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Learning From the Most Ruthless Robber Baron (Jay Gould) | Greg Steinmetz
Forward Guidance
Greg Gould's Deposit Trick
In our modern financial system there's the sort of a law of par that my banking deposit at JP Morgan is the same as your banking deposit at Bank of America. No such regulation in Gould's day, not at all. In order he had a short position on the Erie Railroad. He thought well what I can do is I can blow up the whole market and Erie because it has more leverage that will fall more than most. Yeah, one of the more audacious things to me it's really mind blowing what he did in this case.
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