Rampant speculation. Record trading volumes. Assets bought not because of their value but because the buyer believes he can sell them for more in a day or two, or an hour or two. Welcome to the late 1920s in the US. There are obvious and absolute parallels to the great bull market of the late 1990s, writes Galbraith in a new introduction dated 1997. Of course, Galbraith notes, every financial bubble since 1929 has been compared to the Great Crash, which is why this book has never been out of print since it became a bestseller in 1955.

Galbraith writes with great wit and erudition about the perilous actions of investors and the curious inaction of the government. He notes that the problem wasn't a scarcity of securities to buy and sell: "The ingenuity and zeal with which companies were devised in which securities might be sold was as remarkable as anything." Those words become strikingly relevant in light of revenue-negative start-up companies coming into the market each week in the 1990s, along with fragmented pieces of established companies, like real estate and bottling plants. Of course, the 1920s were different from the 1990s. There was no safety net below citizens, no unemployment insurance or Social Security. And today we don't have the creepy investment trusts--in which shares of companies that held some stocks and bonds were sold for several times the assets' market value. But, boy, are the similarities spooky, particularly the prevailing trend at the time toward corporate mergers and industry consolidations--not to mention all the partially informed people who imagined themselves to be financial geniuses because the shares of stock they bought kept going up. --Lou Schuler, Amazon.com

Essential Reading, 01 Sep 2008
I found this book captivating, in a "gallows humor" sort of way.

Although written many years ago, and recounting events in the distant past, it should be required reading for anyone in the markets today. More specifically, it should have been required reading a year ago (mid 2007) for those invested in finance and property sectors.

Whether the malaise in those sectors (some stocks down 90%) spreads eventually to the general indexes remains to be seen.

Tony Loton, author --
DON'T LOSE MONEY! (in the Stock Markets)
Financial Trading Patterns


An excellent book and highly recommended to anyone with any interest whatsoever in economics or the dark days of 1929. , 04 Jan 2007
One of the most surprising and delightful things that I found about the book, particularly in view of the potentially heavy subject matter, was how wonderfully readable Professor Galbraith is. There are not that many world renowned experts in any field who can write as well as they can understand their subject. It's a bit like finding that a world class footballer can also play first violin. This book reads like the work of a top drawer professional writer who has immersed him/herself in the subject for a period and, with ongoing expert guidance and hands-on editing, has brought the subject home in fine style. It reads to me a bit like Tom Wolfe (of the Right Stuff etc), wonderfully literate, sardonic prose. It really is quite unexpected. Marvellous. You will have more than one chuckle out loud which may raise one of the live-in's eyebrows. Chuckling at economics now? Hmmm.

Anyway, the stock market fell, measured by the Times Industrial Average, from 542 down to 224, from October through Nov 1929, and then more gradually to only 58, basically a tenth of its peak 1929 value, by July 1932. Drastic times indeed. This residual value that the market held, 58, in 1932, was roughly the same amount by which the market fell, in only one day, 28/10/1929, Black Thursday. The Professor's contention seems to be that the Depression and the Crash, while not totally unrelated, were less connected than popular opinion held then, or holds now. The contention is that prior to the crash, that the economy was not fundamentally sound. Although there were no glaring warning signs in the economic indicators reported in the first half of 1929, there were some red lights flickering. The Professor goes on to detail and explain those. Of course I am still no expert on what happened in 1929 and why. But due to this book I have a better idea. And it has encouraged me to read more about it. Which I intend to do shortly. And further works by the extremely readable Professor Galbraith will most certainly be on my list.





What Actually Happened in 1929?, 05 Jul 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

What Actually Happened in 1929?, 10 Apr 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

a must read for any investor, 21 Feb 2001
following the "sudden vanishing" of approximately USD 5 trillion dollars of market capitalization in the NASDAQ since march 2001, this book comes as a somewhat "refreshing" read - especially considering that it was published back in 1954! i have never been one to put too much weight on comments such as "history always repeats itself", but this book was rather scary in that it could have easily been written in 2001. for those of you have been following the "irrationally exhuberant" technology equity markets of the last 3 years, this book shows that the will to participate in "easy money opportunities" lives in all of us.

Essential Reading, 01 Sep 2008
I found this book captivating, in a "gallows humor" sort of way.

Although written many years ago, and recounting events in the distant past, it should be required reading for anyone in the markets today. More specifically, it should have been required reading a year ago (mid 2007) for those invested in finance and property sectors.

Whether the malaise in those sectors (some stocks down 90%) spreads eventually to the general indexes remains to be seen.

Tony Loton, author --
DON'T LOSE MONEY! (in the Stock Markets)
Financial Trading Patterns


An excellent book and highly recommended to anyone with any interest whatsoever in economics or the dark days of 1929. , 04 Jan 2007
One of the most surprising and delightful things that I found about the book, particularly in view of the potentially heavy subject matter, was how wonderfully readable Professor Galbraith is. There are not that many world renowned experts in any field who can write as well as they can understand their subject. It's a bit like finding that a world class footballer can also play first violin. This book reads like the work of a top drawer professional writer who has immersed him/herself in the subject for a period and, with ongoing expert guidance and hands-on editing, has brought the subject home in fine style. It reads to me a bit like Tom Wolfe (of the Right Stuff etc), wonderfully literate, sardonic prose. It really is quite unexpected. Marvellous. You will have more than one chuckle out loud which may raise one of the live-in's eyebrows. Chuckling at economics now? Hmmm.

Anyway, the stock market fell, measured by the Times Industrial Average, from 542 down to 224, from October through Nov 1929, and then more gradually to only 58, basically a tenth of its peak 1929 value, by July 1932. Drastic times indeed. This residual value that the market held, 58, in 1932, was roughly the same amount by which the market fell, in only one day, 28/10/1929, Black Thursday. The Professor's contention seems to be that the Depression and the Crash, while not totally unrelated, were less connected than popular opinion held then, or holds now. The contention is that prior to the crash, that the economy was not fundamentally sound. Although there were no glaring warning signs in the economic indicators reported in the first half of 1929, there were some red lights flickering. The Professor goes on to detail and explain those. Of course I am still no expert on what happened in 1929 and why. But due to this book I have a better idea. And it has encouraged me to read more about it. Which I intend to do shortly. And further works by the extremely readable Professor Galbraith will most certainly be on my list.





