"Stock prices have been quoted in fractions for two centuries, based on a system descended from Spanish pieces of eight. Each dollar was cut into eight bits worth 12.5 cents each"
- Charles A. Jaffe
About this Quote
This quote by Charles A. Jaffe is referring to the history of stock rates being priced quote in fractions. This system of estimating stock rates in fractions has actually been in place for two centuries and is based upon a system that stemmed from Spanish pieces of 8. Each dollar was divided into 8 bits, each worth 12.5 cents. This system of estimating stock prices in portions has remained in place for a very long time and is still used today. It is a hassle-free way to represent stock prices and permits easy comparison between various stocks. This system of quoting stock rates in fractions is a testimony to the longevity of the system and its effectiveness in the stock market.
This quote is written / told by Charles A. Jaffe between August 17, 1925 and September 2, 2015. He was a famous Businessman from USA, the quote is categorized under the topic Business. The author also have 3 other quotes.
"Only as long as a company can produce a desired, worthwhile, and needed product or service, and can command the public, will it receive the public dollar and succeed"
"I went to school at this log school house. A white woman was my teacher, I do not remember her name. My father had to pay her one dollar a month for me. Us kids that went to school did not have desks, we used slates and set on the hued down logs for seats"
"My price is five dollars for a miniature on ivory, and I have engaged three or four at that price. My price for profiles is one dollar, and everybody is willing to engage me at that price"
"The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure"
"I really wish there was some big brother conspiracy theory. I just think it's the ignorance of trying to make a dollar. That's what the networks have done and will continue to do. If anyone doesn't think that this is about making money, then they're crazy"
