Not for the faint of heart. Don’t read it if you’re worried about the economy.
This book is a bit like the Great Depression itself: the reader starts out feeling optimistic; however both the events and the writing rapidly deteriorate. The situation doesn’t seem to end until the last page of the book.
I’ve especially had an overdose of the sentence “business has come to a complete standstill”.
Although it’s not a particular pleasant read, it is an interesting book that teaches a few important lessons on the dangers of speculation. ( )

Who was Benjamin Roth?
He was a lawyer, his wife a piano teacher. Although he looked forward to retirement, he never did.

The diaries.
In 1978 he handed his son 14 handwritten notebooks ranging from 1931 to 1978. This book goes up to 1941, when the second world war ended the depression.

Why did he write the diary?
He was determined to learn as much as possible about economic issues to understand what brought on The Great Depression and how to survive if there was another one. His writings ask the central question of how should an honest person create wealth, protect it, and build it throughout a lifetime?

What does the diary cover?
The book's perspective is finance and politics, not so much about his personal life through the depression.

Before the crash.
During the Roaring 20s, everyone thought the "New Era" would never end, so signs that started showing their face in 1924 were missed. "The air was full of warnings…." Investment scams were abundant. Stocks were rated at 20 to 40 times their value. Yet, leaders kept assuring people everything was fine.

After the crash.
Nobody had any money. Panic ensued. Suicide and bankruptcy became the order of the day. Banks closed. Depositors demanded their money, but very few got it. From 1929 to 1931, the jobless number grew to 8 million. Dabbling in socialism, President Roosevelt instituted government-sponsored jobs, but recovery attempts fizzled out.

What can be culled from the diary?
1. "Pump priming" and other economic interventions did not work well. So capitalism had to work things out naturally.
2. Since investments tanked and "cash was king," having a "liquidity" source should be incorporated in a protection plan. A certain amount of cash, bonds, and other liquid securities should be set aside for a crisis.
3. Not too much capital should be risked on one particular strategy.
4. Deal only with well-seasoned investments.
5. Buy stocks outright, not on margin.

Note: The above are Roth's impressions. They are not recommendations from me. ( )

A somewhat interesting book which gives you an insiders view on depression life. But reading someone else's diary is also somewhat tedious. So only recommended for the truly serious student if finance. ( )

Very interesting perspective of the times, but only as it relates to business and US politics. He gives very little about his personal struggles and his family.
Enjoyed comparing to things now- not so different! ( )