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 VII - The world's stock markets

Collection:: Economics Books

115 although this periodical gives (in 320 pages) the last four years’ prices, dividends and yields at present prices of upwards of 5,000 individual securities, yet this number of stocks is only a tithe of all the investments of the world. Every paper has to confine itself to a few stocks only, and these again are selected according to the individual ideas of the editor, who is usually not influenced by the relative inj^oortance of various stocks, but by the amount of public attention any given security happens to command for the time being. Thus, frequently, prices of unim portant speculative securities are recorded by all papers to the exclusion of the quotations of really safe, solid, important investments. Frequent newspaper references to any one stock are tantamount to a large number of trade advertisements of a com mercial article. Publicity does, doubtless, create a demand for much-advertised articles, but in the same way as it does not follow that any particular soap is the best because its name is on every hoarding, so the Allsopp Brewery issues have not proved the best investment of their kind because during a number of years they have been constantly quoted and commented upon in every British financial paper and in every City article.

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