00:00Investment bubbles and panics have the power to crater the global economy.
00:05And in recent years, an increasing number of countries have experienced severe financial difficulties.
00:12World Bank economist Gerard Caprio calls this the boom and busts.
00:17Banking crises, currency crises, sovereign debt crises.
00:22A question that comes up after every one is, what will cause the next financial crisis?
00:28Technology, like cryptocurrency, is one possible answer.
00:32A charismatic promoter who appears to be making people wealthy is another.
00:37In this course, I'll share some of the greatest stories of misfortune and malfeasance in history.
00:44The Panic of 1907.
00:46The conmen Charles Ponzi and Ivar Kruger.
00:49Japan's lost decade.
00:51Rogue traders at Sokjen and Barings.
00:54Cryptocurrency and shadow banking in China.
00:57At the height of the roaring 20s, while about one-third of all New York Stock Exchange listings were rising, half were falling.
01:06And still, the crash of 29 took most people by surprise.
01:10If we understand the mistakes made in risk-taking throughout history, I believe we gain better insight into what's happening in the markets today.
01:18My aim is to help you avoid falling victim to the same trap.
01:23Crashes and crises.
01:25Lessons from a history of financial disasters.
01:27More financial disasters.
01:28.
01:37.
01:41.
01:43Tim Department of Development.
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