P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 100 MINDS THAT MADE THE MARKET KENNETH L. FISHER John Wiley & Sons, Inc. P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 100 MINDS THAT MADE THE MARKET P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 The Fisher Investment Series TheOnlyThreeQuestionsThatCount 100MindsThatMadetheMarket TheWallStreetWaltz P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 100 MINDS THAT MADE THE MARKET KENNETH L. FISHER John Wiley & Sons, Inc. P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 Copyright(cid:2)C 1993,1995,2001,2007byKennethL.Fisher.Allrightsreserved. PublishedbyJohnWiley&Sons,Inc.,Hoboken,NewJersey. PublishedsimultaneouslyinCanada. WileyBicentennialLogo:RichardJ.Pacifico Nopartofthispublicationmaybereproduced,storedinaretrievalsystem,ortransmittedin anyformorbyanymeans,electronic,mechanical,photocopying,recording,scanning,or otherwise,exceptaspermittedunderSection107or108ofthe1976UnitedStatesCopyright Act,withouteitherthepriorwrittenpermissionofthePublisher,orauthorizationthrough paymentoftheappropriateper-copyfeetotheCopyrightClearanceCenter,Inc., 222RosewoodDrive,Danvers,MA01923,(978)-750-8400,fax(978)-646-8600,orontheweb atwww.copyright.com.RequeststothePublisherforpermissionshouldbeaddressedtothe PermissionsDepartment,JohnWiley&Sons,Inc.,111RiverStreet,Hoboken,NJ07030, (201)748-6011,fax(201)748-6008,oronlineathttp://www.wiley.com/go/permissions. LimitofLiability/DisclaimerofWarranty:Whilethepublisherandtheauthorhaveusedtheir besteffortsinpreparingthisbook,theymakenorepresentationsorwarrantieswithrespectto theaccuracyorcompletenessofthecontentsofthisbookandspecificallydisclaimanyimplied warrantiesofmerchantabilityorfitnessforaparticularpurpose.Nowarrantymaybecreatedor extendedbysalesrepresentativesorwrittensalesmaterials.Theadviceandstrategiescontained hereinmaynotbesuitableforyoursituation.Youshouldconsultwithaprofessionalwhere appropriate.Neitherthepublishernortheauthorshallbeliableforanylossofprofitorany othercommercialdamages,includingbutnotlimitedtospecial,incidental,consequential,or otherdamages. Forgeneralinformationonourotherproductsandservicesorfortechnicalsupport,please contactourCustomerCareDepartmentwithintheUnitedStatesat(800)762-2974,outsidethe UnitedStatesat(317)572-3993,orfax(317)572-4002. Wileyalsopublishesitsbooksinavarietyofelectronicformats.Somecontentthatappearsin printmaynotbeavailableinelectronicformats.FormoreinformationaboutWileyproducts, visitourWebsiteatwww.wiley.com. LibraryofCongressCataloging-in-PublicationData: ISBN-13:978-0-470-13951-6 PrintedintheUnitedStatesofAmerica 10 9 8 7 6 5 4 3 2 1 P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 Thisbookisdedicatedtoanyonepursuingserious,complexconceptsthatare inherentlynewanddifferentfromthosealreadyknown. P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 P1:OTE/PGN P2:OTE JWBK009-K.Fisher June24,2007 14:36 CONTENTS Preface xvii Acknowlegments xxi Foreword xxiii Introduction 1 CHAPTER ONE TheDinosaurs 7 MAYERAMSCHELROTHSCHILD OutoftheGhettoandintotheLimelight 10 NATHANROTHSCHILD WhenCashBecameKing—andCreditBecamePrimeMinister 13 STEPHENGIRARD TheFirstRichestManinAmericaFinancedPrivateers 17 JOHNJACOBASTOR AOne-ManConglomeration 20 CORNELIUSVANDERBILT AManAboveTheLaw 23 GEORGEPEABODY AFinderofFinancingandFinanciers 26 JUNIUSSPENCERMORGAN TheLastoftheModernManipulators 29 DANIELDREW Much“ToDrew”AboutNothing 32 JAYCOOKE StickToYourKnitting 36 (cid:2)vii (cid:2)
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