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 VI - The treatment of existing investment lists

Collection:: Economics Books

105 for stocks of this kind, the investor may secure quite as good a chance of a future rise in value as lie may have in respect of his existing holdings. Such a procedure might hinder the immediate investment in stocks which are likely to carry out the investor’s real investment aim ; but it would tend to forthwith improve the Geographical Distribution of his capital, and this is, after all, a very great step in the right direction. To wait for a future rise in any security is speculation and not investment, and whether the anticipated rise is to take place in a security which is actually held or in one which has just been purchased does not alter the fact. To make investment and speculation go hand in hand is not an easy matter, and it is from this point of view that every delay in the sale of unsuitable stocks should be considered. In all cases where a stockbroker is consulted, his ipse dixit on investment questions should not be accepted as final, but he should rather be asked to furnish good reasons for the suggestions which he may make, and to explain at the outset his Investment Scheme as a comprehensive whole. This not only makes for the greater enlightenment of the client, but it also gives the latter an opportunity of testing his adviser’s ability to handle the delicate question of investment.

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