tailieunhanh - Encyclopedia of american business history part 2

Babson, Roger Ward (1875–1967) statistician and stock market analyst Babson was born into a well-established New England family. His father was a successful dry-goods merchant who did not believe in the principles of higher education. He was undisciplined as a youth and was a member of a street gang for a brief period before obtaining his high school diploma. | B Babson Roger Ward 1875-1967 statistician and stock market analyst Babson was born into a well-established New England family His father was a successful dry-goods merchant who did not believe in the principles of higher education. He was undisciplined as a youth and was a member of a street gang for a brief period before obtaining his high school diploma. He then attended MIT because it provided a technical education which was more acceptable. After graduating in 1898 he went to work for a Boston stockbroker. He was soon fired for his overly analytical methods and independent spirit. After working for himself briefly in New York City he returned to Massachusetts to work for another Boston broker. He then established Babson s Statistics Organization with 1 200 in 1904. The company was later known as Babson s Reports. The original company was one of the first to accumulate and analyze business statistics and sell the service to subscribers. It was so successful that he was able to diversify his interests after several years in business. Following the Panic of 1907 on Wall Street Babson already wealthy because of his service s success expanded it to include stock market reporting and advice. The service included busi ness and stock market predictions and made Babson very well known in investment circles. He was one of the few market analysts to accurately predict the stock market crash of 1929 although many on Wall Street did not agree. In the 1920s statistical analysis was not universally accepted. Many Wall Street bankers did not accept that business conditions were anything less than ideal before the crash and continued to believe in a rosy future even after 1929. In addition to his analytical services Babson was also interested in public service. He served in Woodrow Wilson s administration as an assistant secretary of labor and advocated joining the League of Nations. Later in life he ran for president on the National Prohibition Party ticket in 1940. But he .

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