What Actually Happened in 1929?, 05 Jul 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

What Actually Happened in 1929?, 10 Apr 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

a must read for any investor, 21 Feb 2001
following the "sudden vanishing" of approximately USD 5 trillion dollars of market capitalization in the NASDAQ since march 2001, this book comes as a somewhat "refreshing" read - especially considering that it was published back in 1954! i have never been one to put too much weight on comments such as "history always repeats itself", but this book was rather scary in that it could have easily been written in 2001. for those of you have been following the "irrationally exhuberant" technology equity markets of the last 3 years, this book shows that the will to participate in "easy money opportunities" lives in all of us.

what a disappointment, 13 Oct 2008
I was so looking forward to a good historical novel but what a let down. It was more like text book. Dreadfully hard going - I didn't finish it.

Very readable and loved it!, 09 Oct 2008
I was very pleased that I was able to get into this book and I remember it as if it was a story! It is so well done and gave me the information I would want from any historical biography without the boredom! The film is good but isn't the tiniest patch on the book!

Loved it, 08 Oct 2008
When I picked the book up I wasn't really sure what to make of it. But the more I read the more I came to admire this women. She was so foolish and at times downright dangerous but she has such a down to earth quality about her I couldn't help but read on.
A truly remarkable women. A book not to be missed!

A good biography, 21 Sep 2008
I picked up the book as I wanted to watch the film. I always feel it is better to read a book then watch the movie to compare.

From the start I was drawn into the book. It is very easy to read and the details are just perfect. There are references to politics but thats a good break. Any intellect should be able to comprehend what is being described. The duchess valued politics so naturally the book should make references to it. There are references to political figures but they are refered to through out the book and you feel like you know them as well as the duchess and her family.

At times, I felt real sad for the duchess but at times I felt rather cross with her and her naivety; her gambling ways and her willingness to live with her husband's mistress. Even that in a way is very sad. She had to put up with it or she would have been forced to separate from her husband. In those days, the children remained with the father and his family if a couple separated or divorced. This meant, if Georgiana had separated from the duke, she would have been separated from the children too.

I could not put the book down once I had started. It was very good. I even thought about calling in sick at work to finish the book. I love my work so for a book to keep me away from my work says a lot about the book itself.

I would highly recommend it to anyone. A perfect biography.

Dissapointing, 20 Sep 2008
I was ready to have a great read about the rich and obviously interesting life of the duchess as they had just bought the movie out. I was dissapointed as the story was bogged down by long drawn out intervals of politics which was extreamly difficult to read and follow. There are many chararcters but they were never built up just breezed accross. Between these intervals you do get a sense of how and why she was so looked up to although to me it felt like something I was going to be tested on later not to be enjoyed. It could have been told much better in a more coherant manner and I was never drawn in or had much compassion for any of the characters I just didn't feel they had been introduced. I was a spectator and I love to be drawn in to the action.

Essential Reading, 01 Sep 2008
I found this book captivating, in a "gallows humor" sort of way.

Although written many years ago, and recounting events in the distant past, it should be required reading for anyone in the markets today. More specifically, it should have been required reading a year ago (mid 2007) for those invested in finance and property sectors.

Whether the malaise in those sectors (some stocks down 90%) spreads eventually to the general indexes remains to be seen.

Tony Loton, author --
DON'T LOSE MONEY! (in the Stock Markets)
Financial Trading Patterns


An excellent book and highly recommended to anyone with any interest whatsoever in economics or the dark days of 1929. , 04 Jan 2007
One of the most surprising and delightful things that I found about the book, particularly in view of the potentially heavy subject matter, was how wonderfully readable Professor Galbraith is. There are not that many world renowned experts in any field who can write as well as they can understand their subject. It's a bit like finding that a world class footballer can also play first violin. This book reads like the work of a top drawer professional writer who has immersed him/herself in the subject for a period and, with ongoing expert guidance and hands-on editing, has brought the subject home in fine style. It reads to me a bit like Tom Wolfe (of the Right Stuff etc), wonderfully literate, sardonic prose. It really is quite unexpected. Marvellous. You will have more than one chuckle out loud which may raise one of the live-in's eyebrows. Chuckling at economics now? Hmmm.

Anyway, the stock market fell, measured by the Times Industrial Average, from 542 down to 224, from October through Nov 1929, and then more gradually to only 58, basically a tenth of its peak 1929 value, by July 1932. Drastic times indeed. This residual value that the market held, 58, in 1932, was roughly the same amount by which the market fell, in only one day, 28/10/1929, Black Thursday. The Professor's contention seems to be that the Depression and the Crash, while not totally unrelated, were less connected than popular opinion held then, or holds now. The contention is that prior to the crash, that the economy was not fundamentally sound. Although there were no glaring warning signs in the economic indicators reported in the first half of 1929, there were some red lights flickering. The Professor goes on to detail and explain those. Of course I am still no expert on what happened in 1929 and why. But due to this book I have a better idea. And it has encouraged me to read more about it. Which I intend to do shortly. And further works by the extremely readable Professor Galbraith will most certainly be on my list.





What Actually Happened in 1929?, 05 Jul 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

What Actually Happened in 1929?, 10 Apr 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

a must read for any investor, 21 Feb 2001
following the "sudden vanishing" of approximately USD 5 trillion dollars of market capitalization in the NASDAQ since march 2001, this book comes as a somewhat "refreshing" read - especially considering that it was published back in 1954! i have never been one to put too much weight on comments such as "history always repeats itself", but this book was rather scary in that it could have easily been written in 2001. for those of you have been following the "irrationally exhuberant" technology equity markets of the last 3 years, this book shows that the will to participate in "easy money opportunities" lives in all of us.

what a disappointment, 13 Oct 2008
I was so looking forward to a good historical novel but what a let down. It was more like text book. Dreadfully hard going - I didn't finish it.

