Book Library

Confusions de Confusiones

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Author: Don Joseph de la Vega

Publisher: Maxtor

Year Printed: 2009

Edition: Reprint of 1688 Edition

Condition: Good

eBook: Google eBookThe Confusion of Confusions: Between Speculation and Eschatology, Paul Held, Univ. of CA, Santa Cruz.

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Pages: 392

Height: 5.75 inches

Width: 4.25 inches

Notes: Originally published in 1688. Description at QFinance.
  • This is the oldest book ever written about the stock exchange business, and it made de la Vega famous for his insights and stories about speculation in the 17th century.

  • Considered a classic, as the type of trading intricacies and market manipulations of the time are still with us today.

  • Presents four rules of speculation that are still relevant: never advise anyone to buy or sell shares; accept both profits and losses; profits do not last; you need both money and patience.

Quotes:

What really matters is an awareness of how greed and fear can drive rational people to behave in strange ways when they gather in the marketplace.

[At the stock exchange] concealment of facts, quarrels, provocations, mockery, idle talk, violent desires, collusion, artful deceptions, betrayals, cheatings and even the tragic end are to be found.

Some gamble for the fun of it, some for vanity, many are spendthrifts, many find satisfaction in their occupation, and quite a few [just] make a living [at] the stock exchange.

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