FINANCIAL QUOTES FROM BEFORE THE CRASH
Myron E. Forbes, President, Pierce Arrow Motor Car Co.:
"There will be no interruption of our permanent prosperity."
(January 12, 1928)
E. H. H. Simmons, President, New York Stock Exchange:
"I cannot help but raise a dissenting voice to statements
that we are living in a fool's paradise, and that prosperity in
this country must necessarily diminish and recede in the near
future."
(January 12, 1928)
Irving Fisher, The Most Prestigious Economist of His Day:
"Stock prices have reached what looks like a permanently
high plateau. I do not feel that there will soon, if ever, be a
fifty or sixty point break below present levels, such as Mr.
Babson has predicted. I expect to see the stock market a good
deal higher than it is today within a few months."
(October 16, 1929)
"I believe the breaks of the last few days have driven
stocks down to hard rock. I believe that we will have a ragged
market for a few weeks and then the beginning of a mild bull
movement that will gain momentum next year."
(October 22, 1929)
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