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 III - The geographical distribution of capital

Collection:: Economics Books

i 16 His conclusions have appeared in the April, 1907, number of the Financial Review of Reviews ; they have since then been published in the Popular Financial Booklet XXI., which Booklet has been reprinted and appended to this book. It follows that if an investor widely distri butes his capital over the earth’s surface, local depression in one quarter will be counter balanced by the local trade activity in another quarter. Further, it also follows, if an investor’s capital is sufficiently large to enable him to purchase investments representative of every trading centre in the world, that the world’s perpetual trade expansion will auto matically tend to increase the realisable capital value of his investments year by year. Moreover, as the tendency of the younger countries is to increase their proportion of the world’s trade, so their credit necessarily tends to appreciate also ; with the result that the representative stocks of those countries must show a special tendency to rise in value. By way of giving an illustration, proving the practical value of the above conclusions, we have prepared a chart covering the same period, and in construction identical with the charts given in the last chapter, but depicting

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