Investment, an exact science

Bibliographic data

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

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter II - What influences the realisable value of stocks

Collection:: Economics Books

22 The dominating force which controls the realisable value of all stocks and shares principally held in any one country is the spending and saving power of the people of that country. The extent of this spending and saving power, again, depends upon the state of trade of the country. The reason for this is that whenever trade is good the earnings of the money-saving classes exceed their immediate wants ; they therefore hoard their surplus earnings. Pre cisely as these surplus earnings increase with good trade, so do they dwindle during periods of trade depression. Thus the saving power of any nation entirely depends upon the pro ductiveness of its trade. While trade con tinues to be active, a large portion of these surplus earnings finds its way back into trade, the effect of which is to further augment the gross earnings and thus again add to the savings ; and so on the whole time of the trade boom. As soon as trade begins to slacken, and requires less capital to keep it going, these accumulated savings are set free and an investment outlet has to be found for • them. In addition to the savings of traders there are the savings of a large number of pro fessional people. The amount of money which

Access restriction

Copyright

fullscreen: Investment, an exact science

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation