Actually, it was Kennedy overhearing shoeshine boys discuss stocks that led him to believe the market was in a bubble, and prompted him to get out. Shoeshine boys are like cab drivers; they don't know what they're doing; they're late to the party, they get in at the top and later sell at a loss. It would be the same as when unsophisticated resellers indiscriminately buy recently-released Lego sets and send them to Amazon FBA, just like they do now.brickupdate said:There's this story of Joseph Kennedy getting out of the stock market market just prior to the 1929 crash, when he received stock tips from a shoe- shine boy.
That mentality has already dried up, at least among resellers who are full-time and trying to make half-a living at it. The demand for the product drying up is the least of the reseller's worries.brickupdate said:
At some point the "easy money in the aftermarket" mentality is going to dry up. Because people in my age group are going to run out of shelf space and money