Posts Tagged ‘potent directors fallacy’

A brief look at history – the crash of 1929

September 1929 – the slide begins

After reaching its then all time high of 381,17 on September 3, 1929, the Dow Jones Industrials Average began what was at first a fairly slow slide. From the beginning of June to the first trading day of September, the average had gained 79 points – almost as much as in all of 1928, which was already a fairly spectacular year. Margin credit exploded during the summer of 1929 by an average of $400 million per month, then a huge sum.

View the full article »