Snapshot from How to Trade in Stocks
It’s 1929 and over the last 8 years the Dow average has seen an epic rise. Everyone wants to own stock, and loose leverage requirements allow it. Stock loans reach $8.5 billion; more money than was in U.S. circulation. In September stocks start to flatten out, then decline. In spite of many people telling him it was foolish to short this raging bull market, Jesse Livermore begins to…
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