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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (43006)	11/13/2021 12:18:16 AM
From: Sun Tzu	1 Recommendation Recommended By ajtj99 Read Replies (1) \| Respond to of 97285

Correction - it was not the late 1800s. This is the episode i was thinking of: In the Panic of 1907, Livermore's huge short positions made him $1 million in a single day. [6] However, his mentor, J. P. Morgan, who had bailed out the entire New York Stock Exchange during the crash, requested him to refrain from further short selling. Livermore agreed and instead, profited from the rebound, boosting his net worth to $3 million. [6] And here's the other part: Following the end of World War I, Livermore secretly cornered the market in cotton. It was only interception by President Woodrow Wilson, prompted by a call from the United States Secretary of Agriculture, who asked him to the White House for a discussion that stopped his move. He agreed to sell back the cotton at break-even, thus preventing a troublesome rise in the price of cotton. When asked why he had cornered the cotton market, Livermore replied, "To see if I could, Mr. President." [14]