Excerpt from How Money Is Made in Security Investments: Or a Fortune at Fifty-Five
A number of text books have been written to explain the character of the securities, which are sold through the banking and brokerage houses of the United States. They treat of stocks, bonds, notes and mortgages and describe the peculiarities of each. Other books have been published to define the meaning of the technical terms in vogue in the financial world. They all serve a useful purpose.
It seems to the writer, however, that there is imperative need of another work, which shall go beyond elementary facts, and, in the matter of advice, shall do more than dwell upon the simple truism that an investor, before all other things, should pay attention to the safety of his capital and the regularity of his income. An investor needs to know how he can actually accomplish those objects, and farther, not only how he can avoid the loss of part or all of his money, but also how to make money in securities. This book is devoted to the broad principle, that, unless there is a fair assurance that money can be made on stocks and bonds, it is almost certain that money will be lost on them or so locked up as not to be available for other uses for a period of years. If securities are going no higher, if the times do not promise greater profits and larger dividends, then all classes of securities are going lower, at a date not far distant.
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