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More and more investors were engaging in speculation, the buying of stocks and bonds on the chance that they might make a quick or a large profit, ignoring the risks. Their unrestrained buying and selling fueled the market’s upward spiral. As prices rose, wealth was generated on paper, but it bore little relation to the real worth of companies or the goods that they produced...
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More and more investors were engaging in speculation, the buying of stocks and bonds on the chance that they might make a quick or a large profit, ignoring the risks. Their unrestrained buying and selling fueled the market’s upward spiral. As prices rose, wealth was generated on paper, but it bore little relation to the real worth of companies or the goods that they produced...
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