William Quinn and John D. Turner – Boom and Bust

A Book with Legs

Smead Capital Management

Investing, Business, Management

4.2 • 1.1K Ratings

🗓️ 27 June 2022

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

"Fire can be destructive. It can also be useful. The same, we think, is true with bubbles.” In this episode, Cole is joined by William Quinn and John D. Turner, authors of the book Boom and Bust: A Global History of Financial Bubbles. The trio discuss the history of financial bubbles, how they’re created, why bubbles aren’t always destructive, and how to spot a bubble when you’re in the middle of one.

Transcript

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0:00.0	You're listening to A Book with Legs, a podcast presented by Smead Capital Management.
0:08.0	At Smead Capital Management, we advise investors who fear stock market failure.
0:12.9	You can learn more at Smeadcap.com or by calling your financial advisor.
0:27.2	Welcome to a book with legs podcast. I'm Cole Smead. I'm the president and a portfolio manager here at Smead Capital Management. At our firm, we are readers and book junkies. It can be said
0:32.6	that leaders are readers and we believe books provide us a great source of information for filtering
0:37.2	what is and isn't important for us a great source of information for filtering what is
0:37.9	and isn't important for us as investors. Investing is the last great liberal art and the best way to
0:43.0	spend a lifetime of learning. This podcast is for readers, thinkers, business-minded people, and
0:48.2	investors who want to grow their knowledge from great authors and their writing. Charlie Munger often
0:52.8	talks about using multiple mental
0:54.6	models and analysis. Our aim for this podcast is to help listeners test Munger's theory
0:59.3	in business, markets, and people. I'm glad everyone has joined us for this episode of the podcast.
1:06.3	We are going to look at bubbles through an excellent framework for studying these financial
1:10.0	euphoria. We will also attempt to answer if bubbles are an excellent framework for studying these financial euphoria.
1:16.3	We will also attempt to answer if bubbles are good or not. Joining us today is William Quinn and John Turner to discuss their book, Boom and Bust, A Global History of Financial Bubbles. Before they
1:23.4	joined me here to discuss, just a little background. William is a lecturer in finance at Queens University of Belfast.
1:30.5	His research is focused on historical stock markets, stock market bubbles, as we'll talk
1:34.3	about today, and market corners.
1:36.6	John Turner is a professor of finance and financial history at Queens University of
1:41.0	Belfast.
1:41.8	He is also the author of Banking and Crisis that was published in 2014.
1:46.8	He is currently the editor of the Economic History of You. John was the Hublin Norman Fellow at the Bank of
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