Very readable and loved it!, 09 Oct 2008
I was very pleased that I was able to get into this book and I remember it as if it was a story! It is so well done and gave me the information I would want from any historical biography without the boredom! The film is good but isn't the tiniest patch on the book!

Loved it, 08 Oct 2008
When I picked the book up I wasn't really sure what to make of it. But the more I read the more I came to admire this women. She was so foolish and at times downright dangerous but she has such a down to earth quality about her I couldn't help but read on.
A truly remarkable women. A book not to be missed!

A good biography, 21 Sep 2008
I picked up the book as I wanted to watch the film. I always feel it is better to read a book then watch the movie to compare.

From the start I was drawn into the book. It is very easy to read and the details are just perfect. There are references to politics but thats a good break. Any intellect should be able to comprehend what is being described. The duchess valued politics so naturally the book should make references to it. There are references to political figures but they are refered to through out the book and you feel like you know them as well as the duchess and her family.

At times, I felt real sad for the duchess but at times I felt rather cross with her and her naivety; her gambling ways and her willingness to live with her husband's mistress. Even that in a way is very sad. She had to put up with it or she would have been forced to separate from her husband. In those days, the children remained with the father and his family if a couple separated or divorced. This meant, if Georgiana had separated from the duke, she would have been separated from the children too.

I could not put the book down once I had started. It was very good. I even thought about calling in sick at work to finish the book. I love my work so for a book to keep me away from my work says a lot about the book itself.

I would highly recommend it to anyone. A perfect biography.

Dissapointing, 20 Sep 2008
I was ready to have a great read about the rich and obviously interesting life of the duchess as they had just bought the movie out. I was dissapointed as the story was bogged down by long drawn out intervals of politics which was extreamly difficult to read and follow. There are many chararcters but they were never built up just breezed accross. Between these intervals you do get a sense of how and why she was so looked up to although to me it felt like something I was going to be tested on later not to be enjoyed. It could have been told much better in a more coherant manner and I was never drawn in or had much compassion for any of the characters I just didn't feel they had been introduced. I was a spectator and I love to be drawn in to the action.

INCREDIBLE TRUE STORY OF WAR IN AFGANISTAN!, 09 Oct 2008
What an incredible true story Ed Macy delivers in "Apache".Detailing the the harsh brutal realities of war in Afganistan and the incredible devotion and bravery our troops display daily.This book is a great read for those not interested in military matters as much as for those that are.Utterly compelling and the "Jugroom Fort" chapters are so engaging you'll not want to put the book down before you finish them.

Absolutely recommended.

AN ABSOLUTE STONKING SUPERB READ !!!, 09 Oct 2008
THIS HAS GOT TO BE ONE OF THE BEST BOOKS IVE READ , IT TOTALY PUTS YOU IN THE COCKPIT WITH ED , FANTASTIC , AMAZING ACCOUNT OF THE BATTLE THAT THE AIR CORP DOES ON A DAILY BASIS ,THE APACHE IS ONE MEAN BABY ! WOW !!!!!!

A Brilliant Debut!!, 28 Sep 2008
It's hard to comprehend, on reading Apache, that this is a debut book. Ed Macy writes with such confidence and skill it really brings home exactly what our troops are facing every day. Rarely does a book hold my attention from the first page to the last, but there's something about this book that makes you want to continue right to the end. This book has everything Hollywood blockbusters can only dream about. Romance, action, cheers and tears, I went through the whole range of emotions. This book is definately worth reading, at least twice!!

The standard all air warfare books should be set by., 27 Sep 2008
Having worked in the AH community since the Apache's inception into the British Armed forces this book has been a long time coming but it was certainly well worth the wait.Written with compassion and humour by an obviously very intelligent chap it took me back to my time in Helmland like a slap in the face and at times i had to put the book down to wipe away a tear and take in what i had just read.The descriptions of the aircraft strike the balance perfectly between technical awareness and laymans speak so even a non aviation type can read the book and come away with a good grasp of the aircraft and its systems.The greatest tribute i can give is that it has given great justice to the memory of mathew ford.I thank you ED for a Wizard read.

Astonishing, 21 Sep 2008
Having bought this book a week ago, and finishing it in less than a day, I suddenly realized I should write a few words about it. This book is absolutely fantastic, and provides you with all the information, and graphic descriptions you could ever want. The tales of courage are just outstanding and after reading this, I have decided that I am going to try out for AAC selection.
I highly recommend this book to all

Essential Reading, 01 Sep 2008
I found this book captivating, in a "gallows humor" sort of way.

Although written many years ago, and recounting events in the distant past, it should be required reading for anyone in the markets today. More specifically, it should have been required reading a year ago (mid 2007) for those invested in finance and property sectors.

Whether the malaise in those sectors (some stocks down 90%) spreads eventually to the general indexes remains to be seen.

Tony Loton, author --
DON'T LOSE MONEY! (in the Stock Markets)
Financial Trading Patterns


An excellent book and highly recommended to anyone with any interest whatsoever in economics or the dark days of 1929. , 04 Jan 2007
One of the most surprising and delightful things that I found about the book, particularly in view of the potentially heavy subject matter, was how wonderfully readable Professor Galbraith is. There are not that many world renowned experts in any field who can write as well as they can understand their subject. It's a bit like finding that a world class footballer can also play first violin. This book reads like the work of a top drawer professional writer who has immersed him/herself in the subject for a period and, with ongoing expert guidance and hands-on editing, has brought the subject home in fine style. It reads to me a bit like Tom Wolfe (of the Right Stuff etc), wonderfully literate, sardonic prose. It really is quite unexpected. Marvellous. You will have more than one chuckle out loud which may raise one of the live-in's eyebrows. Chuckling at economics now? Hmmm.

