The book covers brief history of speculative bubbles from seventeenth century onward. The reasons for speculative episodes with devastating effects are covered by one of the great economic minds of 20 th Century. The commentary is authoritative and will remind reader of perils of speculation. The tendency of individuals to overestimate their own financial acumen and to participate in speculation is the main reason for all the speculative episodes of the past. The book is a short essay with around 110 pages and should be read by every businessman, executive and most certainly by an investor. The author being a supporter of Democratic Party is a bit partial towards Democratic administrations.