by Teeka Tiwari
Fake news… It’s everywhere. But it’s not a new story…
As a young stockbroker, I read how the great speculators of the early 1900s would float negative stories. They’d crash shares so they could cash in on short positions.
Others would whisper bullish stories into the ears of clueless newsmen so they could dump overpriced shares onto the public.
From Jay Gould to Jesse Livermore, Wall Street’s history is littered with moneymen playing the media for personal profit. Given there were no rules governing stock trading back then, it was easy for them to move stock prices.
I wish I could say that has changed… It hasn’t.