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Tuesday, April 24, 2012

“Buy when there’s blood in the streets” (Baron Rothschild in 1871)

“Buy when there’s blood in the streets” (Baron Rothschild in 1871)
"Buy low, sell high” is the mantra of making money on Wall Street, but when is it low enough to buy? According to one Wall Street proverb, the time to buy is when there is “blood in the streets.” The proverb has been attributed to financier Bernard Baruch and to industrialist John D. Rockefeller, Sr., but it’s most frequently attributed to Baron Rothschild. 

During the Panic of 1871 in Paris, when everyone was selling, Baron Rothschild (according to the story) was buying. The Rothschild account is described in print in 1894, 1907, 1917 and 1931. 

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