
Part of the Wall Street Journal Book series
In 1929, fortunes vanished in days, reshaping the stock market forever.
In October 1929, fortunes crumbled as the stock market plummeted, leaving dreams shattered. Follow Michael J. Meehan, a former cigar hustler turned stock influencer, as he navigates the chaos. Witness the power struggles between Wall Street and Washington, and hear the poignant tales of those who lost everything. This gripping account unveils the greed-fueled frenzy that led to the infamous crash, forever altering the landscape of investing. Discover the human stories behind the numbers in this vivid portrayal of a nation brought to its knees.
Over six terrifying, desperate days in October 1929, the fabulous fortune that Americans had built in stocks plunged with a fervor never seen before. At first, the drop seemed like a mistake, a mere glitch in the system. But as the decline gathered steam, so did the destruction. Over twenty-five billion dollars in individual wealth was lost, vanished gone. People watched their dreams fade before their very eyes. Investing in the stock market would never be the same. Here, Wall Street Journal bureau chief Karen Blumenthal chronicles the six-day period that brought the country to its knees, from fascinating tales of key stock-market players, like Michael J. Meehan, an immigrant who started his career hustling cigars outside theaters and helped convince thousands to gamble their hard-earned money as never before, to riveting accounts of the power struggles between Wall Street and Washington, to poignant stories from those who lost their savings – and more – to the allure of stocks and the power of greed. For young readers living in an era of stock-market fascination, this engrossing account explains stock-market fundamentals while bringing to life the darkest days of the mammoth crash of 1929.
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