General Discussion on AAU, page-68

Why are there sellers ? Many many many reasons and none to do with the value of the stock. 1. the execution of a 'will' takes place regardless of what stock. No2 pressing need. No.3 fed up with waiting especially if they bought in when PGI (now AAU) was under 2c (back in 1919 - 400% gain). No 4 they see what they perceive to be better value elsewhere, particularly if they need income now. No 6 etc etc etc. So although AAU looks better every week and volumes increasing on the rising price, usually there is a seller for every buyer or a buyer for every seller. Only once in history was that not the case "Of all the mysteries of the S. Exch. there is none so impenetrable as why there should be a buyer for everyone who seeks to sell, 24th October 1929, showed that what was mysterious is not inevitable. Often there were no buyers, and only after wide vertical declines could anyone be induced to bid' JK Galbraith, 'The Great Crash of 1929 p 121