For Groucho Marx, the stock market was nothing to laugh at. The mustached wag invested his fortune, a quarter-million dollars, on a tip from a bellhop at the Ritz-Carlton during the height of the Roaring Twenties. On Black Tuesday, he lost it all.
By 1929, Wall Street tycoons had popularized the idea of selling stocks and high-yield bonds directly to small investors while manipulating the market; their stupendous successes had made them folk heroes of the day. But then the market crumbled overnight and speculators started jumping... More >>>