Q: Where does the name "Wall Street" come from?
Q: Rakesh Jhunjhunwala (Indian Investor), net worth around $1.1 Billion, started with a capital of ______
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2008
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February
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- Finance Trivia
- Type of Candlestick (DOJI STAR)
- How to use head and shoulders pattern (Read previo...
- Head and Shoulders pattern in the making??
- What is a candlestick? (What they dont teach You a...
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- Technical Analysis
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February
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About Me
- Varun Malhotra
- A young investor, digging into the science of Technical Analysis.
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The information posted on this blog should be used only for entertainment purpose. Investors should make their own investment decisions. I do not take any responsibility of the investments made on the basis of the information/discussions posted on this blog.
2 comments:
The name of the street derives from the fact that during the 17th century, Wall Street formed the northern boundary of the New Amsterdam settlement. In the 1640s basic picket and plank fences denoted plots and residences in the colony.Later, on behalf of the Dutch West India Company, Peter Stuyvesant, in part using African slaves,led the Dutch in the construction of a stronger stockade. A strengthened 12-foot (4 m) wall of timber and earth was created by 1653 fortified by palisades.The wall was created, and strengthened over time, as a defense against attack from various Indian tribes, New England colonists, and the British. In 1685 surveyors laid out Wall Street along the lines of the original stockade.The wall was dismantled by the British in 1699. And while the original name referred to the Walloons, the French speaking Belgians that helped populate this settlement in the beginning, the name was now easily taken to refer to the wall that once was here.
In the late 18th century, there was a buttonwood tree at the foot of Wall Street under which traders and speculators would gather to trade informally. In 1792, the traders formalized their association with the Buttonwood Agreement. This was the origin of the New York Stock Exchange.
In 1889, the original stock report, Customers' Afternoon Letter, became the The Wall Street Journal, named in reference to the actual street, it is now an influential international daily business newspaper published in New York City.For many years, it had the widest circulation of any newspaper in the United States, although it is currently second to USA Today.It is owned by Dow Jones & Company.
Mr. Jhunjhunwala began playing the market with 5,000 rupees (just over $100 at today's exchange rates), and never looked back. One of his first investments: Tata Tea Ltd., which quickly took off. (Years later, Tata Tea would acquire British tea giant Tetley.) He subsequently moved into mining, where he made his first million rupees in iron-ore exporter Sesa Goa.
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