Book Review: The Panic of 1907

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Given the jitters in the market I thought it would be interesting to review prior financial panics and see if there are similarities and opportunities.  I am a firm believer in learning from prior mistakes, and as the saying goes – better to learn from someone else’s mistakes than your own.  So, with that in mind I picked up this book to continue my education on the financial markets and the events that lead up to, contribute, and the aftermath of panics.  I read the book last night – a VERY fast read.  The authors really focus on J. Morgan’s activities during the event and a focus on NYC.  Obviously this limits the breadth of the topic, while still allowing the reader to understand the events as they unfolded.  They discuss seven points of panics that I feel are logical.

Bottom Line:  I did not walk away with a plan for proceeding in the near future, but I do have an awareness of the pressures on the financial markets today.  I would recommend buying the book if you need a cursory understanding of the market, but it is not nearly detailed enough on the financial underpinnings to provide guidance in your own life.

Best,

James DeLuccia

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About pcidss

Proficient in IT Controls, IT Security, and Risk management. My recent interests lie in the credit card security and protecting identities. This blog will reflect the past, current, and future best steps to securing data (specifically in the context of PCI DSS, and DSOP)
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