Anyway, the stock market fell, measured by the Times Industrial Average, from 542 down to 224, from October through Nov 1929, and then more gradually to only 58, basically a tenth of its peak 1929 value, by July 1932. Drastic times indeed. This residual value that the market held, 58, in 1932, was roughly the same amount by which the market fell, in only one day, 28/10/1929, Black Thursday. The Professor's contention seems to be that the Depression and the Crash, while not totally unrelated, were less connected than popular opinion held then, or holds now. The contention is that prior to the crash, that the economy was not fundamentally sound. Although there were no glaring warning signs in the economic indicators reported in the first half of 1929, there were some red lights flickering. The Professor goes on to detail and explain those. Of course I am still no expert on what happened in 1929 and why. But due to this book I have a better idea. And it has encouraged me to read more about it. Which I intend to do shortly. And further works by the extremely readable Professor Galbraith will most certainly be on my list.





What Actually Happened in 1929?, 05 Jul 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

What Actually Happened in 1929?, 10 Apr 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

a must read for any investor, 21 Feb 2001
following the "sudden vanishing" of approximately USD 5 trillion dollars of market capitalization in the NASDAQ since march 2001, this book comes as a somewhat "refreshing" read - especially considering that it was published back in 1954! i have never been one to put too much weight on comments such as "history always repeats itself", but this book was rather scary in that it could have easily been written in 2001. for those of you have been following the "irrationally exhuberant" technology equity markets of the last 3 years, this book shows that the will to participate in "easy money opportunities" lives in all of us.

what a disappointment, 13 Oct 2008
I was so looking forward to a good historical novel but what a let down. It was more like text book. Dreadfully hard going - I didn't finish it.

Very readable and loved it!, 09 Oct 2008
I was very pleased that I was able to get into this book and I remember it as if it was a story! It is so well done and gave me the information I would want from any historical biography without the boredom! The film is good but isn't the tiniest patch on the book!

Loved it, 08 Oct 2008
When I picked the book up I wasn't really sure what to make of it. But the more I read the more I came to admire this women. She was so foolish and at times downright dangerous but she has such a down to earth quality about her I couldn't help but read on.
A truly remarkable women. A book not to be missed!

A good biography, 21 Sep 2008
I picked up the book as I wanted to watch the film. I always feel it is better to read a book then watch the movie to compare.

From the start I was drawn into the book. It is very easy to read and the details are just perfect. There are references to politics but thats a good break. Any intellect should be able to comprehend what is being described. The duchess valued politics so naturally the book should make references to it. There are references to political figures but they are refered to through out the book and you feel like you know them as well as the duchess and her family.

At times, I felt real sad for the duchess but at times I felt rather cross with her and her naivety; her gambling ways and her willingness to live with her husband's mistress. Even that in a way is very sad. She had to put up with it or she would have been forced to separate from her husband. In those days, the children remained with the father and his family if a couple separated or divorced. This meant, if Georgiana had separated from the duke, she would have been separated from the children too.

I could not put the book down once I had started. It was very good. I even thought about calling in sick at work to finish the book. I love my work so for a book to keep me away from my work says a lot about the book itself.

I would highly recommend it to anyone. A perfect biography.

Dissapointing, 20 Sep 2008
I was ready to have a great read about the rich and obviously interesting life of the duchess as they had just bought the movie out. I was dissapointed as the story was bogged down by long drawn out intervals of politics which was extreamly difficult to read and follow. There are many chararcters but they were never built up just breezed accross. Between these intervals you do get a sense of how and why she was so looked up to although to me it felt like something I was going to be tested on later not to be enjoyed. It could have been told much better in a more coherant manner and I was never drawn in or had much compassion for any of the characters I just didn't feel they had been introduced. I was a spectator and I love to be drawn in to the action.

INCREDIBLE TRUE STORY OF WAR IN AFGANISTAN!, 09 Oct 2008
What an incredible true story Ed Macy delivers in "Apache".Detailing the the harsh brutal realities of war in Afganistan and the incredible devotion and bravery our troops display daily.This book is a great read for those not interested in military matters as much as for those that are.Utterly compelling and the "Jugroom Fort" chapters are so engaging you'll not want to put the book down before you finish them.

Absolutely recommended.

AN ABSOLUTE STONKING SUPERB READ !!!, 09 Oct 2008
THIS HAS GOT TO BE ONE OF THE BEST BOOKS IVE READ , IT TOTALY PUTS YOU IN THE COCKPIT WITH ED , FANTASTIC , AMAZING ACCOUNT OF THE BATTLE THAT THE AIR CORP DOES ON A DAILY BASIS ,THE APACHE IS ONE MEAN BABY ! WOW !!!!!!

A Brilliant Debut!!, 28 Sep 2008
It's hard to comprehend, on reading Apache, that this is a debut book. Ed Macy writes with such confidence and skill it really brings home exactly what our troops are facing every day. Rarely does a book hold my attention from the first page to the last, but there's something about this book that makes you want to continue right to the end. This book has everything Hollywood blockbusters can only dream about. Romance, action, cheers and tears, I went through the whole range of emotions. This book is definately worth reading, at least twice!!

The standard all air warfare books should be set by., 27 Sep 2008
Having worked in the AH community since the Apache's inception into the British Armed forces this book has been a long time coming but it was certainly well worth the wait.Written with compassion and humour by an obviously very intelligent chap it took me back to my time in Helmland like a slap in the face and at times i had to put the book down to wipe away a tear and take in what i had just read.The descriptions of the aircraft strike the balance perfectly between technical awareness and laymans speak so even a non aviation type can read the book and come away with a good grasp of the aircraft and its systems.The greatest tribute i can give is that it has given great justice to the memory of mathew ford.I thank you ED for a Wizard read.

Astonishing, 21 Sep 2008
Having bought this book a week ago, and finishing it in less than a day, I suddenly realized I should write a few words about it. This book is absolutely fantastic, and provides you with all the information, and graphic descriptions you could ever want. The tales of courage are just outstanding and after reading this, I have decided that I am going to try out for AAC selection.
I highly recommend this book to all

Excellent book, 27 Sep 2008
I took this book on holiday with me and I feel a week by the pool is a perfect way to enjoy this book.

I really enjoyed the pace of this work. I felt it gave just the right amount of detail without dwelling on unimportant facts.

