At a crisis point in the 1929 stock-market panic, the late great John D. Rockefeller Sr., then 90, issued a calm statement from his home at Pocantico Hills on the Hudson: "My son and I are buying sound common stocks." Some Wall Street cynics thought his real interest in the plunging market was to cover up a big short position, but John D.'s millions induced buying confidence that stemmed the terrible tide for one day. Last week the tickers clicked out a statement that sounded like old John D. talking backwards: his...
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