100 Minds That Made the Market

KEN FISHER is the Founder, Executive Chairman, and Co-Chief Investment Officer of Fisher Investments, a $387-plus billion (as of 3/31/2026) investment adviser and money management firm serving large institutions and high-net-worth individuals. For over 32 years, Fisher wrote Forbes’ “Portfolio Strategy” column, making him the longest continuously running columnist in the magazine’s venerable history. He now writes monthly, native-language columns in over 25 major media organs worldwide, including the New York Post, Britain’s Daily Telegraph, Spain’s elEconomista and Italy’s Il Sole 24 Ore. In total, his columns span more countries and more languages in more total reach than any other, non-syndicated columnist of any type ever.

“…trawl through the biographies of those who have made the markets move for some of the right – and wrong – reasons.” (FT's Investment Adviser, Monday 18th February 2008)

• Preface xviiAcknowlegments xxiForeword xxiiiIntroduction 1CHAPTER ONE The Dinosaurs 7MAYER AMSCHEL ROTHSCHILDOut of the Ghetto and into the Limelight 10NATHAN ROTHSCHILDWhen Cash Became King—and Credit Became Prime Minister 13STEPHEN GIRARDThe First Richest Man in America Financed Privateers 17JOHN JACOB ASTORA One-Man Conglomeration 20CORNELIUS VANDERBILTA Man Above The Law 23GEORGE PEABODYA Finder of Financing and Financiers 26JUNIUS SPENCER MORGANThe Last of the Modern Manipulators 29DANIEL DREWMuch “To Drew” About Nothing 32JAY COOKEStick To Your Knitting 36CHAPTER TWO Journalists and Authors 39CHARLES DOWHis Last Name Says It All 41EDWARD JONESYou Can’t Separate Rodgers and Hammerstein 44THOMAS W. LAWSON“Stock Exchange Gambling is the Hell of it All . . . ” 47B.C. FORBESHe Made Financial Reporting Human 51EDWIN LEFEVREYou Couldn’t Separate His Facts from His Fiction 53CLARENCE W. BARRONA Heavyweight Journalist 56BENJAMIN GRAHAMThe Father of Security Analysis 59ARNOLD BERNHARDThe Elegance of Overview on a Single Page 63LOUIS ENGELOne Mind that Helped Make Millions More 67CHAPTER THREE Investment Bankers and Brokers 71AUGUST BELMONTHe Represented Europe’s Financial Stake in America 74EMANUEL LEHMAN AND HIS SON PHILIPRole Models For So ManyWall Street Firms 77JOHN PIERPONT MORGANHistory’s Most Powerful Financier 80JACOB H. SCHIFFThe Other Side of the Street 84GEORGE W. PERKINSHe Left the Comfy House of Morgan to Ride a Bull Moose 87JOHN PIERPONT “JACK” MORGAN, JR.No One Ever Had Bigger Shoes to Fill 90THOMAS LAMONTThe Beacon for a Whole Generation 94CLARENCE D. DILLONHe Challenged Tradition and Symbolized the ChangingWorld 98CHARLES E. MERRILLThe Thundering Herd Runs Amok in the Aisles of the Stock Market’s Supermarket 101GERALD M. LOEBThe Father of Froth—He Knew the Lingo, Not the Logic 104SIDNEY WEINBERGThe Role Model for Modern Investment Bankers 108CHAPTER FOUR The Innovators 113ELIAS JACKSON “LUCKY” BALDWINWhen You’re Lucky, You Can Go Your OwnWay 116CHARLES T. YERKESHe Turned Politics into Monopolistic Power 120THOMAS FORTUNE RYANAmerica’s First Holding Company 123RUSSELL SAGEA Sage for all Seasons 126ROGER W. BABSONInnovative Statistician and NewsletterWriter 129T. ROWE PRICEWidely Known as the Father of Growth Stocks 133FLOYD B. ODLUMThe Original Modern Corporate Raider 137PAUL CABOTThe Father of Modern Investment Management 141GEORGES DORIOTThe Father of Venture Capital 145ROYAL LITTLEThe Father of Conglomerates 149CHAPTER FIVE Bankers and Central Bankers 153JOHN LAWThe Father of Central BankingWasn’t Very Fatherly 157ALEXANDER HAMILTONThe Godfather of American Finance 161NICHOLAS BIDDLEA Civilized Man Could Not Beat a Buccaneer 164JAMES STILLMANPsychic Heads America’s Largest