{"id":476,"date":"2020-01-24T09:48:10","date_gmt":"2020-01-24T09:48:10","guid":{"rendered":"http:\/\/generic.wordpress.soton.ac.uk\/history\/?p=476"},"modified":"2024-08-31T17:05:52","modified_gmt":"2024-08-31T16:05:52","slug":"history-at-the-stock-market","status":"publish","type":"post","link":"https:\/\/generic.wordpress.soton.ac.uk\/history\/2020\/01\/24\/history-at-the-stock-market\/","title":{"rendered":"History at the Stock Market"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">History at the Stock Market<\/h2>\n\n\n\n<p>by Dr Jon Conlin<\/p>\n\n\n\n<p>Back on 15 November a group of students studying the history of Middle East oil visited the university\u2019s Bloomberg Suite, normally the haunt of economics students. Their task: to price the IPO of the decade, Saudi Aramco, by bringing their historical understanding of long-term trends to bear on real-time market data accessible via the Bloomberg terminals. <\/p>\n\n\n\n<ul class=\"wp-block-gallery columns-1 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\"><li class=\"blocks-gallery-item\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"2016\" height=\"1512\" data-attachment-id=\"478\" data-permalink=\"https:\/\/generic.wordpress.soton.ac.uk\/history\/2020\/01\/24\/history-at-the-stock-market\/bloombergsuite-1\/\" data-orig-file=\"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?fit=2016%2C1512&amp;ssl=1\" data-orig-size=\"2016,1512\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"BloombergSuite-1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?fit=660%2C495&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?fit=660%2C495&amp;ssl=1\" alt=\"\" data-id=\"478\" data-link=\"https:\/\/generic.wordpress.soton.ac.uk\/history\/?attachment_id=478\" class=\"wp-image-478\" srcset=\"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?w=2016&amp;ssl=1 2016w, https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?resize=300%2C225&amp;ssl=1 300w, https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?resize=768%2C576&amp;ssl=1 768w, https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?resize=1024%2C768&amp;ssl=1 1024w, https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?resize=700%2C525&amp;ssl=1 700w, https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite-1.jpeg?w=1320 1320w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\" \/><figcaption>History honours students explore the capabilities of Bloomberg terminals to price the Saudi ARAMCO initial public offering.<\/figcaption><\/figure><\/li><\/ul>\n\n\n\n<p>Now, two months on, how well did these students (historians, remember!) perform? Their estimates ranged from a low of $1 trillion to $2 trillion, Mohammed Bin Salman\u2019s target. Although the $2 trillion target was hit in the days after 1.5% of the firm was floated on Riyadh\u2019s Tadawul exchange, subsequent events in the Gulf have seen them slide. <\/p>\n\n\n\n<p>Those seeking financial advice could do worse than consult one of the student teams, \u201cLeamen Brothers\u201d, whose $1.8 trillion figure is beginning to look rather sensible. Our students\u2019 advice is likely to come with a far, far smaller price tag than the raft of investment banks MBS hired to perform the same task.  <\/p>\n","protected":false},"excerpt":{"rendered":"<p>History at the Stock Market by Dr Jon Conlin Back on 15 November a group of students studying the history of Middle East oil visited the university\u2019s Bloomberg Suite, normally the haunt of economics students. Their task: to price the IPO of the decade, Saudi Aramco, by bringing their historical understanding of long-term trends to bear on real-time market data &#8230;<\/p>\n","protected":false},"author":3768,"featured_media":477,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[9],"tags":[95,63,93,94],"class_list":["post-476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-undergraduate","tag-bloomberg","tag-oil","tag-saudi-arabia","tag-saudi-aramco","column","threecol","has-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2020\/01\/BloombergSuite.jpeg?fit=2016%2C1512&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9DnLX-7G","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":545,"url":"https:\/\/generic.wordpress.soton.ac.uk\/history\/2021\/02\/04\/teaching-in-an-age-of-covid\/","url_meta":{"origin":476,"position":0},"title":"Teaching in an Age of COVID","author":"Jonathan Hunt","date":"4th February 2021","format":false,"excerpt":"Professor Neil Gregor Avenue Campus, where single and dual honours History students once congregated en masse. This year has brought its challenges for tutors and students alike.\u00a0 But the need to rethink how we deliver our teaching has also brought its advantages. These are not only practical \u2013 they have\u2026","rel":"","context":"In &quot;Comment and debate&quot;","block_context":{"text":"Comment and debate","link":"https:\/\/generic.wordpress.soton.ac.uk\/history\/category\/comment-and-debate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2021\/02\/Dr-Joan-Tumblety.jpg_SIA_JPG_fit_to_width_INLINE.