This just in: What you never said can still hurt you…

…or your reputation, at any rate. Amity Shlaes and George Nash have done some research into whether or not Calvin Coolidge really made the upbeat remarks about the soundness of the 1928 stock market that Herbert Hoover attributes to him in his memoirs, and which John Kenneth Galbraith requoted to lay the blame for the 1929 crash at the feet of Coolidge.Turns out he very likely didn’t make that statement – which goes some way towards absolving him, although at the same time it proves wrong Coolidge’s own aphorism that he “never had been hurt by anything he didn’t say.”

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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