Features bankers, actors, economists, speculators such as Michael J. Meehan, Charles Mitchell, William C. Durant, Julius (Groucho) Marx, Roger W. Babson, John Kenneth Galbraith and John Jacob Raskob.
The twenties was a decade of unbridled optimism and prosperity...that ended with a massive nosedive. What hasn't changed is the nature of speculative bubbles. When the shoe shine boy is tipping you on stocks it is time to get out. However, people still want to ride the wave on 'The Greater Fool' theory. Once the straw breaks the camel's back, everyone wants to lock in their profits and head to the emergency exit in one gigantic stampede. Unfortunately some get crushed. What has changed are the regulations. In the twenties, there was an inner circle who manipulated stock prices - frontrunning was legal. Today pump-and-dumps still happen, they are just not legal and are watched more closely by the SEC. Emotions and the human character have not changed. As long as we have that, we have an exciting market.
This short documentary (<1hr) is well worth it.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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