Investment Volume 9

Investment Volume 9

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914-01-01 edition. Excerpt: ...down to two points now--and you're still carrying all that Steel. But I'll tell you what we'll do: We'll sell you short a couple of hundred Union if you like." The customer hesitated. What he had proposed doing was to buy Steel, but what he really wanted was "action," and that he knew he could get just as well by selling Union Pacific short as by buying Steel long. "It's all a gamble, anyway," he told himself. "What do I care which side I'm on?" They sold the Union short for him and at once the stock went up. He covered at the top eighth. Then the market began to drop, and by two o'clock he had an additional loss of two points on his Steel. "Whipsawed!" he muttered when the order-clerk told him his account had been wiped off the books. Late that afternoon, while old man Stox sat comfortably in his private office, the cashier brought him the usual summary of the day's business. Eight thousand shares--well, there had been better days, but that wasn't so bad--an even thousand dollars in commissions, anyway. "And how about that Bagley account?" the old man asked. "Closed out to-day," said the cashier. Then, looking at a memorandum in his hand: "Started with $5,000. Ran nearly six months--Reading and Union mostly. Total shares traded in, 16,000." The old man rubbed his hands. "Good for him," he said. "Never thought he'd last that long. Sixteen thousand! Well, that, at an eighth, means $2,000 clear for us. Pity we haven't got more of them like that around here. Would, if it weren't for these devilish get-rich-quick concerns that get all the investors' money!" Investment and Common Sense Being the Introductory Chapter of The Editor's New Book, ...
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Product details

  • Paperback | 152 pages
  • 189 x 246 x 8mm | 286g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236554809
  • 9781236554802