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

83 profitable investment may be said to rest on the following law :—The realisable values of all securities whose market lies chiefly in any one country are under the dominant influence of the trading conditions of that country. We commenced this explanation by quoting the price-movements of the London, Brighton & South Coast Railway 4| per Cent. Perpetual Debentures, which fell from 180 in 1896 to 134 in 1904, although no alteration had taken place either in the capital safety or in the dividend productiveness of this security. The explanation of this apparently inexplicable price-movement is now simple, and this stock’s serious depreciation was solely due to the external influences obtaining on the London Stock Exchange. These external influences dragged down the price of every English security, beginning with Consols and going down to the shares of industrial trading companies. The annual totals of the average annual prices given at the foot of the chart of British securities give a very complete picture of how all investors who had invested their capital solely in British stocks have fared between 1893 and 1906. These figures teach the valu able lesson that :—Every investor who 'places his money exclusively in the investments of D 2

Access restriction

Copyright

fullscreen: Investment, an exact science

Monograph

Chapter

Table of contents

Download

Monograph

Chapter

This page

Image fragment

Citation links

Citation recommendation