"Where the Common People Could Speculate": The Ticker, Bucket Shops, and the Origins of Popular Participation in Financial Markets, 1880-1920

Hochfelder, David

doi:10.2307/4486233

Cited by 59 publications

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“…Prior to the invention of the stock ticker, messenger boys would run from the stock exchange to the neighbouring brokerages in the Wall Street district. With data supplied from the floor of the stock exchange in New York, Boston and the commodity exchanges in Chicago and elsewhere, beginning in the late 1860s tickers were installed in stock brokers offices and even in some private individuals' offices (see Hochfelder 2006;Preda 2009, pp. 113Á143).…”

Section: The Stock Tickermentioning

confidence: 99%

“…For customers unable to access or afford regular brokers, bucket shops offered up the thrill of speculation even if punters were not READING THE TICKER TAPE IN THE LATE NINETEENTH-CENTURY AMERICAN MARKET 59 technically purchasing real stock (they were merely betting against the house). See Cowing (1965) and Hochfelder (2006).…”

mentioning

confidence: 98%

“…From the 1870s to c. 1915, the stock and commodity exchanges engaged in a legal struggle to prevent bucket shops accessing via the ticker what they argued was proprietorial financial information (see Hochfelder 2006).…”

mentioning

confidence: 98%

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Reading the Ticker Tape in the Late Nineteenth-Century American Market

Knight¹

2013

Journal of Cultural Economy

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Section: The Stock Tickermentioning

confidence: 99%

mentioning

confidence: 98%

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Reading the Ticker Tape in the Late Nineteenth-Century American Market

Knight¹

2013

Journal of Cultural Economy

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“…Ao traçar a evolução dos fatores determinantes do comportamento do mercado de ações, Kremp enfatiza que, historicamente, ciclos que envolviam as bolhas e seus subsequentes colapsos foram os responsáveis por alterar a percepção dos agentes que participam do mercado de ações. Em 1867, com o avanço da tecnologia da comunicação, principalmente com o surgimento do ticker, uma espécie de teleimpressor de cotações da bolsa, o mercado financeiro criou uma dinâmica ainda mais sedutora, pois o referido instrumento possibilitou que a informação e o capital caminhassem "de mãos dadas" entre os mercados mundiais, atraindo novos investidores e dando ares de racionalidade ao mercado (Kremp, 2008;Preda, 2002;Hochfelder, 2006). O teleimpressor tornou visível o fluxo dos preços nas tiras de papel, da mesma forma que a tela do computador dá visibilidade ao ritmo das negociações nos dias de hoje, e altera toda a dinâmica do mercado, modificando as práticas de investimento e o papel dos profissionais (Zaloom, 2006).…”

Section: A Constituição Da Figura Do Investidor E a Educação Financeiraunclassified

A ressignificação da figura do especulador-investidor e as práticas de educação financeira

Leite

2017

Civitas

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Resumo: Este artigo apresenta uma leitura de autores da socioeconomia que explicam como práticas econômicas condenadas em certas épocas foram ressignificadas e ganharam legitimidade social. Partindo da figura do especulador ganancioso, chegase à atual imagem do investidor "racional", que proclama as benesses do mundo das finanças e fortalece os programas e projetos de educação financeira. Deste modo, buscamos fornecer subsídios para elucidar o campo de formação de investidores e da educação financeira, que se constitui como um trunfo social compartilhado pelos diversos agentes e grupos produtores do mundo das finanças no Brasil. Palavras-chave: Finanças. Investidor. Educação financeira.Abstract: This article reviews socioeconomic literature that explains how economic practices condemned at certain times were ressignified and gained social legitimacy. It traces a history from the figure of the greedy speculator to the current image of the "rational" investor, who strengthens current financial education projects. Finally, the paper also provides subsidies to elucidate the rise of popular investors and the expansion of financial education programs in Brazil, which is constituted as a social arrangement shared by agents and producers of the country's financial world.

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“…140 The exchanges fought a legal battle between the 1880s and 1903 to try to prevent bucket shops from using their futures price quotations to facilitate wagers. 141 Today, by contrast, commodity derivative markets are regarded as sophisticated information-gathering mechanisms that leads to 'price discovery'.…”

Section: The Altered Role Of Financial Marketsmentioning

confidence: 99%

Regulating Excessive Speculation: Commodity Derivatives and the Global Food Crisis

Chadwick¹

2017

ICLQ

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Evidence suggests that commodity derivatives speculation contributed to extraordinary patterns of grain price volatility that led to a global food crisis in 2007–11. People in countries throughout the world are increasingly dependent on international commodity markets for access to food. Almost everywhere, now, the value of food is determined by a single condensed symbol of its worth—its price. Persuaded of the need to ensure that this measure of value is not put at risk of distortion in the pursuit of financial profit, governments in the US and in the EU are now implementing new regulations designed to curb ‘excessive’ levels of speculation in derivative markets. Carrying out an analysis of these regulatory measures, the article demonstrates that both sets of reforms suffer from a critical limitation: They are predicated on an inaccurate understanding of how activity in commodity derivative markets can impact on underlying food prices. If the new regulations for commodity derivative markets are not up to the task, as this article argues that they are not, a more fundamental revision of global economic structures may be required if the basic needs of human beings are not to be subsumed to the interests of financial capital in the years to come.

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"Where the Common People Could Speculate": The Ticker, Bucket Shops, and the Origins of Popular Participation in Financial Markets, 1880-1920

Cited by 59 publications

References 0 publications

Reading the Ticker Tape in the Late Nineteenth-Century American Market

Reading the Ticker Tape in the Late Nineteenth-Century American Market

A ressignificação da figura do especulador-investidor e as práticas de educação financeira

Regulating Excessive Speculation: Commodity Derivatives and the Global Food Crisis

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