On October 16th, 2010, the front page of the Wall Street Journal (WSJ) carried a story entitled, “Flashback to 1870 as Cotton Hits Peak” (Cancryn and Cui, 2010). The newspaper included a graphic of the iconic Edgar Degas’ 1873 painting, “The Cotton Exchange at New Orleans” (See Exhibit 1). The article noted that cotton prices had not been this high since at least 1870.
Research Associate, EDHEC-Risk Instituteand Principal, Premia Risk Consultancy, Inc.
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|Research Cluster :||Finance|