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 I - On investment risks

Collection:: Economics Books

CHAPTER I. ON INVESTMENT RISKS. Investment is the act of laying out money with a view to keeping it safely, and at the same time securing an income from it. Two distinct objects being aimed at by the act of invest ment, there are naturally also two separate and distil] ct risks attached to it, namely, the risk attendant upon Capital and the risk attendant upon Income. All investments fluctuate in value, and there is hardly an investment in existence which may be relied upon with mathematical certainty to realise without any diminution the exact sum originally laid out in its purchase. There is, however, a large number of invest ments which may be absolutely relied upon as regular and uniform income-producers, so that the main difficulty of investment lies in keeping the original capital sum intact. Not only is the safety of capital attended by the greater risks, but, in addition, it con stitutes the cardinal question in the considera tion of the safety of an investment ; because, so long as capital remains intact, any diminu- B 2

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