For me it was constantly enthralling. As a 23 year-old I certainly learnt a great deal. The detail is far greater than the BBC series that accompanied the book. My only doubt is whether had I lived through the times discussed I would have found it a little lightweight.

History at its best, 26 Sep 2008
I found this book a real pleasure to read. It is a penetrating and scholarly account of Britain's post-war history. It is brilliantly researched and beautifully written - the author has a good eye for the amusing bon mot - yet it deals in a balanced and sensible way with the key developments and personalities of the post-war era. If a better book has been published in the past year, then I have not come across it.

A future school textbook - and useful now., 29 Aug 2008
This book was updated for its paperback release and having read it carefully I suspect that many of the errors referred to by other reviewers were removed at that point. Having lived out of Britain for a sizeable chunk of my adult life, I found that I had much to learn from the pages - several large gaps in my knowledge were filled in.

I found it difficult to detect any signs of bias, and Andrew Marr's easy writing style made it a pleasure to read. This is almost as far removed from the dry history textbook that I wrestled with as a young student as it is possible to be. For anyone wanting a crash course on British modern history, this could not be bettered. Well researched and referenced, this deserves to become a standard.

I learnt all I should have at school, 26 Aug 2008
If I hadn't been taught some trendy (in the 1970's) History O Level course I may have learned some modern history and have subsequently been on catch up since!

This is the most readable book I have read covering the post war period and having seen the TV programme the writers voice is audible. It's a must read for a holiday (preferably with understanding people who don't want to talk very much as being interrupted reading won't go down too well)

A Superficial History of Modern Britain. , 12 Aug 2008
Andrew Marr's book is, if not a totally one-way glass facade, then certainly a pretty smeared window upon society that is clearly influenced by the naive, PC stupidity of those many refer to as the 'chattering classes'. Shallow and childlike. The professional intelligentsia, and their private armchair and public media imitators, will surely love it.

Essential Reading, 01 Sep 2008
I found this book captivating, in a "gallows humor" sort of way.

Although written many years ago, and recounting events in the distant past, it should be required reading for anyone in the markets today. More specifically, it should have been required reading a year ago (mid 2007) for those invested in finance and property sectors.

Whether the malaise in those sectors (some stocks down 90%) spreads eventually to the general indexes remains to be seen.

Tony Loton, author --
DON'T LOSE MONEY! (in the Stock Markets)
Financial Trading Patterns


An excellent book and highly recommended to anyone with any interest whatsoever in economics or the dark days of 1929. , 04 Jan 2007
One of the most surprising and delightful things that I found about the book, particularly in view of the potentially heavy subject matter, was how wonderfully readable Professor Galbraith is. There are not that many world renowned experts in any field who can write as well as they can understand their subject. It's a bit like finding that a world class footballer can also play first violin. This book reads like the work of a top drawer professional writer who has immersed him/herself in the subject for a period and, with ongoing expert guidance and hands-on editing, has brought the subject home in fine style. It reads to me a bit like Tom Wolfe (of the Right Stuff etc), wonderfully literate, sardonic prose. It really is quite unexpected. Marvellous. You will have more than one chuckle out loud which may raise one of the live-in's eyebrows. Chuckling at economics now? Hmmm.

Anyway, the stock market fell, measured by the Times Industrial Average, from 542 down to 224, from October through Nov 1929, and then more gradually to only 58, basically a tenth of its peak 1929 value, by July 1932. Drastic times indeed. This residual value that the market held, 58, in 1932, was roughly the same amount by which the market fell, in only one day, 28/10/1929, Black Thursday. The Professor's contention seems to be that the Depression and the Crash, while not totally unrelated, were less connected than popular opinion held then, or holds now. The contention is that prior to the crash, that the economy was not fundamentally sound. Although there were no glaring warning signs in the economic indicators reported in the first half of 1929, there were some red lights flickering. The Professor goes on to detail and explain those. Of course I am still no expert on what happened in 1929 and why. But due to this book I have a better idea. And it has encouraged me to read more about it. Which I intend to do shortly. And further works by the extremely readable Professor Galbraith will most certainly be on my list.





What Actually Happened in 1929?, 05 Jul 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

What Actually Happened in 1929?, 10 Apr 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

a must read for any investor, 21 Feb 2001
following the "sudden vanishing" of approximately USD 5 trillion dollars of market capitalization in the NASDAQ since march 2001, this book comes as a somewhat "refreshing" read - especially considering that it was published back in 1954! i have never been one to put too much weight on comments such as "history always repeats itself", but this book was rather scary in that it could have easily been written in 2001. for those of you have been following the "irrationally exhuberant" technology equity markets of the last 3 years, this book shows that the will to participate in "easy money opportunities" lives in all of us.

what a disappointment, 13 Oct 2008
I was so looking forward to a good historical novel but what a let down. It was more like text book. Dreadfully hard going - I didn't finish it.

Very readable and loved it!, 09 Oct 2008
I was very pleased that I was able to get into this book and I remember it as if it was a story! It is so well done and gave me the information I would want from any historical biography without the boredom! The film is good but isn't the tiniest patch on the book!

Loved it, 08 Oct 2008
When I picked the book up I wasn't really sure what to make of it. But the more I read the more I came to admire this women. She was so foolish and at times downright dangerous but she has such a down to earth quality about her I couldn't help but read on.
A truly remarkable women. A book not to be missed!

A good biography, 21 Sep 2008
I picked up the book as I wanted to watch the film. I always feel it is better to read a book then watch the movie to compare.

From the start I was drawn into the book. It is very easy to read and the details are just perfect. There are references to politics but thats a good break. Any intellect should be able to comprehend what is being described. The duchess valued politics so naturally the book should make references to it. There are references to political figures but they are refered to through out the book and you feel like you know them as well as the duchess and her family.

At times, I felt real sad for the duchess but at times I felt rather cross with her and her naivety; her gambling ways and her willingness to live with her husband's mistress. Even that in a way is very sad. She had to put up with it or she would have been forced to separate from her husband. In those days, the children remained with the father and his family if a couple separated or divorced. This meant, if Georgiana had separated from the duke, she would have been separated from the children too.

