Put these 20 books on your Christmas wishlist if you want to ... - Business Insider India

"Boom and Bust: A Global History of Financial Bubbles" by John D. Turner and William QuinnAmazon

In "Boom and Bust," authors Quinn and Turner dive into the history of financial busts to explain the actions investors and speculators took leading up to these crashes.

"The authors use creating fire as an analogy to bubbles. Just as fire needs fuel, heat, and oxygen, the necessary elements for a bubble are; excess money, easy liquidity, and speculation. Oftentimes, new technology acts as the spark to set things in motion," said Garrett Aird, Northwestern Mutual Wealth Management Company's vice president of investment management & research.

By providing this historical context, the book highlights the three key elements of a financial bubble to help future investors predict an upcoming economic decline.

Recommended by: Garrett Aird, vice president of investment management & research at Northwestern Mutual Wealth Management Company

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