First published in 1940, Where Are the Customers’ Yachts? or a
Good Hard Look at Wall Street (Schwed 2006) depicts the questionable investment
practices of Wall Street firms toward their clients. In 1949, Graham (2005) published
The Intelligent Investor, which reveals the approach known as value investing (i.e., a
method for evaluating and identifying stocks that an investor considers underpriced
based on different types of accounting or financial information). Today, value investing is one of the most important investing strategies. Published in 1951, Other
People’s Money: A Study in the Social Psychology of Embezzlement (Cressey 1951)
uses psychological theories to explain why individuals commit financial crimes and
violate the trust of the public. Galbraith’s (2009) The Great Crash 1929, published
in 1954, serves as a reminder even today of how financial history repeats itself in
understanding the financial crisis of 2007 and 2008.
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