In the eve of the 1929 U.S. stock market crash, old Joseph Kennedy (the father of President Kennedy) had a shoe-shine boy polish his shoes on the streets of Wall Street.
While getting his shoes shined, the boy not only recommended stocks to him, but also enthusiastically taught him investment tricks.
Kennedy immediately realized: when even a shoe-shine kid on the street is talking about how to get rich by trading stocks, it means the last potential buyer has already entered the market.
After returning to his office, he liquidated all the stocks he held and switched to short-selling.
A few months later, the U.S. stock market suffered the most devastating crash in history. Kennedy not only escaped the crisis, but also used it to accumulate an extremely large family fortune.
When extreme optimism has fully spread to non-professional the public, it often means that market liquidity and sentiment have already been exhausted to their limit.
Buy when nobody’s interested, sell when crowds are buzzing
#黄金价格上涨
While getting his shoes shined, the boy not only recommended stocks to him, but also enthusiastically taught him investment tricks.
Kennedy immediately realized: when even a shoe-shine kid on the street is talking about how to get rich by trading stocks, it means the last potential buyer has already entered the market.
After returning to his office, he liquidated all the stocks he held and switched to short-selling.
A few months later, the U.S. stock market suffered the most devastating crash in history. Kennedy not only escaped the crisis, but also used it to accumulate an extremely large family fortune.
When extreme optimism has fully spread to non-professional the public, it often means that market liquidity and sentiment have already been exhausted to their limit.
Buy when nobody’s interested, sell when crowds are buzzing
#黄金价格上涨