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| Author: | Statman, M. |
| Title: | A Century of Investors |
| Journal: | Financial Analysts' Journal
2003 : MAY-JUN, VOL. 59:3, p. 52-59 |
| Index terms: | INVESTMENT INVESTORS FINANCE THEORIES |
| Language: | eng |
| Abstract: | Today's investors are more rapidly informed than their predecessors a century ago, but they are neither better informed nor better behaved. This article presents a picture of investors in the 1906-18 period from questions to World's Work magazine and compares investors then with today's investors. The period included substantial stock market declines and increases. Investors in the early 20th century hoped to make their fortunes from mines, automobiles, and wireless telegraphs; they could hardly imagine today's Internet. Yet, investment warnings then are similar to warnings today, and lessons that should have been learned then need to be repeated today. |
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