Home » Crash of 1929
Posted on 18 April 2011 | 4,276 views

Who Cashed Out Right Before the Stock Market Crash on October 29 1929

A few people profited in the run-up to the crash because they kept their greed in check. Sensing trouble ahead, “Speculators” Bernard Baruch and John Raskob got out of the market in early 1929 right before the stock market crash.

With his fortune intact, Bernard Mannes Baruch was an American financier, stock-market speculator, statesman, and political consultant. After his success in business, he devoted his time toward advising U.S. Presidents Woodrow Wilson and Franklin D. Roosevelt on economic matters and became a philanthropist.

John Jakob Raskob was a financial executive and businessman for DuPont and General Motors — he later suffered heavy losses when Anaconda Copper shares tanked but remained wealthy enough to develop the Empire State Building. He was chairman of the Democratic National Committee from 1928 to 1932 and a key supporter of Alfred E. Smith’s candidacy for President of the United States. Raskob, suggesting the truth of the trader’s maxim — there’s a place for bulls and bears but not pigs.

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Technorati
  • Mixx
  • Pinterest
  • Google Plus
  • Reddit
  • BlinkList
  • Blogger
  • Tumblr
  • Digg


Tags: , , , , , , , , , , , , ,

Rate This Article!
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...

Leave your response!

Add your comment below, or trackback from your own site. You can also subscribe to comments via RSS.

Be nice. Keep it clean. Stay on topic. No spam.

You can use these tags:
<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This is a Gravatar-enabled weblog. To get your own globally-recognized-avatar, please register at Gravatar.

IMPORTANT! You need to solve the following simple math (so we know that you are a human) :-)

What is 11 + 2 ?
Please leave these two fields as-is:
CommentLuv badge

Incoming Search Terms!

bernard baruch on the great 1929 crash, bernard baruchs involvement in the crash of1929, leading up to stock market crash, baruch stovk market crash