Bank 167FRANK A. VANDERLIPA Role Model for AnyWall StreetWanna-Be 171GEORGE F. BAKERLooking Before Leaping Pays off 174AMADEO P. GIANNINITaking the Pulse ofWall Street Out of New York 177PAUL M. WARBURGFounder and Critic of Modern American Central Banking 180BENJAMIN STRONGHad Strong Been Strong the Economy Might Have Been, Too 183GEORGE L. HARRISONNo, This Isn’t the Guy From the Beatles 187NATALIE SCHENK LAIMBEERWall Street’s First Notable Female Professional 190CHARLES E. MITCHELLThe Piston of the Engine that Drove the Roaring 20s 192ELISHA WALKERAmerica’s Greatest Bank Heist—Almost 195ALBERT H. WIGGINInto the Cookie Jar 198CHAPTER SIX New Deal Reformers 203E.H.H. SIMMONSOne of the Seeds of Too Much Government 206WINTHROP W. ALDRICHA Blue Blood Who Saw Red 209JOSEPH P. KENNEDYFounding Chairman of the SEC 212JAMES M. LANDISThe Cop Who Ended Up in Jail 216WILLIAM O. DOUGLASThe Supreme Court Judge onWall Street? 220CHAPTER SEVEN Crooks, Scandals, and Scalawags 225CHARLES PONZIThe Ponzi Scheme 228SAMUEL INSULLHe “Insullted”Wall Street and Paid the Price 231IVAR KREUGERHe PlayedWith Matches and Got Burned 235RICHARD WHITNEYWall Street’s Juiciest Scandal 239MICHAEL J. MEEHANThe First Guy Nailed by the SEC 243LOWELL M. BIRRELLThe Last of the Great Modern Manipulators 246WALTER F. TELLIERThe King of the Penny Stock Swindles 250JERRY AND GERALD REA Few Bad Apples Can Ruin the Whole Barrel 254CHAPTER EIGHT Technicians, Economists, and Other Costly Experts 257WILLIAM P. HAMILTONThe First Practitioner of Technical Analysis 260EVANGELINE ADAMSBy Watching the Heavens She Became a Star 263ROBERT RHEAHe Transformed Theory into Practice 266IRVING FISHERTheWorld’s Greatest Economist of the 1920s, or Why You Shouldn’t Listen to Economists—Particularly Great Ones 270WILLIAM D. GANNStarry-Eyed Traders “Gann” an Angle Via Offbeat Guru 274WESLEY CLAIR MITCHELLWall Street’s Father of Meaningful Data 278JOHN MAYNARD KEYNESThe Exception Proves the Rule I 281R.N. ELLIOTTHoly Grail or Quack? 285EDSON GOULDThe Exception Proves the Rule II 289JOHN MAGEEOff the Top of the Charts 292CHAPTER NINE Successful Speculators, Wheeler-Dealers, and Operators 295JAY GOULDBlood Drawn and Blood Spit—Gould or Ghoul-ed? 298“DIAMOND” JIM BRADYLady LuckWas on His Side—Sometimes 302WILLIAM H. VANDERBILTHe Proved His FatherWrong 305JOHN W. GATESWhat Can You Say About a Man Nicknamed “Bet-a-Million”? 308EDWARD HARRIMANWalk Softly and Carry a Big Stick 311JAMES J. HILLWhen Opportunity Knocks 314JAMES R. KEENENot Good Enough for Gould, But Too Keen for Anyone Else 317HENRY H. ROGERSWall Street’s Bluebeard: “Hoist the Jolly Roger!” 320FISHER BROTHERSMotortown Moguls 323JOHN J. RASKOBPioneer of Consumer Finance 327ARTHUR W. CUTTENBully the Price, Then Cut’n Run 330BERNARD E. “SELL ’EM BEN” SMITHThe Rich Chameleon 333BERNARD BARUCHHeWon and Lost, But Knew When to Quit 337CHAPTER TEN Unsuccessful Speculators, Wheeler-Dealers, and Operators 341JACOB LITTLEThe First to Do so Much 343JAMES FISKIf You Knew Josie Like He Knew Josie, You’d Be Dead Too! 346WILLIAM CRAPO DURANTHalf Visionary Builder, HalfWild Gambler 349F. AUGUSTUS HEINZEBurned by Burning the Candle at Both Ends 353CHARLES W. MORSESlick and Cold as Ice, Everything He Touched . . . Melted 357ORIS P. AND MANTIS J. VAN SWEARINGENHe Who Lives by Leverage, Dies by Leverage 360JESSE L. LIVERMOREThe Boy Plunger and Failed Man 364CHAPTER ELEVEN Miscellaneous, But Not Extraneous 369HETTY GREENThe Witch’s Brew, or . . . It’s Not Easy Being Green 371PATRICK BOLOGNAThe Easy Money—Isn’t 375ROBERT R. YOUNGAnd It’s Never Been the Same Since 378CYRUS S. EATONQuiet, Flexible, and Rich 381Conclusion 385Appendix 387Index 419