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

E 2 49 Buenos Ayres Western Railway Ordinary; General International Investments, Direct Spanish Telegraph Preference Shares. The price-movements of all the stocks on the chart show that no two of them display similar fluctuations throughout the whole period. Here and there, but during different years, there is a curious temporary parallel of movement between some of the stocks ; but the very fact that these seemingly sympathetic tendencies affected different stocks at different times only tends to preserve the Capital stability of the whole list during the various years which we have illustrated. The representative British security in this chart is the London and North Western Railway Ordinary stock, and this stock, being influenced by British trade, is of course similar in price-movement to the stocks depicted on the chart of all-British stocks which we have already given in the preceding chapter. It is significant to see how entirely all the rest of the Geographically Distributed stocks differ in their price-movements from the British stock. It is this individuality of movement on the part of each security, included in a well- distributed Investment List, which ensures the first great essential of successful investment, namely, Capital Stability.

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