# MARKETS / 400 YEARS

Canonical URL: https://shipslides.com/d/catalog-business-stock-market
Raw viewer URL: https://content.shipslides.com/d/catalog-business-stock-market/raw
Category: Business
Slides: 13
Updated: 2026-05-17T20:56:01.762Z
Tags: catalog, business, stock, market

## Summary

FROM 1602 // TO PRESENT // 13 SLIDES Key sections include: MARKETS / 400 YEARS; 1602; 1720; 1792; 1907; 1929; 1975; 1987; 2000; 2008.

## Slide Outline

1. MARKETS / 400 YEARS
2. 1602
3. 1720
4. 1792
5. 1907
6. 1929
7. 1975
8. 1987
9. 2000
10. 2008
11. 2010s+
12. FOUR CENTURIES, ONE PATTERN.
13. FURTHER READING

## Slide Transcript

### Slide 1: MARKETS
/ 400 YEARS

- ──── BLOOMBERG TERMINAL // SESSION 01 ────
- A history of stock exchanges, from Amsterdam to algorithms
- FROM 1602 // TO PRESENT // 13 SLIDES
- QUICK QUOTES
- SPX
- 5,184.32 ▲ 0.42%
- NDX
- 18,302.10 ▲ 0.61%
- DJI
- 39,512.84 ▼ 0.18%
- VIX
- 14.22 ▼ 1.10%
- PRESS → OR SPACE TO BEGIN

### Slide 2: 1602

- ──── HISTORY // ORIGINS ────
- DUTCH EAST INDIA COMPANY (VOC)
- The Vereenigde Oostindische Compagnie issues the world's first publicly traded shares on the Amsterdam Beurs. Anyone with capital can buy a piece of the company — and sell it again.
- First permanent stock exchange in human history
- Originated dividends, share certificates, secondary trading
- Pioneered short-selling (Isaac Le Maire, 1609) — promptly banned
- VOC paid an annual dividend averaging ~18% for nearly 200 years
- "The first multinational corporation in the world."
- VOC // SHARE PRICE (INDEXED)
- ▁▂▂▃▃▄▅▅▆▆▇█

### Slide 3: 1720

- ──── HISTORY // FIRST MANIAS ────
- SOUTH SEA & MISSISSIPPI BUBBLES
- Two simultaneous speculative manias — one in London, one in Paris — teach Europe what a bubble is. Both schemes promised fortunes from colonial trade. Both ended in ruin.
- South Sea Co. shares: £128 → £1,000 → £124 in months
- John Law's Mississippi Co. wipes out the French monetary system
- Isaac Newton loses ~£20,000 (millions today)
- "I can calculate the motions of heavenly bodies, but not the madness of men."
- SOUTH SEA CO. // 1720
- ▁▂▃▅▇█▇▅▃▂▁▁
- Pump. Dump. Repeat — for the next 300 years.

### Slide 4: 1792

- ──── HISTORY // NYSE ORIGIN ────
- THE BUTTONWOOD AGREEMENT
- 24 stockbrokers gather under a buttonwood (sycamore) tree at 68 Wall Street. They sign a 400-word agreement to trade only with each other and charge a fixed 0.25% commission. The New York Stock Exchange is born.
- Originally just 5 securities traded
- Moved indoors to the Tontine Coffee House in 1793
- Renamed "New York Stock & Exchange Board" in 1817
- Today: ~$25T market cap of listed companies
- 68 WALL ST // BUTTONWOOD

### Slide 5: 1907

- ──── HISTORY // PANIC ────
- THE PANIC — AND J.P. MORGAN
- A failed corner on United Copper triggers runs on trust companies. The NYSE nearly closes. There is no central bank. The U.S. financial system is held together by one 70-year-old man in a library on Madison Avenue.
- NYSE down -50% from previous year's peak
- J.P. Morgan locks bankers in his library; refuses to release them until they pledge $25M
- Rescues the Trust Company of America & Knickerbocker
- Aftermath: 1913 Federal Reserve Act — America gets a central bank
- DOW // 1906 — 1908
- EVENTYEAR
- Panic of 19071907
- Aldrich-Vreeland Act1908
- Jekyll Island meeting1910
- Federal Reserve Act1913

### Slide 6: 1929

- ──── HISTORY // THE GREAT CRASH ────
- BLACK TUESDAY — OCT 29
- The roaring 20s meet a brick wall. Margin debt has tripled. Shoeshine boys give stock tips. On Black Thursday and Black Tuesday, the floor of the NYSE becomes pandemonium.
- Sept 3, 1929 peak: DJIA 381.17
- Black Tuesday: 16.4M shares traded — record stood 40 years
- July 8, 1932 trough: DJIA 41.22
- -89.2% peak-to-trough — recovery took until 1954
- Triggers the Glass-Steagall Act & the SEC (1934)
- DJIA // 1928 — 1932
- █▇▆▅▄▃▂▂▁▁▁▁
- -89.2% peak → trough

### Slide 7: 1975

- ──── HISTORY // INDEX REVOLUTION ────
- JOHN BOGLE & THE INDEX FUND
- After being fired from Wellington in 1974, John Bogle founds Vanguard. In 1976 he launches the First Index Investment Trust — mocked at the time as "Bogle's Folly." It tracks the S&P 500. Costs almost nothing. The whole industry laughs.
- Premise: most active managers don't beat the index after fees
- 1976 launch raised only $11M vs $150M target
- By 2024: index funds hold >50% of U.S. fund assets
- Vanguard AUM today: ~$9 trillion
- "Don't look for the needle. Buy the haystack." — J. Bogle
- > YOUTUBE: john bogle index funds
- FEES // ACTIVE vs INDEX (bps)
- A 1% fee over 40 yrs = ~28% of final wealth lost.

