“Perhaps the most significant concerns the actual mechanics of a share price manipulation scheme involving Le Maire. Unlike most manipulations, where forward contracts are used to create a short squeeze resulting in rising prices, the manipulation led by Le Maire involved a series of actions designed to force down the price of shares. Under pressure from the directors of the VOC, the Dutch government acted to eliminate selling of shares for forward delivery that were not owned by the seller at the time of the forward sale.”
“In the absence of Reuters, Bloombergs and other screen-based information services, eighteenth century traders and investors had to rely very largely on the coffee house and the press for information about investments and market movements.”
“In the United States a stupendous sum, reaching into millions of dollars, is wasted annually in foolish speculations and unwise investments. This senseless waste can be traced to one and only one source, namely, lack of knowledge… I do not offer you a beautiful theory which will not work in practice, but give you invaluable advice, which if followed, will insure success in practical everyday Wall Street speculations and other fields of investment.”
