Depression-proof investing

Amity Shlaes is tweeting tidbits from Coolidge’s comings and goings as a countdown to the publication of her all-new biography of the 30th president. Yesterday, she shared that Coolidge bought shares in Standard Brands at the time of its creation by merger. The financial news media of the day touted this and other food company stocks as being depression-proof, much as stocks of food and other consumer staples firms have been thought of ever since. I’m not sure if Coolidge had a sizable or diversified stock portfolio; I expect he owned shares of New York Life, where he was a director,

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