Interesting.
"I always carry a cane after the S&P 500 ($INX) has declined more than 4% in the past week," he replied. "That's how the old-time speculators made all their money. When panic came to Wall Street, they'd buy to the full extent of their bank balances. Casanova, for example, often profited from buying stocks during panics and was quite generous with the proceeds in his chivalrous adventures.
"Cane investing still works," he added. "Over the past six years, there were 64 weeks when the S&P fell more than 4%, and the average change during the next seven trading days was a 3% rise."
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