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A Plain Guide To Investment And Finance | by Lawrence R. Dicksee



The object of this book is simple and direct. All people need to invest their savings from time to time. They are not in the way of knowing, from professional experience in finance, what securities are best worthy of attention at certain periods; and what should be avoided, and why. Most probably they have not available the skilled advice of competent persons; and they themselves possess but a moderate and merely general knowledge of what forms a sound investment 1 in spite of fluctuations of values, and of partial or extensive panics, or in what manner its soundness or inferiority should be discriminated.

TitleA Plain Guide To Investment And Finance
AuthorLawrence R. Dicksee
PublisherRichard Clay & Sons, Limited
Year1908
Copyright1908, 1908, Richard Clay & Sons, Limited
AmazonA Plain Guide To Investment And Finance
-Introduction
Object Of The Book The object of this book is simple and direct. All people need to invest their savings from time to time. They are not in the way of knowing, ...
-Introduction. Part 2
Part I. Hints To Investors. Chapter I. Success In Investment Depends Upon Intelligence Of Investor How To Select These suggestions are lessons derived from a ...
-Introduction. Part 3
Who Is The Best Adviser ? A large and varied number of securities - amply sufficient for the ordinary investor - can be chosen without difficulty, and in ...
-Introduction. Part 4
The Stockbroker? 3. The training of the stockbroker is oven less adapted to render him a judicious counsellor. His business is to note the passing changes in ...
-Introduction. Part 5
Benjamin Franklin's Plan The well-known Benjamin Franklin adopted a wise plan (which he oddly described as Moral or Prudential Algebra) in the settlement of ...
-Chapter II. When To Select
When prices are too high place investment money on deposit. Sometimes the choice of time is not possible or is inconvenient: funds must be rendered productive ...
-When To Select. Part 2
The Golden Rule in Investment Buy before a rise in value; sell before a fall. This aphorism is worthy of a detailed attention, and may also be enunciated in ...
-When To Select. Part 3
This application of the rule is necessarily somewhat rough, for the several quantities (prices) included in the survey, and used for the formation of the ...
-Chapter III. What To Select
Most investors possess their individual preferences for different classes of securities. Some favour Government Stocks, with the resources of the nation as ...
-What To Select. Part 2
British Government Securities 1. British Government Securities: Consols. The return generally is too small, but the chief objection is that the principal is so ...
-What To Select. Part 3
A Corporation Stock has occasionally declined to a very low price on account of disclosed financial irregularities and corruptions in the methods and conduct ...
-What To Select. Part 4
Accepting Inscribed Stocks Where a purchased security belongs to the class of inscribed1 stocks, - in other words, where the perfecting of the title resides in ...
-What To Select. Part 5
American Railway Bonds 6. If American Railway Bonds are purchased they should be restricted to the leading lines, and be limited to First Mortgage Bonds ...
-What To Select. Part 6
Railway Preferred And Deferred Ordinary Stock Railways also issue (besides ordinary stock in the usual form) a part of the ordinary stock in the divided form ...
-What To Select. Part 7
Foreign And Colonial Railways (a) Foreign Railways. If these be purchased, and a reasonable choice can be made among them, the investment should be restricted ...
-What To Select. Part 8
Meanings Of Expressions Used Before proceeding, it is desirable to add a few words upon certain expressions which are necessarily employed throughout this book, ...
-What To Select. Part 9
Loose Mean -Ing Of Word Deben -Tures. Caution Necessary A word of caution is advisable upon the subject of debentures,1 for the word is loosely applied with a ...
-Chapter IV. Miscellaneous Remarks Upon Investments
A few miscellaneous observations may be offered, some of which have already been implicitly or explicitly expressed: repetition, though wearisome at times, ...
-Miscellaneous Remarks Upon Investments. Part 2
Warning Against Speculation 7. I have frequently warned the investor against speculation, and, as that term is a wide and ambiguous one, an explanation is ...
-Miscellaneous Remarks Upon Investments. Part 3
Take A Profit, Cut A Loss. 10. An adage has strayed beyond the bounds of the Stock Exchange, and is thus expressed: Take a profit, cut a loss: when the price ...
