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Edited by Shri at 22-12-2023 01:05 PM
Calculated the force of gravity but couldn't calculate the fate of being a 'leek'
Speaking of gravity, I guess everyone already knows who this person being 'harvested as leek' is. He is the founding father of modern classical mechanics, who proposed the famous law of universal gravitation and Newton's three laws of motion. He once served as the director of the Royal Mint in England—Newton! However, this extraordinary figure surprisingly suffered a significant setback in his first venture into the stock market.
In 1720, the stock of the South Sea Company in the UK began to soar, and Newton invested £7,000, doubling his investment in just two months. At that time, this amount equaled 3 to 5 times his annual salary as the director of the mint. Shortly after making a substantial profit, Newton regretted his decision because the stock of the South Sea Company continued to rise. There was even a scene where he felt embarrassed to greet others for not buying South Sea stocks. In July, when the stock price of the South Sea Company rose eightfold to £1,000, Newton couldn't resist increasing his investment. Unfortunately, his purchase coincided with the peak, coupled with the fact that the stock price of the South Sea Company was inflated by speculation. By December, the stock price had fallen by one-eighth, returning to the starting point, and Newton suffered a loss of £20,000, equivalent to ten years of his director's salary.
Afterward, Newton uttered a legendary saying: 'I can calculate the trajectory of celestial bodies, but it is difficult to anticipate the madness of people.' Indeed, stocks seem to exist for the madness of people. Without people trading stocks, where does the price increase come from? In his later years, Newton no longer immersed himself in scientific research but instead delved into the elusive field of alchemy. There are even rumors circulating that Newton became an alchemist because of his failure in stock trading. |
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Post time 24-11-2023 12:58:05