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":887,"url":"https:\/\/generic.wordpress.soton.ac.uk\/history\/2025\/11\/25\/ancient-history-seminar-with-josephine-quinn\/","url_meta":{"origin":476,"position":1},"title":"Ancient History Seminar with Josephine Quinn","author":"Craig Lambert","date":"25th November 2025","format":false,"excerpt":"Dr Annelies Cazemier On Wednesday 5th November 2025, Professor Josephine Quinn spoke to our Departmental research seminar about her book, How the World Made the West. It has received rave reviews and was described by William Dalrymple (among others) as \u2018one of the most fascinating and important works of global\u2026","rel":"","context":"In &quot;Notes from the archive&quot;","block_context":{"text":"Notes from the archive","link":"https:\/\/generic.wordpress.soton.ac.uk\/history\/category\/notes-from-the-archive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2025\/11\/Quinn-Cover-9781526605184-1.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2025\/11\/Quinn-Cover-9781526605184-1.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2025\/11\/Quinn-Cover-9781526605184-1.jpg?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2025\/11\/Quinn-Cover-9781526605184-1.jpg?resize=700%2C400 2x"},"classes":[]},{"id":918,"url":"https:\/\/generic.wordpress.soton.ac.uk\/history\/2025\/12\/10\/hist6135-themes-in-medieval-and-early-modern-history-trip-to-sailsbury\/","url_meta":{"origin":476,"position":2},"title":"HIST6135: Themes in Medieval and Early Modern History Trip to Sailsbury","author":"Craig Lambert","date":"10th December 2025","format":false,"excerpt":"On a cold and frosty late November morning, MA students taking Themes in Medieval and Early Modern History, along with two staff members, gathered outside Southampton Central railway station to catch the train to Salisbury for a day exploring the attractions of this medieval city. We began inside the cathedral's\u2026","rel":"","context":"In &quot;Notes from the archive&quot;","block_context":{"text":"Notes from the archive","link":"https:\/\/generic.wordpress.soton.ac.uk\/history\/category\/notes-from-the-archive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2025\/12\/Salisbury_Cathedral_Cathedral_Close_Wiltshire.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":532,"url":"https:\/\/generic.wordpress.soton.ac.uk\/history\/2021\/01\/07\/edgar-feuchtwanger-obe\/","url_meta":{"origin":476,"position":3},"title":"Edgar Feuchtwanger, OBE","author":"Jonathan Hunt","date":"7th January 2021","format":false,"excerpt":"By Tony Kushner The History Department and the Parkes Institute are delighted to share the good news that Edgar Feuchtwanger has been awarded an OBE in the 2021 Queen\u2019s Honours \u00a0List for services to \u2018Anglo-German understanding and history\u2019. Edgar, who was born in Munich in 1924 into a distinguished German\u2026","rel":"","context":"In &quot;Notes from the archive&quot;","block_context":{"text":"Notes from the archive","link":"https:\/\/generic.wordpress.soton.ac.uk\/history\/category\/notes-from-the-archive\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2021\/01\/Edgar-and-Neil-72.jpg_SIA_JPG_fit_to_width_INLINE.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":290,"url":"https:\/\/generic.wordpress.soton.ac.uk\/history\/2018\/10\/23\/world-war-one-student-protests-in-china-and-the-foundation-of-the-chinese-communist-party\/","url_meta":{"origin":476,"position":4},"title":"World War One, Student Protests in China and the Foundation of the Chinese Communist Party","author":"Eve Colpus","date":"23rd October 2018","format":false,"excerpt":"Within the centenary commemorations of the First World War, one history-making aspect that is often overlooked is what the war had to do with the foundation by young Chinese intellectuals of the Chinese Communist Party, the party that continues to govern China today. In this Blog post, Elisabeth Forster discusses\u2026","rel":"","context":"In &quot;Comment and debate&quot;","block_context":{"text":"Comment and debate","link":"https:\/\/generic.wordpress.soton.ac.uk\/history\/category\/comment-and-debate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/generic.wordpress.soton.ac.uk\/history\/wp-content\/uploads\/sites\/236\/2018\/10\/Chineselabourers-300x219.png?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":64,"url":"https:\/\/generic.wordpress.soton.ac.uk\/history\/2018\/01\/31\/staff-qa-alan-ross\/","url_meta":{"origin":476,"position":5},"title":"Staff Q&amp;A: Alan Ross","author":"George Gilbert","date":"31st January 2018","format":false,"excerpt":"Today, we have another interview, this time with Dr Alan Ross. History at Southampton: How would you describe yourself as a historian? Alan Ross: I tend to think of myself as a traditional Classicist: I use detailed linguistic and textual interrogation of ancient authors to answer literary, philosophical, and historical\u2026","rel":"","context":"In &quot;Meet the Department&quot;","block_context":{"text":"Meet the Department","link":"https:\/\/generic.wordpress.soton.ac.uk\/history\/category\/meet-the-department\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/posts\/476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/users\/3768"}],"replies":[{"embeddable":true,"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/comments?post=476"}],"version-history":[{"count":3,"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/posts\/476\/revisions"}],"predecessor-version":[{"id":524,"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/posts\/476\/revisions\/524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/media\/477"}],"wp:attachment":[{"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/media?parent=476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/categories?post=476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/generic.wordpress.soton.ac.uk\/history\/wp-json\/wp\/v2\/tags?post=476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}