Normally, it took two or three years for stock prices to align with the actual performance of their companies.
But in America, no one cared about fundamentals anymore.
Stocks were bought and sold at a frenetic pace—today's buy became tomorrow's sell, and the day after's gamble.
"Tell me," the man asked the boy, "do you know that companies are releasing their earnings reports this week?"
"Earnings reports? Like school report cards?"
"…Forget it."
Leaving his shoes half-shined, the man tossed a nickel to the boy and hurried toward the stock exchange.
"Sell all my shares immediately," the man gasped, catching his breath.
"Is this about JH Investment's shorting spree?" the broker asked.
"What shorting spree?"
"This morning, JH Investment unloaded massive short positions. It's caused some dip in prices, but they'll bounce back by tomorrow."
The man froze. It was news he hadn't yet heard.
