107 
varied local enterprises to 
ment combination, great attention being paid? j 
trade interests and that all stocks held should 
be as far removed from general trade influences 
as possible. Further, care must be taken that 
the selected enterprise is being carried on as a 
sound business concern and not for the benefit 
of a few chosen individuals with whom the 
company does business. These points we have 
fully explained in a previous chapter. 
After all, when the sun shines the milliner 
is jubilant, whilst in rainy weather the 
umbrella-maker rejoices. In this way it is 
possible to arrive at something approaching a 
distribution of risk without going outside the 
United Kingdom, provided that the stocks 
selected are unimportant, and for this reason 
as far removed from the influence of British 
trade as they possibly can be. 
Conservative investors are naturally dis 
inclined to change their holdings, and rich 
people are especially dilatory in their financial 
affairs. But our twenty-seven years of experience 
have proved to us that every holder of a badly 
distributed Investment List is in the true sense 
of the word constantly on the verge of a 
precipice, and we have known the finest 
to the point that no two com pm 
shall be identical in their objects