Over the next few days we were to witness a drop in equity values as large as the Great Crash of 192.9 when bankrupt brokers leapt to their deaths from the skyscrapers of lower Manhattan. This time no one jumped, but one man lost £308 million. ‘It’s only paper’, he said. ‘It was paper when we started and it’s paper now’. On Black Thursday October 24 1929 12,894,650 shares had changed hands. And as reported by John Kenneth Galbraith in his book on the Great Crash, most did so at ‘prices which shattered the dreams and hopes of those who had owned them’.
The same was true of October 1987. What Galbraith had observed in 1929 was repeated almost to the letter:
‘Of all the mysteries of the Stock Exchange, there is none so impenetrable as why there should be a buyer for everyone who seeks to sell. October 24 1929 showed that what is mysterious is not inevitable. Often there were no buyers, and only after wide vertical declines could anyone be induced to bid’.
Best 35 Charming Scene Hairstyles For Girls , Top 35 Charming Scene Hairstyles For Girls , 35 Charming Scene Hairstyles For Girls 2016, 2016 35 Charming Scene Hairstyles For Girls .
35 Charming Scene Hairstyles For Girls Photo Gallery
Maybe You Like Them Too
- Best Exercise For Pregnant Women
- Prom Hair And Makeup Ideas
- Fast Easy Weight Loss Tips
- Best Exercises When Pregnant
- 10+ Bride Makeup Ideas