《股票作手回忆录·第九章·1907大恐慌·做空封神》第5节
The next day the wires were working and we got the quotations as usual. Anaconda opened at 298 and went up to 302¾, but pretty soon it began to fade away. Also, the rest of the market was not acting just right for a further rally. I made up my mind that if Anaconda went back to 301 I must consider the whole thing a fake movement. On a legitimate advance the price should have gone to 310 without stopping. If instead it reacted it meant that precedents had failed me and I was wrong; and the only thing to do when a man is wrong is to be right by ceasing to be wrong. I had bought eight thousand full shares in expectation of a thirty or forty point rise. It would not be my first mistake; nor my last. Sure enough, Anaconda fell back to 301. The moment it touched that figure I sneaked over to the telegraph operator--they had a direct wire to the New York office--and I said to him, “Sell all my Anaconda, eight thousand shares.” I said it in a low voice. I didn’t want anybody else to know what I was doing. He looked up at me almost in horror. But I nodded and said, “All I’ve got!”
注释摘要
我们先把场景切换到1907年的棕榈滩。要理解这一段，有几个名词需要还原。那年头，股票报价是通过一种叫“行情纸带”的电报系统传递的，细长的纸条不停地从机器里吐出来，上面打着密密麻麻的股票代码和最新成交价。分秒之间的延迟是家常便饭，有时候一场暴风雨就能把电报线刮断，整个报价就成了瞎子。利文斯顿在这里提到的“安纳康达是四分之一股”，这是一个现在已经消失的制度——…