Two ultra long distance challenges took place at this time. The Peking-Paris of 1907 was not officially a competition, but a "raid", the French term for an expedition or collective endeavour whose promoters, the newspaper "Le Matin", rather optimistically expected participants to help each other; it was 'won' by Prince Scipione Borghese, Luigi Barzini, and Ettore Guizzardi in an Itala.[24] The New York–Paris of the following year, which went via Japan and Siberia, was won by George Schuster and others in a Thomas Flyer.[25] Each event attracted only a handful of adventurous souls, but in both cases the successful drivers exhibited characteristics modern rally drivers would recognise: meticulous preparation, mechanical skill, resourcefulness, perseverance and a certain single-minded ruthlessness. The New York–Seattle race of 1909, if shorter, was no easier. Rather gentler (and more akin to modern rallying) was the Glidden Tour, run by the American Automobile Association between 1902 and 1913, which had timed legs between control points and a marking system to determine the winners.[26]
Rising investor confidence also indicates a rally, and it is perhaps more powerful than any economic indicator because when investors believe something is going to happen (a rally, for example), they tend to take action (purchasing shares in order to profit from expected price increases) that actually turn expectations into reality. Although it is an objective concept, investor sentiment shows through in mathematical measurements such as the put/call ratio, the advance/decline line, IPO activity, and the amount of outstanding margin debt.
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