MARKETS CHANGE, PEOPLE DON'T
Larry Hite said, “People don't change. That is why this whole game works. In 1637, tulips in Holland traded for 5,500 florins and then crashed to 50, a 99 percent loss.
Well, you might say, Trading was relatively new then; these people were primitive; capitalism was still in its infancy. Today we are much more sophisticated.
So you go to 1929 and find a stock like Air Reduction which traded at a high of $233 and after the crash fell to $31, a decline of 87 percent. OK, you might say, the Roaring '20s were crazy times, but now things are surely different...”
#SoMeeTips
#SoMeeOriginals
#AweSoMee
Larry Hite said, “People don't change. That is why this whole game works. In 1637, tulips in Holland traded for 5,500 florins and then crashed to 50, a 99 percent loss.
Well, you might say, Trading was relatively new then; these people were primitive; capitalism was still in its infancy. Today we are much more sophisticated.
So you go to 1929 and find a stock like Air Reduction which traded at a high of $233 and after the crash fell to $31, a decline of 87 percent. OK, you might say, the Roaring '20s were crazy times, but now things are surely different...”
#SoMeeTips
#SoMeeOriginals
#AweSoMee
MARKETS CHANGE, PEOPLE DON'T
Larry Hite said, “People don't change. That is why this whole game works. In 1637, tulips in Holland traded for 5,500 florins and then crashed to 50, a 99 percent loss.
Well, you might say, Trading was relatively new then; these people were primitive; capitalism was still in its infancy. Today we are much more sophisticated.
So you go to 1929 and find a stock like Air Reduction which traded at a high of $233 and after the crash fell to $31, a decline of 87 percent. OK, you might say, the Roaring '20s were crazy times, but now things are surely different...”
#SoMeeTips
#SoMeeOriginals
#AweSoMee
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