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 IV - Why geographical distribution protects both capital and income

Collection:: Economics Books

67 unsatisfactory may, by careful selection and attention, be reduced to a minimum, but so long as the world continues it will be necessary to reckon upon a certain amount of disappoint ment in every effort made to precisely calculate the future. This being the case, it is clear that if an investor is to preserve his Capital intact, he must form a Reserve Fund to provide for the contingency of disappointment. On examining any of the Geographically Distributed Charts given in this book, it will be seen that many handsome profits which are at one time displayed by in dividual investments are swept away again later on by the inexorable tidal movement of Stock Exchange values. The constant recurrence of this phenomenon will naturally lead the investor to enquire whether it is absolutely essential to the scheme of Geographical Distribution that a handsome accrued profit should never be converted into cash, but should be thus left at the mercy of the backward movement, which the charts will have convinced him is certain to ensue. The answer to this enquiry is that the rises which occur should be utilised for forming a Reserve Fund ; and, with a Geographically Dis tributed Investment List, it is always possible to realise accrued profits without disturbing

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