“The state of the United States industry is absolutely reliable and the credit situation is not critical... The general interest in brokering loans is always exaggerated... In general, the exchange is in a healthy state... I am not aware of any inconsistencies in the stock exchange or with the main business and credit structure. " (In a speech by Charles Mitchell, President of American National City Bank in Germany, Sunday 20 October 1929)
Monday morning, 21 October 1929. Joseph Kennedy (the father of the next 35th President of the United States) called the boy to clean his shoes before entering the stock exchange building.
♪ Sir, do you know about the exchange game?
♪ I think that's right, a millionaire responded.
♪ I bought a dozen shares of railway companies. Can you give advice on how to deal with them?
Kennedy's senior council is unknown. But there is another. A week later, on the 28th October black Monday, he sold all his securities, virtuously leaving the market. " If the shoe cleaner plays the equity market and understands it as little as I do, we have to go, " Joseph Patrick Kennedy, one of the biggest stockholders in the 1920s, engaged. (Legenda Wall Street)
1929 (Crash of ’29) or Krahu Wall Street, almost 90. He put an end to the line of the Reverend Twentines, the jazz era, the blues and the aldeco. The camera sounded, the foxtrot and the Charleston were in fashion. Life seemed so light and careless. People wanted to get the most satisfying.
Little financial development of the twentieth century can be compared in its tragic and ramifications with the collapse of the Great Buka Market (Great Bull Market) in 1929. That far away October has some magical attraction. The events of the five exchange days 24, their pre-conditions and results have not been relevant now for those who have chosen their investment business.
Because, as Jesse Livermore wrote, " Wall Street never changes, money changes, participants change, shares change, but Wall Street never changes, because the nature of the man changes. "