Ep. 430: The Mob Rules with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
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The Argent Mana of Bombay
After disruptions to Confederate cotton exports during the American Civil War, it resulted in sky high prices for Indian cotton and large inflows of silver into Bombay. This Argent Mana encouraged a speculative mania in banks, financial associations, and land reclamation companies which imploded when American cotton came back on tap. The success of these schemes touched off a mad hurly burly of speculation and commercial expansion.
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