Investment, an exact science

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Monograph

Identifikator:: 865521182

URN:: urn:nbn:de:zbw-retromon-48767

Document type:: Monograph

Author:: Lowenfeld, Henry

Title:: Investment, an exact science

Place of publication:: London

Publisher:: The Financial Review of Reviews

Year of publication:: 1906

Scope:: 1 Online-Ressource (X, 160 Seiten)

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter V - The practical construction of investment schemes

Collection:: Economics Books

88 decide whether he chieliy aims at permanent stability of capital value or at the enhancement of the realisable value of his capital. In the previous chapter we have explained how Geographical Distribution will assist in the enhancement of the value of capital in vested, and if this is the object chiefly desired, then stocks of great width of fluctuation should be chosen. If, however, Capital Stability is all that the investor aims at, then stocks with the minimum width of fluctuation, in fact, stocks which but rarely change hands and do not possess a free market, are preferable. Any yield up to 6 per cent, is usually obtainable, and, as will be seen from the two specimen charts here interleaved, it is possible, with the aid of Geographical Distribu tion, to select stocks which scarcely fluctuate in their combined realisable value. The lower the yield of income obtainable from an investment scheme, the smaller will be its variations in total realisable value. Thus, the 4 per cent, scheme illustrated in the chart starts with a capital value of £10,185, and during ten years its extreme variation was a fall of £323 in the year 1904, whilst the 7 per cent, chart starts with a capital value of £10,660, and displayed its extreme

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