### Slide 8: 1987

- ──── HISTORY // BLACK MONDAY ────
- BLACK MONDAY — OCT 19
- The Dow drops -22.6% in a single day — still the largest one-day percentage drop in U.S. history. There was no obvious news catalyst. Just a feedback loop.
- "Portfolio insurance" auto-sold futures as prices fell
- Selling triggered more selling — first algorithmic crash
- Markets recovered most losses within 2 years
- Birth of "circuit breakers" — mandatory trading halts
- DJIA // OCT 1987 (CANDLE)
- ▇▆▅▄▃▁▂▃▄▄▅▅

### Slide 9: 2000

- ──── HISTORY // DOT-COM BUST ────
- THE NASDAQ COLLAPSES
- Companies with no revenue trade at billions. Pets.com, Webvan, eToys, theGlobe.com. Greenspan warns of "irrational exuberance" in 1996 — four years too early. The bubble peaks March 2000.
- NASDAQ peak: 5,048 (Mar 10, 2000)
- NASDAQ trough: 1,114 (Oct 9, 2002)
- -78% drawdown — took 15 yrs to reclaim 5,000
- Survivors: Amazon (-94% drawdown), Apple, Cisco
- NASDAQ // 1995 — 2003
- TICKERPEAKDRAWDOWN
- PETS$14-100%
- CSCO$80-89%
- AMZN$107-94%
- YHOO$118-97%

### Slide 10: 2008

- ──── HISTORY // GFC ────
- GLOBAL FINANCIAL CRISIS
- U.S. housing prices fall. Securitized mortgages reveal hidden leverage. Lehman files for bankruptcy on September 15, 2008 — the largest in U.S. history. The system seizes.
- Bear Stearns rescued by JPM at $2/share (Mar 2008)
- Lehman Brothers: $639B in assets — bankrupt
- AIG bailout: $182B
- TARP: $700B authorized
- S&P 500: -56.8% peak to trough (Oct 2007 → Mar 2009)
- S&P 500 // 2007 — 2010
- -56.8%
- peak to trough

### Slide 11: 2010s+

- ──── HISTORY // ALGORITHMIC ERA ────
- HFT, ETFs, AND THE PASSIVE TIDE
- Trading goes electronic, then algorithmic, then microsecond. The "Flash Crash" of May 6, 2010 wipes ~$1T off U.S. equities in minutes — and recovers most of it before lunch.
- ~50% of U.S. equity volume is HFT
- Co-location, fiber races, microwave towers between NYC & CHI
- ETF AUM: $0.8T (2010) → $11T+ (2024)
- Passive funds overtake active in U.S. equities (~2019)
- Retail returns via Robinhood, GME/AMC meme rallies (2021)
- U.S. EQUITY ASSETS // PASSIVE vs ACTIVE
- █▇▆▅▄▃ ▃▄▅▆▇█

### Slide 12: FOUR CENTURIES,
ONE PATTERN.

- ──── SUMMARY // LESSONS ────
- LESSON 01
- BUBBLES REPEAT
- Tulips, South Sea, railroads, radio, dot-com, crypto. The asset changes, the psychology doesn't. Leverage + a story = mania.
- LESSON 02
- TIME > TIMING
- $1 in U.S. stocks (1900) = ~$70,000 today (real terms). Missing the 10 best days cuts that by ~half. Sit still.
- LESSON 03
- FEES COMPOUND
- A 1% fee over 40 years quietly erases ~28% of your final wealth. The house always wins, until you stop paying it.
- LESSON 04
- DIVERSIFY OR PERISH
- Of the 1900 Dow components, almost none survive intact today. The index lives forever; companies don't.

### Slide 13: FURTHER READING

- ──── EOF // REFERENCES ────
- BOOKS
- Manias, Panics, and Crashes — Charles Kindleberger
- A Random Walk Down Wall Street — Burton Malkiel
- The Intelligent Investor — Benjamin Graham
- Devil Take the Hindmost — Edward Chancellor
- When Genius Failed — Roger Lowenstein
- Liar's Poker / The Big Short — Michael Lewis
- Common Sense on Mutual Funds — John C. Bogle
- VIDEO
- youtube.com / 1929 stock market crash
- youtube.com / john bogle index funds
- END OF SESSION
- // MARKETS_400Y >
- ▁▂▃▄▅▆▇█▇▆▅▄▃▂▁


## Related Decks

- [Stock Market Basics](https://shipslides.com/d/business-stock-market-basics)
- [Behavioral Economics — When agents are human](https://shipslides.com/d/catalog-business-behavioral-econ)
- [BRAND / How meaning gets attached to things](https://shipslides.com/d/catalog-business-brand-history)
- [The Modern Corporation — Annual Report](https://shipslides.com/d/catalog-business-corporations)