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Financial History: Sunday Reads

• Electric Vehicles: A 19th Century Innovation

• Tech Revolutions: Bicycle Mania

• Sketchy Startups & The South Sea Bubble

• The Birth of Electric Cars

• The 17th Century Tech Bubble

investoramnesia.com/2020/08/09/spe…
This made my week.

The Reddit post in the second picture is a *perfect* example of the speculative pattern I discuss in today's Sunday Reads...

And as a writer, there is nothing more satisfying than knowing your work resonated with someone.
Some "new" innovations that are actually a century old:

• Electric Taxi Cab Fleets in NYC (1897)

• Electric Trucks (1899)
An EV charging station pictured in 1912
Great table from @wquinn05 's paper on the 1890s Bicycle Boom.

671 Bicycle Corporations established in 2.5 years...

Probably 2x more if there had been SPACs!
A pattern repeated throughout history.

Explosion in new companies following huge returns in an exciting new tech / industry:

1) Bicycle Boom in 1890s

2) South Sea Bubble of 1720

3) London Tech Bubble of 1690s
Others, not so much...
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Jamie Catherwood
@jfc_3_
Financial History: Sunday Reads

• A Short History of Tontines

• The Allure of Public Markets

• SPACs in the South Sea Bubble?

• The Birth of Investment Trusts

• Financial Weapons of Mass Destruction

investoramnesia.com/2020/07/26/fin…
Today's Sunday Reads covers the general history of financial contraptions, but specifically SPACs and Tontines.

I answer questions like why did Bill Ackman name his SPAC after a 17th century financial contraption described as:

"Part annuity, part mortality lottery"
Tontines are crucial to American history.

After signing the Buttonwood Agreement, the brokers needed a place to conduct business, and settled on a coffee shop.

A tontine financed construction of the "The Tontine Coffee House", which later evolved into the NYSE.
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Jamie Catherwood
@jfc_3_
Quick Super Thread on what I've been covering at Investor Amnesia during COVID-19.

To continue receiving these financial history insights each week, subscribe below.

History is a particularly sought after resource these days, so share this thread!

mailchi.mp/investoramnesi…
The first dive into Pandemics and Financial Markets:

investoramnesia.com/2020/03/01/pan…
A look at market crashes and further research on the history of Pandemics:

investoramnesia.com/2020/03/29/pan…
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Jamie Catherwood
@jfc_3_
Wow. This article from 1896 sounds familiar.

A slight raise in rates by the Bank of England spooked investors that had grown accustomed to 'cheap money'.

Make sure to read this thread. Fascinating stuff.
"Such a system works comfortably and profitably enough as long as the 'cheap money,' which is at once its basis and its effect, continues."
Cheap Money (1896)

"Speculators [got] an effective warning that they could not count on the reality of their dream of perpetual cheap money...

And amply proved that the dangers to which a long period of abundant credit had been said to expose... markets simply shriveled up"
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