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Financial History: Sunday Reads
• East India Co. & Activist Investors
• Wall Street's First Corner
• What Really Drives Stock Prices?
• A History of Corners & Market Dynamics
• Short Squeezes & Bicycle Mania https://investoramnesia.com/2021/01/24/activists-short-squeezes-the-masses/
• East India Co. & Activist Investors
• Wall Street's First Corner
• What Really Drives Stock Prices?
• A History of Corners & Market Dynamics
• Short Squeezes & Bicycle Mania https://investoramnesia.com/2021/01/24/activists-short-squeezes-the-masses/
Dutch East India Co. Dividend Yield
Excerpt from an activist investor's letter to management (of the Dutch East India Company) in 1622.
Brutal.
Brutal.
Another article in today's post looked at the history of market corners from 1864 - 1928.
The RCA Corner in 1928:
In his paper on "Squeezing the Bears" during 1890s Bicycle Mania, @wquinn05 includes a chart that never fails to blow my mind no matter how many times I see it:
Just to reiterate, these are *bicycle* companies
Just to reiterate, these are *bicycle* companies
You read this table correctly.
671... SIX-HUNDRED-SEVENTY-ONE... bicycle companies went public in 2.5 years.
671.
671... SIX-HUNDRED-SEVENTY-ONE... bicycle companies went public in 2.5 years.
671.
Listen to Will’s colleague and co-author @ProfJohnTurner describe this bicycle mania further.
Get the rest of this lecture and 6+ more hours of financial history content here:
http://Investor-amnesia.teachable.com
Get the rest of this lecture and 6+ more hours of financial history content here:
http://Investor-amnesia.teachable.com
One of the best slides from that lecture:
