4 years ago – Page 34 – Slope of Hope with Tim Knight

Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Rich Man’s Panic (3 of 3)

By Tim Knight - 4 years ago (04, Apr 2021 11:26:57 AM)

During these three-day weekends, I’ll sometimes lean on my Panic Prosperity and Progress book for an interesting morsel of content for my readers. Part 1 is here and Part 2 is here. Enjoy:

As the call rate lurched from 60% to 70% and, later, 100%, the metaphorical air supply of cash that normally enlivened the stock market was choked off. Equity prices started to sink badly, and by the afternoon of Thursday, October 24, Ransom Thomas, the president of the NYSE, went to Morgan’s office to advise him that they were going to close the stock exchange early. Morgan correctly asserted that such an act would only add to the panic and tumult, and he implored Thomas to give him time to help.

Knight — The stock market’s ascent prior to the 1907 panic, and its subsequent collapse, is represented in this price chart of the Dow Industrial Average

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Summer Stock

By Tim Knight - 4 years ago (04, Apr 2021 6:55:47 AM)

Here’s an interesting breakdown showing who it is that actually owns all those trillions in U.S. equities. Increasingly, it is foreign holders, which struck me as a surprise. Click on the image for easier readability.