Maid house boom
A maid bull market (also: maid bull market , maid maiden [ os ] , French for rise, increase ) is the term used by securities dealers to denote rising stock exchange prices , which are mainly driven by purchases by little-informed small investors and can indicate the final phase of a speculative bubble . The phenomenon is also known as maid speculation , housekeeping bull or housewives rally. Since the interest publicly circles further the reporting in the tabloids rises means tabloid indicator that the end of a bull market is approaching when the Bild newspaper on the front page reports on the gains.
meaning
A maid boom is seen by stock exchange traders as a late phase of an upswing and as a signal to sell such securities at high prices before an expected price decline is imminent. Maid houses can rely on stocks , fund shares , commodity certificates and other marketable securities, as well as physical goods exposed to speculation . In severe cases, the capital investment is financed by loans. The advice should come from the investor André Kostolany to “leave the last ten percent of the stock market potential to the stupid”.
Economically , maid houses are a problem of asymmetrical information .
history
The phenomenon that the term describes is said to go back to the Great Depression of 1929. When even domestic staff began to buy stocks during the boom , experienced investors got out because they were concerned that newcomers to the stock market could trigger panic selling even on small occasions. The economist Hans Lurch wrote as early as 1927, in the upswing before the crisis: “It was reported that in 1925 almost every street sweeper and maid speculated with grain, just like almost every German believed at the time of our inflation, no longer without speculation to be able to exist. "
The semantic connection between housemaid and petty speculator in the 1870s is documented. After the founders' crash of 1873, the Berlin journalist Wilhelm Wackernagel declared that the stock exchange tax, directed against speculation, would “hit the small capitalist, including house servants and maids, more than the rich money man.” Historian Barbara Orland believes that it is “entirely conceivable” maids who had picked up information in the house of their rule had already participated as "late speculators" in the railway boom of the 1840s.
See also
Individual evidence
- ^ Walter Kessler: Speculation and price formation on the stock exchange. Calendaria 1946, p. 26. - Markus C. Zschaber: Ahead of the stock exchange. Munich 2008, p. 138, ISBN 978-3-89879-401-5 , digitized
- ↑ Milkmaid House and "Bild-Zeitung-Indicator"; in: Handelsblatt , online
- ↑ quoted from Uwe Lang: The most dangerous stock market traps - and how to avoid them. 2nd edition, Frankfurt am Main 2007, p. 10
- ↑ Speculate yourself rich. Housewives, schoolchildren and students are discovering the stock market. In: Der Spiegel, 11/2000, March 13, 2000, p. 112ff.
- ^ Hans Lurch: Germany as a grain subsidy area. Phil.diss., Heidelberg 1927, p. 30
- ↑ quoted from Otto Glagau: The stock exchange and start-up swindle in Berlin. Leipzig 1876, p. 338
- ↑ Barbara Orland: Maid House. In: Barbara Duden (Ed.): History in stories. A historical reader. Camus, Frankfurt am Main 2003, pp. 241–250, here pp. 242 ff., Without verbal references, ISBN 978-3-593-37252-5 ( digitized version ( memento of the original from January 30, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this note .; PDF; 164 kB)
