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When your shoeshine person gives you trading tips..



Fixed that for you : when your Uber driver gives you trading tips...


Who still gets their shoes shined?


"JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good."

http://archive.fortune.com/magazines/fortune/fortune_archive...


In case you're not aware, it's in reference to a famous quote by Joe Kennedy, "You know it's time to sell when shoeshine boys give you stock tips. This bull market is over." As the story goes, less than a year before Black Tuesday, a shoeshine boy told him to "...buy Hindenburg."


FWIW I was aware of the the reference and it wasn't lost on me. I was simply reflecting on current state of the shoe shining profession.




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