I could not put the book down once I had started. It was very good. I even thought about calling in sick at work to finish the book. I love my work so for a book to keep me away from my work says a lot about the book itself.

I would highly recommend it to anyone. A perfect biography.

Dissapointing, 20 Sep 2008
I was ready to have a great read about the rich and obviously interesting life of the duchess as they had just bought the movie out. I was dissapointed as the story was bogged down by long drawn out intervals of politics which was extreamly difficult to read and follow. There are many chararcters but they were never built up just breezed accross. Between these intervals you do get a sense of how and why she was so looked up to although to me it felt like something I was going to be tested on later not to be enjoyed. It could have been told much better in a more coherant manner and I was never drawn in or had much compassion for any of the characters I just didn't feel they had been introduced. I was a spectator and I love to be drawn in to the action.

INCREDIBLE TRUE STORY OF WAR IN AFGANISTAN!, 09 Oct 2008
What an incredible true story Ed Macy delivers in "Apache".Detailing the the harsh brutal realities of war in Afganistan and the incredible devotion and bravery our troops display daily.This book is a great read for those not interested in military matters as much as for those that are.Utterly compelling and the "Jugroom Fort" chapters are so engaging you'll not want to put the book down before you finish them.

Absolutely recommended.

AN ABSOLUTE STONKING SUPERB READ !!!, 09 Oct 2008
THIS HAS GOT TO BE ONE OF THE BEST BOOKS IVE READ , IT TOTALY PUTS YOU IN THE COCKPIT WITH ED , FANTASTIC , AMAZING ACCOUNT OF THE BATTLE THAT THE AIR CORP DOES ON A DAILY BASIS ,THE APACHE IS ONE MEAN BABY ! WOW !!!!!!

A Brilliant Debut!!, 28 Sep 2008
It's hard to comprehend, on reading Apache, that this is a debut book. Ed Macy writes with such confidence and skill it really brings home exactly what our troops are facing every day. Rarely does a book hold my attention from the first page to the last, but there's something about this book that makes you want to continue right to the end. This book has everything Hollywood blockbusters can only dream about. Romance, action, cheers and tears, I went through the whole range of emotions. This book is definately worth reading, at least twice!!

The standard all air warfare books should be set by., 27 Sep 2008
Having worked in the AH community since the Apache's inception into the British Armed forces this book has been a long time coming but it was certainly well worth the wait.Written with compassion and humour by an obviously very intelligent chap it took me back to my time in Helmland like a slap in the face and at times i had to put the book down to wipe away a tear and take in what i had just read.The descriptions of the aircraft strike the balance perfectly between technical awareness and laymans speak so even a non aviation type can read the book and come away with a good grasp of the aircraft and its systems.The greatest tribute i can give is that it has given great justice to the memory of mathew ford.I thank you ED for a Wizard read.

Astonishing, 21 Sep 2008
Having bought this book a week ago, and finishing it in less than a day, I suddenly realized I should write a few words about it. This book is absolutely fantastic, and provides you with all the information, and graphic descriptions you could ever want. The tales of courage are just outstanding and after reading this, I have decided that I am going to try out for AAC selection.
I highly recommend this book to all

Excellent book, 27 Sep 2008
I took this book on holiday with me and I feel a week by the pool is a perfect way to enjoy this book.

I really enjoyed the pace of this work. I felt it gave just the right amount of detail without dwelling on unimportant facts.

For me it was constantly enthralling. As a 23 year-old I certainly learnt a great deal. The detail is far greater than the BBC series that accompanied the book. My only doubt is whether had I lived through the times discussed I would have found it a little lightweight.

History at its best, 26 Sep 2008
I found this book a real pleasure to read. It is a penetrating and scholarly account of Britain's post-war history. It is brilliantly researched and beautifully written - the author has a good eye for the amusing bon mot - yet it deals in a balanced and sensible way with the key developments and personalities of the post-war era. If a better book has been published in the past year, then I have not come across it.

A future school textbook - and useful now., 29 Aug 2008
This book was updated for its paperback release and having read it carefully I suspect that many of the errors referred to by other reviewers were removed at that point. Having lived out of Britain for a sizeable chunk of my adult life, I found that I had much to learn from the pages - several large gaps in my knowledge were filled in.

I found it difficult to detect any signs of bias, and Andrew Marr's easy writing style made it a pleasure to read. This is almost as far removed from the dry history textbook that I wrestled with as a young student as it is possible to be. For anyone wanting a crash course on British modern history, this could not be bettered. Well researched and referenced, this deserves to become a standard.

I learnt all I should have at school, 26 Aug 2008
If I hadn't been taught some trendy (in the 1970's) History O Level course I may have learned some modern history and have subsequently been on catch up since!

This is the most readable book I have read covering the post war period and having seen the TV programme the writers voice is audible. It's a must read for a holiday (preferably with understanding people who don't want to talk very much as being interrupted reading won't go down too well)

A Superficial History of Modern Britain. , 12 Aug 2008
Andrew Marr's book is, if not a totally one-way glass facade, then certainly a pretty smeared window upon society that is clearly influenced by the naive, PC stupidity of those many refer to as the 'chattering classes'. Shallow and childlike. The professional intelligentsia, and their private armchair and public media imitators, will surely love it.

highly informative and a super read., 03 Oct 2008
After reading Robert Harris's novel Pompeii I was keen on gaining more knowledge about both the people and the town that was overcome by the eruption of Vesuvius , so this books publication allowed me that opportunity.

The amount of information conveyed is awesome and the life of the various citizen's of Pompeii is truly bought to life , the book is written in a scholarly way as befits a Cambridge Don but in no way does this get in the way , she paint's a fantastic picture of the place and it's culture , organisation and politics as well as spicing thing's up by many reference's to the sexual liberation of the era.

A very well written book and did everything I asked of it.

