Book · 2025 · Business & Economics
Devil Take the Hindmost
A History of Financial Speculation
Why people recommend it
Devil Take the Hindmost is a comprehensive historical study of financial speculation and market manias through the centuries, written by Edward Chancellor. On an episode of Modern Wisdom titled The Best Way To Build Your Personal Wealth, released on April 18, 2022, guest Nick Maggiulli referenced the book during a discussion about financial markets and investor behavior. Maggiulli brought up the title while talking about the unpredictable nature of financial markets and the inevitable consequences that arise when people chase speculative bubbles. Rather than attempting to control every possible market outcome, Maggiulli suggested that investors ultimately have to accept the risks associated with their choices, using the thematic essence of Chancellor's work to frame the conversation around personal financial responsibility. The mention served as a reminder that market manias are recurrent historical phenomena driven by human psychology rather than mere mathematical anomalies. By nodding to the book, Maggiulli reinforced the idea that individuals must make their own informed financial choices and ultimately live with the risk and reward outcomes that follow.
Who recommended it
- Nick Maggiulli Recommended
Nick Maggiulli — 1 mention
“there's a great book devil take the hindmost you know just let it let chips fall or they may you know we can we can try so much but at some point you have to be like hey like you made the choice”