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

in the International Chart, grouped together the price-movements of the stocks, each of which is subject to a different trade influence, and as a result it is seen that :— If an investor divides his capital equally among a number of stocks, every one of which is under a different trade influence, then each of these divisions of his capital will constitute a distinct investment risk, and a true system of averaging investment risks is thereby established. The charts depicting price movements, hitherto given in this book, have displayed in every instance the fluctuations of the indi vidual stocks only. In order to show that, when groups of stocks are taken, and when charts are prepared depicting the price move ments of these groups, the results obtained are similar to those from individual stocks, we here reproduce a chart which appeared in the Financial Review of Reviews for June, 1907. This chart was prepared from the aggregate-value figures of 387 representative securities published in the Bankers' Magazine month by month. The groups given by the Bankers' Magazine were divided into two sections. The upper section represents groups of purely British securities, and the lower section represents groups of stocks situated

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