There Is A Kind Of Fear, Approaching

If You Go Back To The Time Of J.p. Morgan, The World Of High Finance Was Completely Wholesale. The Prestigious Investment Banks On Wall Street Appealed Exclusively To Large Corporations, Governments, And To Extremely Wealthy Individuals.

Stock Market Corrections, Although Painful At The Time, Are Actually A Very Healthy Part Of The Whole Mechanism, Because There Are Always Speculative Excesses That Develop, Particularly During The Long Bull Market.

The Securities Laws Of The 1930s Were So Important Because It Forced Companies To File Registration Statements And Issue Prospectuses, And It Remedied The Imbalance Of Information.

Early On, New York Already Had A National And Even International Identity.

A Crash Really Occurs When You Suddenly Have A Violent Downturn In The Market That Then Heralds A Long Bull Market.