Confusion of Confusions [Hardback]by Josseph De la Vega
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Description of Confusion of ConfusionsThe classic masterpiece by Josseph de la Vega finally in a unique English adaptation. This Seventheen century masterpiece is the oldest book ever written on the stock exchange business. Taking the form of a dialogue between a philosopher, a merchant and a shareholder, it describes the workings of the Amsterdam stock exchange, the first stock exchange ever created in the world. Josseph de la Vega was a gifted and prolific writer, a merchant and an intellectual, who maintained a lively correspondence with a number of sovereigns and other pre-eminent contemporaries.
In Confusion of Confusions , the reader is confronted with the many guiles, manners and rules that were represented on the Amsterdam stock exchange. De la Vega's indignation with the excesses he observed around him comes across as surprising, refreshing and even current in these modern times. Confusion of Confusions is also the perfect gift for anyone involved in investment banking.
Press and Industry Reviews"One of the 10 best investment books ever written."
- Richard Lambert, former editor of the Financial Times.
"You will see between its staid lines that, despite what the media says, nothing really important has changed in the financial markets in centuries."
- Forbes Magazine
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About Josseph De la VegaAbout Josseph de la Vega Josseph (Penso) de la Vega was a business man and poet residing in 17th century Amsterdam. He was born around 1650 in Spain into a family of Spanish Jews, which fled the Spanish inquisition when he was still young and settled in Amsterdam. He spent most of his life in Amsterdam where his father Isaac was occupied in the banking business. Joseph became a respected merchant and an elegant Spanish poet. He was elected to several posts in the Jewish and in the financial communities, such as president of the Academia de los Sitibundos and secretary of the Academia de los Floridos, founded by Manuel de Belmonte.
Penso wrote over 200 letters to different princes and statesmen, and was a prolific author, "the marvel of the academies, who made his work proof against criticism by presenting his subject in ordered form; delicate in his sentiments and of true refinement," as De Barrios characterizes him. About Confusion of confusions After several dramatic works and novels, in 1688 Josseph de la Vega published "Confusion de Confusiones". Taking the form of a dialogue between a philosopher, a merchant and a shareholder, it describes the workings of the Amsterdam stock exchange. Founded in 1602, the latter was the first one in the world to be created.
The book is not only a valuable historic document; it also constitutes an exceptional piece of entertainment describing the ingenuity with which the 17th century tradesman and brokers devised the various ways to influence prices. In many ways, the book is full of sound advice and highly accurate observations that are still of the greatest relevance today. Take for example his description of the four rules of the share market: 'The first rule in speculation is: Never advise anyone to buy or sell shares. Where guessing correctly is a form of witchcraft, counsel cannot put on airs.'
'The second rule: Accept both your profits and your regrets. It is best to seize what comes to hand when it comes, and not expect that your good fortune and the favourable circumstances will last.' 'The third rule: Profit on the share market is goblin treasure: at one moment, it is carbuncles, the next it is coal; one moment diamonds, and the next pebbles. Sometimes, they are the tears that Aurora leaves on the sweet morning grass, at other times, they are just tears.' 'The fourth rule: He who wishes to become rich through this game must have both money and patience.' Originally written in Spanish, this well-known and well-regarded masterpiece had never been fully adapted into English. It is now available in English at Sonsbeek Publishers.