Alexander Hamilton’s Revolutionary Idea
Believe it or not, there was a time in the history of this country when Congress debated whether or not both the buyer and the seller should be rewarded, the buyer of a rising asset for being smart enough to own it now and the seller for having owned it even if they were not smart enough to keep it. Ultimately, under a system proposed by Alexander Hamilton, the first Secretary of the Treasury, only the current owner of an asset is rewarded if it goes up. This has become the basis for how the US economy works today. In this newsletter I will explain how this came to be.
Please click here to view the Spring 2013 newsletter.
This material was created while Al Boris was at a previous broker/dealer and has been rebranded to reflect his current firm, Alex. Brown, a Division of Raymond James. It is provided for historical purposes only. Investors should not act on the historical comments which do not reflect current market conditions.
