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

118 142^-143), whilst he might have had to pay 90 for Cordoba Second Preference (quoted 88-90), what would his position have been in March, 1907 ? Why, he would then have found that the Buenos Ayres & Pacific Stock had in the meantime not only dropped in value, but had also lost its free market, and he would have to accept 119 for, or in other words he would have lost £24 on, every £100 of stock which he held. Whilst Cordoba Central Second Preference, which had also receded in the meantime, and still remained a wide-priced stock, were yet saleable at 86 (quotation 86-88) representing a loss of £4 only on every £100 of stock held. It is true that in the purchase of the Buenos Ayres & Pacific Stock only 10s. more than the lowest price quoted at the time was paid, while the market turn in the Cordoba case amounted to £2, yet not all this disadvan tage in dealing was repeated at the time of sale. Thus nominally about £2 was saved on the Buenos Ayres & Pacific transaction. But into what utter insignificance these forty shillings sink when it is considered that the cheaply completed transaction produced an ultimate loss of £24 against a loss of £4 only on the same quantity of the less negotiable security.

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