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TIP520: Investing Through Post-bubble Markets w/ Jamie Catherwood
We Study Billionaires - The Investor’s Podcast Network
Open Board Trading in the 19th and Early 20th Century Markets
In the 1800s, there was a two tiered system on the New York Stock Exchange where what they called, I think, almost like a dual class system. The wealthy elite traded in tail coats and top hats and would sit in like armchairs that were deadly. Alternatively, for the people that couldn't buy those seats because they're tens of thousands of dollars, they traded on the curb exchange which was literally just the curb outside the traditional stock exchange. And so going back to that kind of cycle, obviously that access to information in itself was a competitive advantage for them. But after the ticker comes along in 1867, suddenly everybody hooked up to a ticker, receives price information
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