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A carregar... Plain Truths About Stock Speculation: How to Avoid Losses in Wall Street, With a Visitors Directory in and Around New York (Classic Reprint)por Moses Smith
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Excerpt from Plain Truths About Stock Speculation: How to Avoid Losses in Wall Street, With a Visitors Directory in and Around New York His chapter is to explain the technical terms used in stock speculation. Bulls are optimists. They buy Stocks for an advance, and go long of the market. Bears are pessimists. They sell stocks for a decline, and go short of the market. Money is made or lost with equal facility, whether stocks go up or go down. It all depends on being on the right side of the market. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. Não foram encontradas descrições de bibliotecas. |
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For the most part, Smith’s volume styles itself as a shocking exposé of the sins of Wall Street. It brims with Biblical imagery of temptation and idolatry, presenting finance as the false worship of Mammon. Like many other writers, Smith compares the stock market to gambling. By the late 1880s, this kind of blanket condemnation of Wall Street was becoming less common, with writers increasingly striving to make a distinction between (legitimate) investment and (dubious) speculation. Smith combines a comparatively neutral introduction for the uninitiated to the terminology, forms of dealing and varieties of exchanges, with a potted history of some of the more notorious episodes of panics and swindles. Although most of the book is concerned with documenting the shady practices of Wall Street, it also includes information that could be construed as practical. In keeping with the subtitle of the book, most of the advice takes the form of negative warnings: never speculate on margins, never hang around brokerages, and never short the market.