3min chapter

Forward Guidance cover image

Learning From the Most Ruthless Robber Baron (Jay Gould) | Greg Steinmetz

Forward Guidance

CHAPTER

The Origins of Investor Psychology

Investor psychology like during Gould's time now sort of I feel like it oscillates drastically between extreme optimism and extreme pessimism. There wasn't really a retail market until after the Civil War then the railroads created that opportunity because there was a lot of stock that was being bought and sold every day. A lot of people rushed in when they were falling people panicked and you couldn't get them to part with their money on investors psychology which is very similar to what it is today.

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