Investment, an exact science

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Monograph

Identifikator:: 89315170X

URN:: urn:nbn:de:zbw-retromon-76526

Document type:: Monograph

Author:: Driault, Édouard http://d-nb.info/gnd/116222948

Title:: La question d'Orient depuis ses origines jusqu' à nos jours

Edition:: 6. éd. mise au courant des derniers événements

Place of publication:: Paris

Publisher:: Librairie Félix Alcan

Year of publication:: 1914

Scope:: 1 Online-Ressource (XV, 411 Seiten)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

40 For these reasons, no investment should be purchased without due consideration of the company’s balance-sheets and position. A close valuation of a company’s affairs is much less complicated than many imagine, and whenever any difficulty is experienced in this respect it can always be easily cleared up by consulting a competent financial adviser. We have now established the fact that external causes give the keynote to the price- movements of almost all solidly founded and well established investments, and that internal causes only modify this main controlling force in exceptional cases. Another glance at the charts of price- movements, which we publish earlier in this chapter, will indicate that the relative strengths of external and internal causes in the case of sound investments may be respectively expressed by the ratio of 4 to 1. This ratio only applies to investments where in trinsic safety is capable of clear demonstration at the time of purchase, as it is, of course, patent that new and untried ventures have first of all to find their right price level. During the period when a new concern is moving erratically in search of its proper orbit of fluctuation, it is obvious that internal influences, such as altering capital safety,

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