-Chapter V. What To Select (Resumed)
Mortgages When the prices of securities dealt in on the Stock Exchange are high - that is, when they return a lower rate of interest than the average - I have ...
-What To Select (Resumed). Continued
6. The scale of rates and taxes paid by the owner should be ascertained, in diminution of the return from rent. 7. It should naturally be seen that the tenants ...
-What To Select (Resumed). Part 2
Mortgages On Leasehold Properties If the security be leasehold certain additional rules apply, such as - (1) The relation of the ground-rent (paid to the ...
-What To Select (Resumed). Part 3
First Examine Situation Of Property 1. The observations already made upon the situation and surroundings of the property are most vital hero, since the ...
-What To Select (Resumed). Part 4
Leasehold Ground Rents The reference to the purchase of a leasehold ground-rent need be brief, since investors are counselled to avoid this class of security.
-What To Select (Resumed). Part 5
Part II. An Exposition Of Finance. Chapter VI. Trade, Commerce, And Industry Trade, Commerce, And Industry Unlike the origin of the vast multiplicity of ...
-What To Select (Resumed). Part 6
Meanings Of Industry, Trade And Commerce It is a definite loss to distinctness in commercial language that the terms Industry, Trade and Commerce have, through ...
-Chapter VII. Markets Generally, And The Money Market In Particular
Markets In the Middle Ages the right or concession to carry on trade at a particular time and place was called a market,1 as well as the locality itself where ...
-Markets Generally, And The Money Market In Particular. Part 2
Money Market The constitution and course of the organisation which is termed the Money Market now claims special attention, as practically the financial pivot ...
-Markets Generally, And The Money Market In Particular. Part 3
The Dealers In Money The dealers or traders in money, in the shape of loans on securities, and the discount1 (or immediate payment in money under deduction of ...
-Markets Generally, And The Money Market In Particular. Part 4
Bank Of England The Bank of England is merely an independent joint stock institution; but, in consequence of its acting as the banker for the Government ( ...
-Markets Generally, And The Money Market In Particular. Part 5
Banking Department Of Bank Of England The banking department is conducted on the same principles as those which govern the business of the joint stock and ...
-Markets Generally, And The Money Market In Particular. Part 6
The Reserve The term Reserve1 is not mentioned in the return, nor is its amount separately expressed, but the elements of which it is constituted are ...
-Markets Generally, And The Money Market In Particular. Part 7
Drains And Their Causes Some of the causes which extract the Bank's gold are periodic in their nature, and occur and recur with approximate regularity of ...
-Markets Generally, And The Money Market In Particular. Part 8
Illustrations Of Foreign Drains. A few illustrations of the mode may be useful. A foreign merchant may export (or sell) goods to England: his correspondent in ...
-Markets Generally, And The Money Market In Particular. Part 9
Imports And Exports When a merchant in London sells goods to a merchant in Paris, the goods form an exportl in respect of England, and an import1 in respect of ...
-Markets Generally, And The Money Market In Particular. Part 10
The Balance Of Foreign Trade And Its Effect On The Rate Of Exchange Now, if English merchants have imported or bought merchandise from abroad of a larger total ...
-Markets Generally, And The Money Market In Particular. Part 11
Methods Of Preserving The Reserve Dealing with the mode of preserving the Reserve a homely illustration may be cited. If we desire to keep people to a certain ...
-Markets Generally, And The Money Market In Particular. Part 12
Effect Of A Rise In The Bank-Rate On Foreign Exchanges It has been pointed out that when our merchants have imported more than they have exported (in ...
-Markets Generally, And The Money Market In Particular. Part 13
Suspending The Bank Act Of 1844 This state of impending disaster has occurred, and the remedy is the anomalous one of suspending (as it is termed) the Bank Act ...
-Chapter VIII. The Investment Market; Or, The Stock Exchange
What The Stock Exchange Is? The Stock Exchange is a collection of different markets, or bodies of men who buy and sell the various kinds of securities which ...
-The Investment Market; Or, The Stock Exchange. Part 2
The Turn. The difference between the two prices quoted by the jobber in any transaction is termed the turn (or the turn of the market ) and furnishes the ...
-The Investment Market; Or, The Stock Exchange. Part 3
An Option Illustrated A firm of contractors undertakes to build a railway in some foreign and partially developed State, and the principal contingency to be ...
