Andrew Ross Sorkin on the Stock Market Crash That Shattered America | Odd Lots

Almost everyone is talking as though we might be in a bubble. Regardless of how AI investment ultimately pan out, there is an incredible amount of retail speculative mania in the air. So how does this environment compare to past periods of exuberance? On this episode we speak with Andrew Ross Sorkin, the editor of Dealbook, the co-host of CNBC's Squawk Box, and the author of the new book 1929: Inside the Greatest Crash in Wall Street History--and How It Shattered a Nation. Sorkin, who previously wrote Too Big to Fail (chronicling the Great Financial Crisis of 2008), goes into the archives to discover just how in thrall the American public was to the market on the eve of the great crash. We discuss lessons from the time, similarities, and differences.

[00:00:00] - Cold Open

[00:01:20] - Intro

[00:02:41] - Guest Introduction: Andrew Ross Sorkin

[00:03:39] - Why Write About 1929 Again?

[00:06:07] Is There a Main Character of the Crash?

[00:09:06] - Retail Leverage and Consumer Credit Revolution

[00:10:26] - RCA as the Nvidia of 1929

[00:12:55] - Historic Figures and US Stock Trading

[00:15:24] - Watching Parallels Between 1929 and Now Emerge

[00:17:47] - Policy vs. the Market: What Caused the Great Depression?

[00:19:24] - The Fed’s Failure to Adjust Margin Lending Rates

[00:20:47] - Overconfidence After 1907

[00:23:27] - The Stock-Picking Astrologer: Evangeline Adams

[00:24:59] - Rumors, Information Delays and Technology

[00:27:25] - The State of the Financial Press in the 1920s

[00:28:50] - Self-Dealing and Circular Business Relationships

[00:30:23] - Andrew Ross Sorkin’s Daily Schedule

[00:32:07] - How CEOs Feel About the Market and the Trump Administration

[00:33:48] - The Great Depression and Ripping Apart America’s Psyche

[00:36:18] - Free Speech and CEO Silence

[00:37:38] - Leverage is the Problem

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Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.

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