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

14 of purchase. In that case only two out of the three cardinal points, contained in the rule we have just set out, were followed. The capital was evenly divided over three first-class stocks ; the prices of these stocks were identical in width of fluctuation ; hut they were all subject to the same market and trade in fluence ; in other words, they were all subject to the general investment conditions obtaining on the London Stock Exchange as well as to the general trade conditions ruling in Great Britain ; for all Trustee stocks are alike in this respect, that they are almost solely held in this country. This one defect was sufficient to nullify the rest of the precautions which the investor had taken. In this case the loss was due to the disregard of the same essential to sound investment as is neglected in all investments which consist exclusively of British stocks. And this same defect is responsible for all the losses which are made in investments of this type. Now, having detailed the dangers which assail capital, we will next consider the risks attendant upon the safety and regularity of income. Income is paid out of revenue. In the case of Government and Corporation stocks, revenue is derived from rates and taxes raised

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