-The Investment Market; Or, The Stock Exchange. Part 4
Transactions May Be Effected Either For Money Or For Account. Business (purchases and sales) may be effected either for Money or for the Account ; the price, ...
-The Investment Market; Or, The Stock Exchange. Part 5
Continuations Are New Bargains It should be carefully noted that continuations are thus in reality the creation of new bargains; the old ones being closed by ...
-The Investment Market; Or, The Stock Exchange. Part 6
Carrying Over, A Reasonable Course It may further be noted that the process of continuing or carrying over a bargain, in addition to its manifest practical ...
-The Investment Market; Or, The Stock Exchange. Part 7
Intrinsic Value Of A Security. I have frequently employed the phrase, the intrinsic value of a security, irrespective of its varying changes. The phrase is ...
-The Investment Market; Or, The Stock Exchange. Part 8
Not All Syndicates Evil Combinations It is simply just to add that the reader must not attach this opprobrious meaning to all syndicates: a syndicate may ...
-The Investment Market; Or, The Stock Exchange. Part 9
Par A Bond usually expresses the obligation of which it forms the evidence, as 100; and this amount, or the face or nominal value, as it sometimes is named, ...
-Chapter IX. The So-Called Sympathy Of Markets
When one kind of stock declines or advances in value, other stocks frequently show a similar tendency without any apparent cause; the investor becomes ...
-Chapter X. The Causes Of The Variations In The Prices Of Securities
No more efficient service can be rendered to the investor than that of aiding him to a familiar acquaintance with the conditions which produce the changes in ...
-Chapter XI. The Effect Of War Upon The Prices Of Securities
The Effect Of War On Investments Conditioned By Its Range The effect of war upon the values of investments will obviously depend upon its range - whether it be ...
-The Effect Of War Upon The Prices Of Securities. Part 2
War Involves Increased Taxation These national borrowings, besides diverting funds from the channels of trading and investment, involve an additional burden ...
-The Effect Of War Upon The Prices Of Securities. Part 3
Conscription A Further Derangement Of Commerce It may be remarked that where the system of conscription exists, a further serious derangement of commerce ( ...
-Chapter XII. Dear And Cheap Money, And The Effect Of Each On The Prices Of Securities
Dearness Or Cheapness Of Any Commodity Is Regulated By Demand And Supply The chief fact that determines the dearness or cheapness of any commodity is the ...
-Dear And Cheap Money, And The Effect Of Each On The Prices Of Securities. Part 2
Cheap And Dear Money Money is said to be cheap or dear when the amount available (the surplus savings not at the time invested in trading or in securities) for ...
-Dear And Cheap Money, And The Effect Of Each On The Prices Of Securities. Part 3
Cheap Money Induces An Extension Of Stock Exchange Speculation The reversed story is told when money is cheap or the rate of interest exacted from borrowers is ...
-Chapter XIII. The Condition Of Trade In Its Effect Upon The Prices Of Securities
An Increasing Trade Means An Increasing Number Of Exchange Transactions The effect of the vicissitudes of commerce and trade upon the prices of securities on ...
-The Condition Of Trade In Its Effect Upon The Prices Of Securities. Part 2
The Board Of Trade Returns The condition of trade may be deciphered in various ways. The Board of Trade Returns of the extent and values of exports and imports ...
-The Condition Of Trade In Its Effect Upon The Prices Of Securities. Part 3
Value Of British Investments, Freight, Etc, Not Included In Board Of Trade Returns Now the value of these debts, due to English merchants, shipowners, and ...
-The Condition Of Trade In Its Effect Upon The Prices Of Securities. Part 4
Other Indications Of The State Of Trade Another indicative feature is presented in the amount of the other deposits with the Bank of England, and the official ...
-Chapter XIV. Miscellaneous Causes Affecting The Prices Of Secur1ties
The importance of the conviction that the values of securities depend upon ascertainable causes - furnishing accordingly a helpful means to decisions and ...
-Chapter XV. The Fall In The Price Of Consols, And The American Crisis In 1907
The preceding chapters may be instructively illustrated by a brief record of the variations in the value of Consols, and an examination of the trading and ...
