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What was a common belief of American citizens about the stock market?
That everyone was a winner/ there were no losers
Why was the stock market particularly unstable in the 1920s?
Too many people were buying shares ‘on the margins’ (on credit)
What percentage deposit was needed for a share?
How long did the investor have to pay back the balance?
10-20%
3 months
Why were Americans overconfident?
Rapid industrial growth and victory in WW1
What percentage of Americans owned shares?
1%
How was the spread of share ownership different in the 1920s to previously?
The shares were democratized, meaning people with a lower income could also purchase shares.