Who it is for
Readers studying financial history, investment education, and the chapter’s specific subject—get out even, stay out, shorn lamb—will get the most from this section. It is not suitable as a modern trading or investment checklist.
English reader · Project Gutenberg #73647
THEY ALL RESOLVE, BUT THEY ALL GO BACK
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 THEY ALL RESOLVE, BUT THEY ALL GO BACK, 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: One often hears the stock trader’s sad lament,—“If I ever get even, I’ll get out and stay out!” But I never knew one of this class who ever got “out even” and I never heard of one who stayed out if he did get out even. If they get out, leaving a dollar in, they go back after it; if they get out a few dollars ahead, they go back for more; in any case they all go back.
Modern reader note
Read this chapter as historical investment education. The market rules, disclosure practices, securities, commissions, interest-rate conditions, and investor protections around get out even, stay out, shorn lamb may differ sharply from modern markets.
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