-The Fall In The Price Of Consols, And The American Crisis In 1907. Part 2
Movements Of The Price Of Consols In Recent Times Considered The recent course of Consols which has confused many minds, and has frequently been thoughtlessly ...
-The Fall In The Price Of Consols, And The American Crisis In 1907. Part 3
Destruction Of Property And Capital During Russo-Japanese War The destruction of property and capital during the Russo-Japanese war affected values by the ...
-The Fall In The Price Of Consols, And The American Crisis In 1907. Part 4
Discreditable Use Of Trust Funds For Alien Purposes The collapse was eminently aided by the disclosure of discredit associated with life assurance and other ...
-Chapter XVI. The Modes Of Estimating The Cost And Return Of Securities
It is here proposed to explain the mode in which the exact cost of a security can be determined apart from any fraction of interest which its price may include; ...
-The Modes Of Estimating The Cost And Return Of Securities. Part 2
A Further Illustration Of Accrued Interest Suppose, then, that a bond of 100 bearing interest at 3 per cent per annum, which is payable in half-yearly ...
-The Modes Of Estimating The Cost And Return Of Securities. Part 3
A Farther Method Of Computation A clearer plan would be to suppose that he sold to some person the right to the bonus of 5. At 3 per cent, the present value ...
-The Modes Of Estimating The Cost And Return Of Securities. Part 4
Meaning Of X Div. And X In The expression x d.1 and x in. (the reader remembering that a dividend is a roturn upon capital which may vary from time to time, ...
-The Modes Of Estimating The Cost And Return Of Securities. Part 5
The Rule Of The Stock Exchange Prevents Confusion Here, then, the rule of the Stock Exchange applies for the purpose of preventing confusion and contention ...
-The Modes Of Estimating The Cost And Return Of Securities. Part 6
3. The stock is sold on the 31st of December, 1907, but there is no time to register the buyer's title in the company's books prior to their closing: the ...
-The Modes Of Estimating The Cost And Return Of Securities. Part 7
After Quota-Tions Have Been Marked X D.. The Ensuing Dividends Begin To Accrue, And Stock Is Quoted Cum Div Immediately after the quotation is marked x d. the ...
-The Modes Of Estimating The Cost And Return Of Securities. Part 8
Sinking Fund Applied To A Leasehold Property 2. A leasehold property may be purchased for 1000, and the unexpired leasehold period may consist of sixty years.
-The Modes Of Estimating The Cost And Return Of Securities. Part 9
A Sinking Fund Must Not Be Diverted From Its Express Use 6. A final condition admonishes us that under no circumstances should a sinking fund, or any portion ...
-Chapter XVII. Speculation And Gambling
Obscure Language The Origin Of Misleading Judgments An almost infinitely vast number of erroneous and misleading judgments (involving consequently a moral ...
-Speculation And Gambling. Part 2
A Manufacturer Buying A Larger Stock Of Raw Material Than Usual Consider, further, the position of a manufacturer whose business is the conversion of raw ...
-Speculation And Gambling. Part 3
The Rules Of The Stock Exchange Contemplate Real Bargains It has already been pointed out that the rules of the Stock Exchange contemplate real bargains: each ...
-Chapter XVIII. Appendix. The Phase Of Commercial Crises In The Course Of Trade And The Succession Of Sun-Spots
A phase is the condition shown at any epoch by a body or occurrence (usually termed a phenomenon), which passes through a series of regularly varying ...
-The Phase Of Commercial Crises In The Course Of Trade And The Succession Of Sun-Spots. Part 2
1. The earth is traversed by magnetic currents - directly dependent upon the heat derived from the sun - which produce the pointing of the compass-needle to ...
-The Phase Of Commercial Crises In The Course Of Trade; The Succession Of Sun-Spots. Part 3
9. In close connection with this point, I may refer to the relation between the weather generally which prevails from time to time upon the earth, and the ...
-The Phase Of Commercial Crises In The Course Of Trade & Succession Of Sun-Spots. Part 4
The mode in which the depressions and disturbances of trade are produced (equally with its excited and exaggerated forms) may be reasonably suggested. The ...









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previous page: The First Principles Of Investment | by J. Beattie Crozier
  
page up: Investment Books
  
next page: How To Get Ahead - Saving Money And Making It Work | By Albert W. Atwood