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TeachMeFinance.com - explain Tack historic definition...
Tack -- As a speculative term tack means the direction in
which a speculator's interest lies. Tack is used as a synonym
for side. If, for instance, a speculator is said to be on or to
have taken the long tack or bull tack on a stock or on the
market it is meant that he is long of (in London bull of) a
stock or of the market. On the other hand, if a speculator is
said to be on or to have taken the short or bear tack on a
stock or on the market it is meant that he is short of (in London
bear of) a stock or of the market.
The term tack is used not only in speculation in stocks, but
in speculation in grain, cotton, coffee, etc.
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