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New infospace lefevre-reminiscences-of-a-stock-operator
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# Entity Title: Bryan Panic of ’96
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## Definition
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The Bryan Panic of 1896 was a financial crisis characterized by significant volatility and manipulation in the markets, leading to widespread impact on traders, including those in bucket shops.
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## Category
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event
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# Entity Title: Bucket-Shop Drive
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## Definition
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A bucket-shop drive refers to a situation where the prices of stocks are manipulated downwards in a coordinated effort to force clients who are long on those stocks to incur losses or be wiped out.
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## Category
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strategy
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# Entity Title: Bucket Shop
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## Definition
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A bucket shop is a type of brokerage that allows speculative trading in stocks without actually buying shares. These shops often manipulate market prices to exploit their clients, leading to significant losses for traders.
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## Category
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market
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# Entity Title: Bull Tips
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## Definition
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Bull tips are recommendations or information suggesting that a stock's price will rise, encouraging traders to buy. These were used strategically to influence market movements in the discussed scenario.
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## Category
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evidence_bearing_claim
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# Entity Title: Cosmopolitan
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## Definition
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The Cosmopolitan is identified as a bucket shop that engaged in manipulative practices, specifically targeting short positions in Sugar by artificially inflating stock prices.
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## Category
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institution
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# Entity Title: Dollar Manipulation
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## Definition
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The practice of manipulating stock prices to extract profits from the market, often at the expense of average investors.
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## Category
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error
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## Context
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It underscores the dangers of participating in manipulative market practices without adequate knowledge.
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## Source Evidence
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"Their brokers in New York ran up the price to 108. Of course it fell right back, but Henry and a lot of others were wiped out."
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# Entity Title: Market Drive
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## Definition
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A tactic employed to artificially inflate or deflate stock prices in a way that leads to trader losses and profits for others.
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## Category
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strategy
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## Context
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Refers to the strategy used by operators to manipulate stock prices causing losses for long holders.
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## Source Evidence
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"whenever there was an unexplained sharp drop which was followed by instant recovery, the newspapers in those days used to call it a bucket-shop drive."
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# Entity Title: Market Factor
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## Definition
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A market factor is an operator or trader who significantly influences trading conditions or stock prices within the market. In the text, a certain trader is identified as a market factor due to his previous successes in market manipulation.
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## Category
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trader
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# Entity Title: New York Stock Exchange
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## Definition
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The New York Stock Exchange (NYSE) is a major stock exchange where trading of stocks occurs, serving as a venue for some of the trading activities mentioned in the context of market manipulation.
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## Category
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market
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# Entity Title: Short Position
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## Definition
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A short position refers to the practice of selling stocks that a trader does not own, with the intention of buying them back at a lower price to profit from the decline. It was a significant factor in the losses suffered by the traders in the context.
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## Category
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strategy
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# Entity Title: Sugar (Commodity)
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## Definition
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Sugar refers to a specific commodity that is traded on the market, in this case, associated with the incident involving Tom and Henry Williams, where their positions were affected by market manipulation.
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## Category
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instrument
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# Entity Title: Sugar
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## Definition
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A specific stock that traders engage with, which is central to the narratives involving trading strategies and market manipulation.
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## Category
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instrument
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## Context
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Sugar is referenced in the context of a market manipulation scheme executed by bucket shops.
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## Source Evidence
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"Henry Williams and I together were short six thousand shares of Sugar."
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# Entity Title: Western Union (Stock)
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## Definition
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Western Union is a stock that was frequently manipulated by traders due to its relative ease of movement within the market, making it a favored target for speculative trading schemes.
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## Category
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instrument
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# Entity Title: Western Union
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## Definition
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A specific stock favored for trading due to its liquidity and ease of price manipulation.
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## Category
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instrument
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## Context
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Referencing a stock used strategically to execute manipulative trades benefiting the instigator.
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## Source Evidence
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"One of his favorite stocks was Western Union, because it was so easy to move a semiactive stock like that a few points up or down."
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