Pawnbroking isn’t a bad idea in these straitened times – and this company is doing it right

Jesse Livermore is best known as a fearless stock market trader in the US in the early part of the 20th century (and for making an absolute packet by going short into the Wall Street Crash of October 1929), but his career also shows the value of patience. One Livermore maxim is that “there are times to go long, times to be short and times to go fishing” and sometimes the power of doing nothing is underestimated.