ÄÖCii 
umm 
CHAPTER V. 
THE PRACTICAL CONSTRUCTION OF 
INVESTMENT SCHEMES. 
To most investors it will prove quite a novel 
idea that any necessity exists for an Invest 
ment Scheme, and that such a scheme requires 
construction. 
With the exception of the managers of 
Banks, Insurance and Finance companies, and 
perhaps a few isolated large private investors, 
the investing public have always looked upon 
investment as a haphazard business, in which 
luck was the main factor. Whenever money 
was to be invested the pros and cons of this 
and that security were considered mostly 
without any reference to the investments 
already held, and without weighing anything 
except the safety and yield of the proposed 
purchase. This is the one and only reason 
why so few investors are permanently suc 
cessful in their operations. 
In the preceding chapters we have 
explained the necessity of considering all 
investments held as one harmonious whole,