It didn’t help that they had to update stock prices manually. There had been 6 months of dropping prices across the market by the time the end of May rolled around. But you’d have missed out on one of the biggest events in stock market history-the 1962 Flash Crash.Įveryone was already in an abysmal mood already. If you had been in a coma between May 28 and May 31 of that year, you wouldn’t notice much change to your investments. Take the crash that happened in 1962 as another example. The Coronavirus is scaring everyone into selling off their shares and it’s painful to watch! But I take comfort knowing that a lot of this is just emotional and that it will recover. This lesson really hit home for me this week as I lost about $1500 in the stock market. If you want to save this summary for later, download the free PDF and read it whenever you want.ĭownload PDF Lesson 1: The stock market is unpredictable and irrational, as shown by it’s three day crash and recovery in 1962.

Having trade secrets doesn’t make it impossible for you to get a new job thanks to Donald Wohlgemuth.

If you want to know how not to launch a product, look to the example of the Ford Edsel.

The three-day stock market crash and recovery of 1962 showed the world how irrational and unpredictable it is.Here are the 3 greatest lessons I’ve discovered about business:

Along the way, you will also find out why, after receiving this book as a gift from Warren Buffett, Bill Gates considers this his favorite book ever.

These are just a few of the important lessons you’ll learn in John Brooks’s Business Adventures: Twelve Classic Tales from the World of Wall Street. It’s developments like these that put an end to insider trading and also helped secure your right to work wherever you want. Whether you’ve heard of them or not, these are among the most meaningful recent business happenings. What would you say the most influential business events have been throughout the last century? Do you think of the ugliest car to launch as one? Or maybe you consider the fall of the Piggly Wiggly supermarket chain to be of significance. Listen to the audio of this summary with a free reading.fm account*:

12 business adventures