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Did We Contribute to the #HackCrash? Light-speed Information and the Psychology of the Herd

Wed, 01 May 2013 12:25:57 GMT

“Rothschild coaches careered down highways; Rothschild boats set sail across the Channel; Rothschild messengers were swift shadows along the streets. They carried cash, securities, letters and news. Above all, news---latest, exclusive news to be vigorously processed at stock market and commodity bourse.” ~ Frederic Morton (1962), “The Rothschilds: Portrait of a Dynasty” There are many stories and legends surrounding the Rothschild family, and probably most are untrue.  It is widely acknowledged that Nathan Rothschild was the first Londoner to receive the news that Wellington had defeated Napoleon at the Battle of Waterloo in 1815.  Rothschild received this information through his network of fast carrier pigeons, which one of his agents released from Waterloo when the battle was likely to be won.  News of the outcome of the Battle of Waterloo was breathlessly awaited in the British financial markets.  According to legend, when Nathan Rothschild entered...

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