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

8 number of stocks, but care must also be taken to select for the purpose stocks which are susceptible to as widely divergent influences as possible. So far we are afraid that we must appear to be rather gloomy counsellors with a tendency to harp upon disaster. But if an investor will only first safeguard himself against serious loss, the rest of his investment career presents no very great difficulties. There is, for instance, a bright side to the distribution of capital, because an investor would require to be exceptionally unfortunate if among the variety of securities which he held he did not possess some stocks which improved in capital value or in income-producing power, or in both. In fact, the whole system of splitting up capital, in the manner in which we advocate in this book, is based upon the selection of stocks in such a way that the resultant influence affecting them as a whole must tend to be a beneficial one. In other words, not only will the losses be counterbalanced by profits, but the profits will so outweigh the losses that the investor will steadily increase the realisable value of his Capital as time goes on ; and with the increase of Capital Account we have already shown that an improved Income follows as a matter of course.

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