Speculating in markets, and losing, is as old as the hills. So are the solutions to curb it.
It should come as no surprise that market bubbles are inflated on mass speculation. After the bubble bursts, and the dust settles, the calls to prevent it from happening again grow louder.
The most transformative of these episodes followed the 1929 crash. Congress held hearings and blame was passed.
Edwin Lefevre wrote a scathing piece against speculation just two months shy of the 1932 bottom. In it, he pointed out the culprits behind the biggest bubble in history: Continue Reading…