Baron Rothschild? Anselm Rothschild? Nathan Mayer Rothschild? Lionel de Rothschild? Bernard Baruch? John D. Rockefeller? Apocryphal?

Question for Quote Investigator: Societal chaos and violence is frightening to investors. Uncertainty depresses the prices of securities. Yet, a popular adage highlights the presence of opportunity:
Buy when blood is running in the streets.
This guideline makes sense if property rights are maintained and the market recovers. This statement has been credited to a member of the Rothschild family of bankers. A more elaborate version states:
You must buy when blood is running on the streets — even when it’s your own.
Would you please explore this topic?
Reply from Quote Investigator: The earliest match found by QI appeared in “The Globe” newspaper of Toronto, Canada on December 29, 1893. The following passage referred to “rentes” which were bonds issued by the government of France. Boldface added to excerpts by QI:1
A French investor at a critical time was advised by one of the Rothschilds to buy rentes.
“What!” he cried. “Buy Government securities while the streets of the capital are running with blood?”
“My friend,” was the reply, “if the streets were not running with blood you couldn’t buy rentes at present prices.”
The passage did not precisely identify the member of the Rothschild family who offered the advice. Also, the historical event that precipitated the violence was not specified.
This early anecdote did not directly present a compact proverb. The statement above which was similar to the modern proverb, was formulated as a question not an adage. Nevertheless, over time this anecdote evolved to yield the proverb.
Below are additional selected citations in chronological order.
Continue reading “Origin of Investor Proverb: Buy When There Is Blood in the Streets”







