Edward Chancellor

John "Edward" Horner Chancellor (born December 1962), is an English financial historian, finance journalist, and former hedge fund investment strategist and investment banker. In 2016, the Financial Analysts Journal called him "one of the great financial writers of our era", and in 2022 Fortune magazine called him "one of the greatest financial historians alive". Chancellor is noted for his prescient warnings of the last three major economic bubbles in his published works: Devil Take the Hindmost: A History of Financial Speculation (1999, the dot-com bubble), Crunch-Time for Credit? (2005, the credit bubble and Great Recession), and The Price of Time: The Real Story of Interest (2022, the everything bubble). Quotes Investors who accept this analysis will probably conclude that risk and reward are currently out of whack. They will position their portfolios defensively, keeping cash on hand to spend when the rewards for taking risk appear more compelling. "Ponzi Nation", 7 February 2007, Institutional Investor The Price of Time (2022) In the beginning was the loan and the loan carried interest. Well, this may have been the case. We don't know for sure, but it's now widely believed that the earliest transactions were for credit rather than barter. We do know that the Mesopotamians charges interest on loans before they discovered how to put wheels on carts. Interest is much older than coined money, which only originated in the eighth century BC... There is no evidence for this barter-to-money myth. On the contrary, it seems likely that credit antedated money and that the earliest forms of credit bore interest. Usury is defined as the charging of excessive interest. But no word exists to describe too little interest. Chapter 14 See also Hyman Minsky External links Category:1962 births Category:Living people