How Joe Kennedy Avoided The Stock Market Crash Of 1929
Joe Kennedy is the father of former president John F. Kennedy.
Joe made most of his money in the stock market. He traded stocks in the roaring 20s when there was little regulation and “anything goes” attitude surrounding all of Wall Street.
Joe famously avoided the Great Depression, and stock market crash of 1929. He sold his entire portfolio days before the crash. But how did he do it? This one anecdatoe explains it all:
“Joe Kennedy exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good.
http://www.exploringmarkets.com/2014/11/how-joe-kennedy-avoided-stock-market.html
Oh thanks I need to try to keep that anecdote in mind. But really... well I guess that is the point though... no, I am no shoeshine guy and I am no joe Kennedy either, lol.