The History of the Stock Market Podcast

From the first share sales on the New‑York and Harlem Railroad to the birth of bid–ask trading, underwriting, and early market making, this episode traces how 19th‑century rail finance forged the mechanics that still underlie today’s exchanges. It explores the grassroots origins of modern securities markets and their lasting influence on capital formation.

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Join Josh Linsk as he traces the story of inflation’s influence on equity valuation from the roaring twenties, through the Great Depression and stagflation, up to today’s high‑frequency markets. Discover how shifts in price expectations have forced investors, regulators, and technology to reinvent the rules of the game.

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Explore how 17th‑century Dutch grain merchants—using forward contracts for herring and rye—funded the VOC, pioneered early futures, and laid the groundwork for modern commodity markets. From silver coffers to Bitcoin’s mining rewards, the episode traces a continuous thread of commodity‑backed trading.

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The episode explores how the Panic of 1893 exposed the fragility of a gold‑standard system and triggered reforms that reshaped banking, securities markets, and regulatory oversight. From J.P. Morgan’s emergency rescue to the birth of the Federal Reserve and new disclosure rules, we trace the ripple effects that still echo in today’s high‑frequency trading world.

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This episode traces how Benjamin Graham’s 1934 book *Security Analysis* forged a disciplined framework for valuing stocks, reshaping investor behavior, institutional practice, and the regulatory landscape that still underpins today’s exchanges.

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Seth Klarman began with a modest $27 million and grew the Baupost Group into a multi‑billion‑dollar powerhouse by championing Benjamin Graham’s margin‑of‑safety philosophy. This episode traces his disciplined, low‑profile investment approach, how it weathered crises like 2008, and why his quiet wisdom still shapes modern value investing.

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This episode traces how corporate scandals—from Enron’s accounting fraud to the subprime mortgage crisis—forced a seismic shift in market regulation, reshaping transparency, audit independence, and investor trust. We explore the reforms of Sarbanes‑Oxley and Dodd‑Frank, their impact on corporate governance, and the lasting legacy for today’s markets.

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This episode dives into Paul Volcker’s crusade against banks’ proprietary trading, tracing how a former Fed chairman’s battle over risk shaped the Dodd‑Frank Act. We examine the rule’s origins, political tug‑of‑war, implementation challenges, and its lasting impact on banking, liquidity, and regulatory policy.

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This episode follows Charles W. Morse, the Maine ice magnate whose ambitious copper corner in 1907 exposed a fragile financial system and spurred the creation of the Federal Reserve. We trace how his empire—from ice to steamships and banks—unveiled systemic risks that reshaped regulation, market architecture, and the role of central banking.

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After World War I, a surge of gold and foreign currency flooded American banks, creating an inflation bubble that collapsed in early 1920. This episode explores the swift market downturn, its brief recovery, and how the regulatory vacuum left lessons for future crises.

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