So here's a weird thing about the early stock market: It was common for a long time to buy stock in a company by paying only a fraction of the share price, and to pay the rest in installments over time. When did we end this, and why?
-
-
Oh, another wacky thing: During the South Sea Bubble around 1720, when the South Sea Company sold shares above par value, they booked the excess as *revenue*. So they could report *profits* from doing nothing other than selling shares—and then pay those out as dividends!
Prikaži ovu nit -
Basically the whole thing was a Ponzi scheme (and Ponzi himself wouldn't come along for another 200 years). Fortunately today we have accounting standards that don't let you play this particular trick. Again, fascinating to see all the mistakes we had to make along the way
Prikaži ovu nit
Kraj razgovora
Novi razgovor -
-
-
Interestingly, there's also an old "Perpetual Bond" they paid forever, like paying rent for an apartment but for money itself. Would also be interesting to see how it coincides with the rise of limited liability entities, or just capital intensity. https://en.wikipedia.org/wiki/Perpetual_bond …
-
Yes, one popular fundraising mechanism among early modern governments was the sale of annuities—originating I think with the Charles V, of the Hapsburgs. Some were for the lifetime of the purchaser, but others were permanent
Kraj razgovora
Novi razgovor -
Čini se da učitavanje traje već neko vrijeme.
Twitter je možda preopterećen ili ima kratkotrajnih poteškoća u radu. Pokušajte ponovno ili potražite dodatne informacije u odjeljku Status Twittera.