How to Invest Money. English-only reading by default; switch among English, Chinese, and Spanish, or compare languages side by side.
This chapter examines IV. Real-Estate Mortgages, using the author’s early-twentieth-century investment framework to explain how investors were expected to judge security quality, income, risk, and market conditions. It opens from the chapter’s own discussion: In the preceding chapter the discussion of railroad bonds was brought to a close. Before passing to the consideration of real-estate mortgages, which is the next form of investment to be taken up, it may be well to review briefly the general principles advanced in the first chapter of this book, in order that the reader may have clearly in mind the main points upon which judgment of the value of investments should be
Readers studying financial history, investment education, and the chapter’s specific subject—real-estate mortgage, loan-to-value, bond and mortgage—will get the most from this section. It is not suitable as a modern trading or investment checklist.
Read this chapter as historical investment education. The market rules, disclosure practices, securities, commissions, interest-rate conditions, and investor protections around real-estate mortgage, loan-to-value, bond and mortgage may differ sharply from modern markets.