Lionel sat on the sofa and asked with a smile, "I wonder if you have some basic understanding of the stock and bond markets?"
Arthur recalled that when he first arrived in London from the countryside of Yorkshire, his first stop had been none other than the financial center of the 19th century—the London Stock Exchange.
However, his luck was not too good, or perhaps it was too good, as he witnessed the second major collapse of the London stock market since its inception, with the previous collapse tracing back to the South Sea Company bubble of 1720.
In 1720, the South Sea Company, which monopolized Britain's trade with Spain's South American colonies, had driven up trading enthusiasm on the London Stock Exchange with various dazzling investment trade plans and a mix of true and false insider news.