Changing views of Pompeii, 22 Sep 2008
There has always been, since the first discovery, conflict over the meaning of the archeological findings. Some texts are more rigid than others, for example the splendidly illustrated 'Complete Pompeii' by Berry. This new volume has a more laid back approach and all, or at least most, of ones long set assumptions are questioned. So, this is not a guide to carry round the site but a superb contemplation of how life in the town might have been, Like the "Triumph', Prof. Beard shakes the established ideas and stimulates. I found it hard to put down.

Time Travel back to 79AD, 22 Sep 2008
Professor Beard tells the tale of ancient Pompeii in a highly readable and authoritative way. Drawing from the work of historians and archaeologists present and past she transports the reader back to Pompeii's last days. Along the way assumptions are challenged about the number of brothels, or the date of the volcanic explosion which condemned the town into a memory. Wheel ruts and the rules of the road come alive. I suspect that a visit to Pompeii will never be the same again.

Essential Reading, 01 Sep 2008
I found this book captivating, in a "gallows humor" sort of way.

Although written many years ago, and recounting events in the distant past, it should be required reading for anyone in the markets today. More specifically, it should have been required reading a year ago (mid 2007) for those invested in finance and property sectors.

Whether the malaise in those sectors (some stocks down 90%) spreads eventually to the general indexes remains to be seen.

Tony Loton, author --
DON'T LOSE MONEY! (in the Stock Markets)
Financial Trading Patterns


An excellent book and highly recommended to anyone with any interest whatsoever in economics or the dark days of 1929. , 04 Jan 2007
One of the most surprising and delightful things that I found about the book, particularly in view of the potentially heavy subject matter, was how wonderfully readable Professor Galbraith is. There are not that many world renowned experts in any field who can write as well as they can understand their subject. It's a bit like finding that a world class footballer can also play first violin. This book reads like the work of a top drawer professional writer who has immersed him/herself in the subject for a period and, with ongoing expert guidance and hands-on editing, has brought the subject home in fine style. It reads to me a bit like Tom Wolfe (of the Right Stuff etc), wonderfully literate, sardonic prose. It really is quite unexpected. Marvellous. You will have more than one chuckle out loud which may raise one of the live-in's eyebrows. Chuckling at economics now? Hmmm.

Anyway, the stock market fell, measured by the Times Industrial Average, from 542 down to 224, from October through Nov 1929, and then more gradually to only 58, basically a tenth of its peak 1929 value, by July 1932. Drastic times indeed. This residual value that the market held, 58, in 1932, was roughly the same amount by which the market fell, in only one day, 28/10/1929, Black Thursday. The Professor's contention seems to be that the Depression and the Crash, while not totally unrelated, were less connected than popular opinion held then, or holds now. The contention is that prior to the crash, that the economy was not fundamentally sound. Although there were no glaring warning signs in the economic indicators reported in the first half of 1929, there were some red lights flickering. The Professor goes on to detail and explain those. Of course I am still no expert on what happened in 1929 and why. But due to this book I have a better idea. And it has encouraged me to read more about it. Which I intend to do shortly. And further works by the extremely readable Professor Galbraith will most certainly be on my list.





What Actually Happened in 1929?, 05 Jul 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

What Actually Happened in 1929?, 10 Apr 2004
Having recently lived through the crash of the dot-com stocks, I thought it was a particularly appropriate moment to reread John Kenneth Galbraith's famous history of the stock market crash of 1929 in the United States. Professor Galbraith's final words prove to be prophetic as he suggests that as soon as the lessons of 1929 are forgotten, the speculative excesses that led to that debacle will recur. I am sure that when the dot-bomb experience is forgotten, it will be repeated with some new class of speculation in some future generation.

With the recent experience of seeing a market mania, I came away more impressed with this book than before. Professor Galbraith does a fine job of capturing the psychology that builds into and sustains a mania. He also writes like a novelist rather than like an economist. That talent makes the message easy to grasp and appreciate.

I was also impressed by how our popular perceptions of 1929 are so often wrong. For example, most people believe that many "broken" speculators committed suicide. Although some did, there was no significant rise in the suicide rate compared to a general trend in that direction.

Economists often like to fault the Federal Reserve for the crash. That blame seems somewhat misplaced when you learn that there was very little government debt that the Fed could repurchase to create liquidity. Had the Fed acted differently, the crash might have come a little sooner and not been quite so severe . . . but the fundamentals would probably not have changed too much.

Another misperception is that everyone was speculating. By even the most generous measures, the speculators probably never numbered over a million people.

Although this is a history, Professor Galbraith takes on the economic question of how the crash contributed to the Depression. Although we know very little about the economic details of 1929, I was impressed by the point about how much consumer spending was concentrated in the wealthiest people. As they lost vast sums, both spending for consumer goods and savings for capital were decimated. With the broader income distribution of today, such a cataclysm would not be so harmful (as we saw in the aftermath of the dot-com crash).

There is an excellent parallel discussion of the land boom in Florida earlier in the 1920's that is very rewarding. I was intrigued by the ways that ever increasing ways of extending leverage were created so that both bubbles could climb higher. In Florida, people didn't actually buy the land. They bought options to buy the land, and traded those. In the stock market, holding companies sold stock and then floated new holding companies. These were capitalized with common stock, preferred and debt so that all of the appreciation would accrue to the common holders. Naturally, the opposite occurred on the way down. Many stocks fell by over 99 percent, as a result.

Everyone who is tempted to buy any item primarily because it is thought to represent an opportunity for a quick buck should read this book.

Look for true value in all that you do!

a must read for any investor, 21 Feb 2001
following the "sudden vanishing" of approximately USD 5 trillion dollars of market capitalization in the NASDAQ since march 2001, this book comes as a somewhat "refreshing" read - especially considering that it was published back in 1954! i have never been one to put too much weight on comments such as "history always repeats itself", but this book was rather scary in that it could have easily been written in 2001. for those of you have been following the "irrationally exhuberant" technology equity markets of the last 3 years, this book shows that the will to participate in "easy money opportunities" lives in all of us.

what a disappointment, 13 Oct 2008
I was so looking forward to a good historical novel but what a let down. It was more like text book. Dreadfully hard going - I didn't finish it.

