We last visited Britain's oldest private bank in 2009's "South Sea Bubble Survivor Says Dismantle RBS Along With Lloyds" (worth a click):Here are another half-dozen of the tiny treats:
....*From deep in the link-vault comes a tiny treasure, an analysis of Hoare's trading during the South Sea bubble (15 page PDF):The bank's archivists have continued to grant access to historians and other academics, there's another paper by Temin and Voth that I've been meaning to post, but for now, a little secret.
Riding the South Sea Bubble
By PETER TEMIN AND HANS-JOACHIM VOTHThis paper presents a case study of a well-informed investor in the South Sea bubble. We argue that Hoare’s Bank, a fledgling West End London bank, knew that a bubble was in progress and nonetheless invested in the stock: it was profitable to “ride the bubble.” Using a unique dataset on daily trades, we show that this sophisticated investor was not constrained by such institutional factors as restrictions on short sales or agency problems....MORE
Hoare's Bank has been putting some amazing history tidbits on the internet for the last couple years.
The bite-sized ephemera are in a PDF format that is meant to dissuade copying and although my favorite tech guy had them open in a minute, I think, since the bank went to the trouble of trying to lock them, we'll just do some headline links.
Manuscript of the Month...
Posted April, 2010
Maundy Coins, 1903
Posted November, 2010
Letter by Alfred Hoare 20 Nov. 1874
Posted July, 2010
Adelphi Lottery Ticket, 1774
Posted June, 2020
St. Peter's Church, Stourton
Posted February, 2011
Luscombe Castle, Devon, watercolour,by Rev John Swete, 1812
And my favorite from last week's sampler:
Posted October 2010
Coupon Bond, 7% Cotton Loan, 1863
That last little story is almost a parable, it has so many instructive principles and lessons.
Thanks to C. Hoare & Co. for sharing