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Finding the next great stock, before the crowd rushes in
In the late 1970s, people would stand for hours outside New York’s Studio 54 hoping to get in.
The club’s co-founder, Steve Rubell, became famous for turning people away. On one Saturday night, he boasted of rejecting 1,400 would-be guests.
Ironically, the long lines to get in were part of the club’s appeal. Every person waiting in line became evidence that whatever was happening inside must be worth experiencing. The crowd became the advertisement.
