Who made money during the 1929 stock market crash?
Cecil replies: Can’t complain, but smart didn’t have much to do with it. Forget to invest in your retirement account: if you don’t bet, you can’t lose. You can’t beat a system like that. Tales of people making out like bandits just before or during the 1929 stock market crash are relatively rare, possibly because the fortunate few kept it to themselves given the mood of the times. But we can be certain some did well — a panic sale for one guy often means an easy profit for somebody else. Years ago I told how Joseph Kennedy, father of John F. et al, made his fortune in part by liquidating stocks right before the crash. Joe wasn’t the only operator out there. Here are the stories of a few more: The classic way to profit in a declining market is via a short sale — selling stock you’ve borrowed (e.g., from a broker) in hopes the price will drop, enabling you to buy cheaper shares to pay off the loan. One famous character who made money this way in the 1929 crash was speculator Jesse Lauris
I know being so smart, you’re probably laughing all the way to the bank during this one. — Bernard, currently in Accra, Ghana Cecil replies: Can’t complain, but smart didn’t have much to do with it. Forget to invest in your retirement account: if you don’t bet, you can’t lose. You can’t beat a system like that. Tales of people making out like bandits just before or during the 1929 stock market crash are relatively rare, possibly because the fortunate few kept it to themselves given the mood of the times. But we can be certain some did well — a panic sale for one guy often means an easy profit for somebody else. Years ago I told how Joseph Kennedy, father of John F. et al, made his fortune in part by liquidating stocks right before the crash. Joe wasn’t the only operator out there. Here are the stories of a few more: The classic way to profit in a declining market is via a short sale — selling stock you’ve borrowed (e.g., from a broker) in hopes the price will drop, enabling you to buy
