Financial journalist Andrew Ross Sorkin discusses historical parallels between speculative trading before the 1929 crash and modern market conditions.
Assertion Not checkable as stated
Paul Tudor Jones Believes Current Market Resembles October 1999 Dot-Com Bubble
“I was talking to Paul Tudor Jones about a week ago, and he said, I was asking him this question about bubbles. He said, ah, I think we're in maybe like October, 1999. Right now. And I said, oh, that's interesting. Okay. 99. He said, but there's still, if you s…”
Opinion
Andrew Ross Sorkin Compares 1920s Financier John Raskob To Elon Musk
“John Raskob is Elon Musk. I mean, I got to tell you, John Raskob Created credited General Motors became a amazing investor, then takes all of his winnings, decides to get into politics, a little Elon-like decides to back Al Smith against President Hoover. By t…”
Insight
Modern Celebrity CEO Culture Began With Time Magazine Covers In The 1920s
“This was also a period where all of these guys also became celebrities for the first time that happened in the 19 twenties when, you know, time magazine would put these guys on the cover the same way they'd put Babe Ruth and Charles Lindbergh on the cover. So …”
Insight
Speculative Investing Is Necessary To Drive Innovations Like Tesla And SpaceX
“You need some speculation in the system. Like, we always say speculation is a dirty word or a bad word, but, you know, the original investors in SpaceX or in Tesla who probably thought the whole thing was insane were speculating. And you need some of that. You…”
Insight
Excessive Leverage Is The Primary Accelerant For Systemic Financial Collapses
“Leverage is to me like the match that lights the fire every time when you have too much leverage in the system, that it, that is the problem. You can actually have a lot of crazy things happening. But it's the leverage that really exacerbates it and is the acc…”
Assertion Partly supported
The 1930 Smoot-Hawley Tariff Act Caused Global Trade To Drop 60%
“Smoot-Hawley, which was this tariffs, 1930, tariffs happened. Global trade drops by 60% as a result of that.”