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the  counterpoise  of  the  Investment  List  ;  for,
however  numerous  are  the  countries  over  which
an  investor  has  geographically  distributed  his
capital,  there  are  always  other  countries
available  whose  trade  interests  stand  contrasted ­
  with  those  of  the  countries  in  which
he  has  already  invested.  As  it  is  the
differences  in  trade  which  are  the  main  cause
for  the  rise  and  fall  in  the  value  of  the
individual  stocks,  the  system  of  poise  and
counterpoise  will  still  be  maintained  if  the
proceeds  of  the  stock  realised  be  invested  in  a
country  which  has  not  already  been  selected,  but
whose  stocks  stand  at  a  temporary  depreciation.
If,  therefore,  a  stock  which  shows  a  considerable ­
  profit  is  realised,  and  the  proceeds  invested ­
  in  a  stock  of  another  country  yielding
a  higher  rate  of  interest,  but  whose  price  is
below  its  normal  value,  the  advantageously
acquired  new  purchase  should,  in  its  turn,  at
no  distant  date,  display  a  similar  profit  to
that  already  secured.
When  a  geographically  distributed  Investment ­
  List  is  judiciously  managed  in  this
fashion,  it  becomes  practically  certain  that  the
realisation  of  one  profit  will  tend  to  the  future
accumulation  of  another  pivfit.
The  investor  will  now  begin  to  perceive
that  one  of  the  main  advantages  offered  by  a