Two million Frenchmen believe that they cannot be wrong
Few Western nations have shown such distrust of the stock market as France. For decades, the average Frenchman has preferred stashing away gold coins to investing in the country's industry. For the past two years, however, the French Bourse has been on a rampage, thanks to a campaign by President Valéry Giscard d'Estaing to "make the French owners of France."
The Paris Bourse is now the hottest stock exchange in Europe. Its stock index has risen 80% since the beginning of 1978, a period during which the New York Stock Exchange's Dow Jones industrial...
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