Havelock London's Beddall: Where can I find a shoeshine boy?

Overcoming FOMO in markets

It was the winter of 1928 when JFK's father, Joe Kennedy, was said to have received a stock tip from a shoeshine boy: "Buy Hindenburg".

The story goes that Joe went straight to his office and sold everything, reasoning that it must be time to sell when the shoeshine boy gives you stock tips.  Valuation concerns as investors clamour for short-term certainty Markets are often characterised as being driven by fear and greed, something that is formally recognised by the field of "behavioural economics". As the coronavirus pandemic took hold markets were indeed overcome with fear - fear that a massive economic shock would wreak havoc on investors' portfolios. Central banks acted swiftly to appease these fears - "inje...