February 15, 2011
Book on the Futures Markets
I recently read The Futures: The Rise of the Speculator and the Origins of the World’s Biggest Markets, by Emily Lambert (Basic Books 2011). It is a history of the commodity futures exchanges in the United States, with a focus on the Chicago exchanges. I was looking for a good popular history of the futures markets that I could recommend to students, and saw a couple of good reviews of this book.
I was disappointed and really can’t recommend it. Both the writing and the history are choppy. The book is a loosely connected collection of snippy anecdotes and colorful descriptions of some of the market participants. Lambert never really provides an overall picture of the exchanges and their development.
Not bad if all you’re looking for is some colorful anecdotes, but it’s not the full history and explanation of the futures markets that I was hoping for. I'm still looking, so let me know if you're aware of a good popular history/explanation of the futures markets.
February 15, 2011 | Permalink