of which all the component parts must pro 
perly balance each other, and that both in 
quantity and quality all the various stocks 
held must be on a near approach to equality. 
We have further endeavoured to show, unless a 
contemplated new purchase proves on investi 
gation to blend satisfactorily with the stocks 
already held, it is dangerous to combine it 
with them in the same Investment Scheme. 
Here we will describe the fundamental 
principles which should guide investors in 
the construction of Investment Schemes. In 
pursuance of this idea, we will first assume 
that the investor starts without any stocks 
in hand. Then, when we have exhaustively 
treated of the construction of an Investment 
Scheme, we will in the succeeding chapter 
deal separately with the treatment of 
stocks in hand, and show how an existing 
Investment List should be placed on a sound 
foundation. 
First of all the investor should make up 
his mind what results he desires to obtain. 
Almost any reasonable result is procurable, 
provided that the means most likely to 
produce the desired end are employed. To 
illustrate clearly what we mean we will outline 
and discuss a few of the typical and most 
frequently recurring objects of investment.