The Stock Exchange a Short Study of Investment And Speculation

Cover The Stock Exchange a Short Study of Investment And Speculation
The Stock Exchange a Short Study of Investment And Speculation
Hirst Francis Wrigley
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But there is very little in it. It is a mistake, of course, to keep all your money in one security or in one trade, or in securities connected with one trade. But it would be silly to interpret the proverb about eggs so literally that one should make CAUTIONS AND PRECAUTIONS 249 a special effort to scatter one's money in tinjr parcels over the face of the globe.
Another important caution is to beware of shares not fully paid up. Many bank and insurance shares are of this description. The majori
...ty are safe; but the possible risk is too serious for any one of moderate means to undertake. On the other hand, good shares of this kind, with a liability of perhaps from 75 to 50 per cent. , which might be called up in an emergency, yield a rather high rate of interest, and you can insure against a call at a very trifling expense. If you have insured yourself at Lloyds you can hold shares of this description and sleep on them comfortably.
Apart from circulars, the investor may easily be trapped by what he reads in news- papers, especially the concealed advertise- ments which often appear as articles in organs not known to be disreputable.


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