Who it is for
Readers studying financial history, investment education, and the chapter’s specific subject—copper fever, treasury stock, par value—will get the most from this section. It is not suitable as a modern trading or investment checklist.
English reader · Project Gutenberg #73647
THE LURE OF THE COPPER BOOM—AND BOGUS SECURITIES
The Psychology of Speculation. English-only reading by default; switch among English, Chinese, and Spanish, or compare languages side by side.
Chapter summary
This chapter examines THE LURE OF THE COPPER BOOM—AND BOGUS SECURITIES, 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: Of course the speculator who buys stock in a new copper mine is simply taking a gambler’s chance that ore will be found in paying quantities. Most of those who have submitted to this enticement in the past thirty years do not need to be reminded of the hazards attending such risks.
Modern reader note
Read this chapter as historical investment education. The market rules, disclosure practices, securities, commissions, interest-rate conditions, and investor protections around copper fever, treasury stock, par value may differ sharply from modern markets.
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