Anarchists and bear markets

Selling short: Anarchists and Bear Markets - at Moneyweek.co.uk - the best of the week's international financial media.

The date was September 6, 1901. US President William McKinley was standing in line at the Buffalo Pan-American Exposition - the equivalent of today's Disney World and a state fair all mixed into one.

It was a gorgeous sight. There were over 500 sculptures by well-known artists like Roth and Vanderbilt. Scattered over the grounds were 200 outdoor flower beds filled with 20,00 fresh roses, 3,000 dahlias, and 50,000 tulips. Everywhere you looked, there were beautiful fountains adorned with golden trim and intricate figurines. The immaculate parks and walkways were peppered with people buying fresh popcorn, fudge and lemonade.

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