Summary of Adam Smith's Supermoney - E-book - ePub

Please note: This is a companion version & not the original book. Sample Book Insights: #1 The American people were extremely confident in the 1970s. They thought they could make events behave rationally, and they were willing to negotiate from fear. But events didn't listen. #2 The money community, which is in charge of much of the country's liquid wealth, is affected by the changing attitudes about work and play and people. #3 The 31 million shareholders were beginning to cash in their mutual funds, and the minus signs were getting fatter on line 30 of the Federal Reserve's computer print-out labeled Flow of Funds, The Sector Statements of Saving and Investment: Households, Personal Trusts, and Nonprofit Organizations. #4 I spoke with a man who had made a lot of money in the market.
He told me that his dentist's wife had made a lot of money in the market in the 1960s. She gave most of it back, went into a deep depression, and now she is in group therapy.