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At 30 Patriarch Joseph P. Kennedy became a stockbroker and acquired a fortune for dealing in insider trading and stock manipulation. He was said a master of the stock pool, a practice [legal] by a few traders who conspired to pump a stock's price, dumping just before the bubble burst.

Kennedy's real strength wasn't his alleged criminal ties but his business smarts, notably an exquisite sense of timing. In the mid-1920s he became a movie mogul (taking time out for a celebrated dalliance with Gloria Swanson), then organized a merger and sold out just when the industry was consolidating, clearing five to six million dollars. He pulled out of stocks early in 1929 and sold short following the crash, actually making money while others got creamed. Just before Prohibition was repealed he lined up several lucrative liquor-importing deals.

By the 1930s Kennedy was rich, but it was said he didn't make the big money by today's standards until he got heavy into real estate during World War II, scooping up $100 million [mol]. In 1945 he made this deal that is the centerpiece of the Kennedy fortune: $12.5 million that had cost $30 million to build.. annual gross in rent exceeded the purchase price not long after. Source says.

Perhaps time to dump when in an economic slump. Thought the Kennedys historically dump prior a severe downturn.

1 posted on 09/04/2010 9:21:40 PM PDT by fight_truth_decay
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To: fight_truth_decay

Today’s hedge funds pull the same sh*t the Kennedy and other stock pools pulled.

Who the F would want an office in the s***hole known as a Chicago and in that old dump? Unreal.


2 posted on 09/04/2010 9:35:22 PM PDT by Frantzie (Imam Ob*m* & Democrats support the VICTORY MOSQUE & TV supports Imam)
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To: fight_truth_decay

One smart decision (buying that real estate) and he secured his entire family for a few generations.


3 posted on 09/04/2010 9:54:58 PM PDT by mainsail that ("A man will fight harder for his interests than for his rights" - Napoleon Bonaparte)
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