MiB: Edward Chancellor on the Real Story of Interest

This week, we talk to financial historian Edward Chancellor. He is currently a columnist for Reuters BreakingView and an occasional contributor to The Wall Street Journal and Moneyweek. In 2008, he received the George Polk Award for Financial Reporting. Chancellor’s Author”The Devil Takes the Hindmost: A History of Financial Speculation“His New Book”The Value of Time: Real Stories of Interest” nominated for the FT’s 2022 Business Book of the Year.

We discuss Chancellor’s history as an analyst interested in speculative bubbles, what led him to write a research paper on valuations, and why the dotcom bubble looks so much like other historical bubbles. That extends to the end Devil take the hindmost Released in 1999, a few quarters before the bubble popped.

Chancellor notes “interest rates are the most important signal in a market-based economy and public prices influence all others.” Rates reflect the value of time, which is scarce and has value. They affect everything from bond yields to consumer spending to stock returns.

Here is a list of his favorite books; A transcript of our conversation on Tuesday is available here.

You can stream and download our entire conversation with podcast extras on iTunes, Spotify, Stitcher, Google, YouTube, Bloomberg and Acast. All our previous podcasts on your favorite podcast host can be found here.

Be sure to check out our Masters in Business next week with VettaFi’s Financial Futurist Dave Nadig. The ETF industry pioneer has over 25 years of ETF experience. As Managing Director of ETF.com, he was a key participant in the growth of the passive and ETF industries. Prior to this, he was Managing Director of Barclays Global Investors. He is the co-author of the definitive book on ETFs, “A comprehensive guide to exchange-traded funds“For the CFA Institute.

Book by Edward Chancellor

Edward Chancellor’s current reading

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