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The First Short Sell Was Made For Revenge | Planet Money | NPR
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September 10, 2019
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6:28Now PlayingIn the early 1600s there was one stock market with only one company’s stock in it, and it didn't take long before someone tried to manipulate the price.
Four hundred years ago, Isaac Le Maire helped found the Dutch East India Company. (You might remember them from history class: think big wooden boats, trips across rough seas, and lots and lots of spices).
Anyway, Le Maire got caught up in a dispute over some expense reports and so his co-directors essentially banished him from the spice trade.
Anyone else might've backed away, but Le Maire wanted revenge. And so, the short sell was born.
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