Very readable and loved it!, 09 Oct 2008
I was very pleased that I was able to get into this book and I remember it as if it was a story! It is so well done and gave me the information I would want from any historical biography without the boredom! The film is good but isn't the tiniest patch on the book!

Loved it, 08 Oct 2008
When I picked the book up I wasn't really sure what to make of it. But the more I read the more I came to admire this women. She was so foolish and at times downright dangerous but she has such a down to earth quality about her I couldn't help but read on.
A truly remarkable women. A book not to be missed!

A good biography, 21 Sep 2008
I picked up the book as I wanted to watch the film. I always feel it is better to read a book then watch the movie to compare.

From the start I was drawn into the book. It is very easy to read and the details are just perfect. There are references to politics but thats a good break. Any intellect should be able to comprehend what is being described. The duchess valued politics so naturally the book should make references to it. There are references to political figures but they are refered to through out the book and you feel like you know them as well as the duchess and her family.

At times, I felt real sad for the duchess but at times I felt rather cross with her and her naivety; her gambling ways and her willingness to live with her husband's mistress. Even that in a way is very sad. She had to put up with it or she would have been forced to separate from her husband. In those days, the children remained with the father and his family if a couple separated or divorced. This meant, if Georgiana had separated from the duke, she would have been separated from the children too.

I could not put the book down once I had started. It was very good. I even thought about calling in sick at work to finish the book. I love my work so for a book to keep me away from my work says a lot about the book itself.

I would highly recommend it to anyone. A perfect biography.

Dissapointing, 20 Sep 2008
I was ready to have a great read about the rich and obviously interesting life of the duchess as they had just bought the movie out. I was dissapointed as the story was bogged down by long drawn out intervals of politics which was extreamly difficult to read and follow. There are many chararcters but they were never built up just breezed accross. Between these intervals you do get a sense of how and why she was so looked up to although to me it felt like something I was going to be tested on later not to be enjoyed. It could have been told much better in a more coherant manner and I was never drawn in or had much compassion for any of the characters I just didn't feel they had been introduced. I was a spectator and I love to be drawn in to the action.

INCREDIBLE TRUE STORY OF WAR IN AFGANISTAN!, 09 Oct 2008
What an incredible true story Ed Macy delivers in "Apache".Detailing the the harsh brutal realities of war in Afganistan and the incredible devotion and bravery our troops display daily.This book is a great read for those not interested in military matters as much as for those that are.Utterly compelling and the "Jugroom Fort" chapters are so engaging you'll not want to put the book down before you finish them.

Absolutely recommended.

AN ABSOLUTE STONKING SUPERB READ !!!, 09 Oct 2008
THIS HAS GOT TO BE ONE OF THE BEST BOOKS IVE READ , IT TOTALY PUTS YOU IN THE COCKPIT WITH ED , FANTASTIC , AMAZING ACCOUNT OF THE BATTLE THAT THE AIR CORP DOES ON A DAILY BASIS ,THE APACHE IS ONE MEAN BABY ! WOW !!!!!!

A Brilliant Debut!!, 28 Sep 2008
It's hard to comprehend, on reading Apache, that this is a debut book. Ed Macy writes with such confidence and skill it really brings home exactly what our troops are facing every day. Rarely does a book hold my attention from the first page to the last, but there's something about this book that makes you want to continue right to the end. This book has everything Hollywood blockbusters can only dream about. Romance, action, cheers and tears, I went through the whole range of emotions. This book is definately worth reading, at least twice!!

The standard all air warfare books should be set by., 27 Sep 2008
Having worked in the AH community since the Apache's inception into the British Armed forces this book has been a long time coming but it was certainly well worth the wait.Written with compassion and humour by an obviously very intelligent chap it took me back to my time in Helmland like a slap in the face and at times i had to put the book down to wipe away a tear and take in what i had just read.The descriptions of the aircraft strike the balance perfectly between technical awareness and laymans speak so even a non aviation type can read the book and come away with a good grasp of the aircraft and its systems.The greatest tribute i can give is that it has given great justice to the memory of mathew ford.I thank you ED for a Wizard read.

Astonishing, 21 Sep 2008
Having bought this book a week ago, and finishing it in less than a day, I suddenly realized I should write a few words about it. This book is absolutely fantastic, and provides you with all the information, and graphic descriptions you could ever want. The tales of courage are just outstanding and after reading this, I have decided that I am going to try out for AAC selection.
I highly recommend this book to all

Excellent book, 27 Sep 2008
I took this book on holiday with me and I feel a week by the pool is a perfect way to enjoy this book.

I really enjoyed the pace of this work. I felt it gave just the right amount of detail without dwelling on unimportant facts.

For me it was constantly enthralling. As a 23 year-old I certainly learnt a great deal. The detail is far greater than the BBC series that accompanied the book. My only doubt is whether had I lived through the times discussed I would have found it a little lightweight.

History at its best, 26 Sep 2008
I found this book a real pleasure to read. It is a penetrating and scholarly account of Britain's post-war history. It is brilliantly researched and beautifully written - the author has a good eye for the amusing bon mot - yet it deals in a balanced and sensible way with the key developments and personalities of the post-war era. If a better book has been published in the past year, then I have not come across it.

A future school textbook - and useful now., 29 Aug 2008
This book was updated for its paperback release and having read it carefully I suspect that many of the errors referred to by other reviewers were removed at that point. Having lived out of Britain for a sizeable chunk of my adult life, I found that I had much to learn from the pages - several large gaps in my knowledge were filled in.

I found it difficult to detect any signs of bias, and Andrew Marr's easy writing style made it a pleasure to read. This is almost as far removed from the dry history textbook that I wrestled with as a young student as it is possible to be. For anyone wanting a crash course on British modern history, this could not be bettered. Well researched and referenced, this deserves to become a standard.

I learnt all I should have at school, 26 Aug 2008
If I hadn't been taught some trendy (in the 1970's) History O Level course I may have learned some modern history and have subsequently been on ca