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 II - What influences the realisable value of stocks

Collection:: Economics Books

28 The reader can easily translate into figures the price-movements depicted on the chart, by means of the horizontal price lines. These annual average value figures have been added up, and their totals displayed at the foot of the chart. By this means the chart not only pictorially illustrates the various price- movements, but it also gives the several total annual values of all the stocks depicted, year by year, at their respective average prices. The typical British stock, of course, is London & North Western Railway Ordinary. This starts at the price of 164—almost in the middle of the chart — gradually rises to 204 in the years 1896-1897, and then equally gradually declines, until it records 150|- as its lowest quotation in the year 1904. It will be noticed that the tendency of nearly all the stocks included in the chart is to slavishly follow the same direction as that marked out by North Western Railway Ordinary, both in their upward and their downward movements. Here and there in the chart an occasional short deviation occurs in a few of the zigzag price lines. These deviations are due to an exceptional individual increase or decrease in capital safety or dividend productiveness on the part of that particular stock. But it is curious to notice

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