Who it is for
Readers studying financial history, investment education, and the chapter’s specific subject—line of least resistance, plunger—will get the most from this section. It is not suitable as a modern trading or investment checklist.
English reader · Project Gutenberg #60979
Chapter II
Reminiscences of a Stock Operator. English-only reading by default; switch among English, Chinese, and Spanish, or compare languages side by side.
Chapter summary
This chapter examines Chapter II, 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: Between the discovery that the Cosmopolitan Stock Brokerage Company was ready to beat me by foul means if the killing handicap of a three-point margin and a point-and-a-half premium didn’t do it, and hints that they didn’t want my business anyhow, I soon made up my mind to go to New York, where I could trade in the office of some member of the New York Stock Exchange. I didn’t want any Boston branch, where the quotat
Modern reader note
Read this chapter as historical investment education. The market rules, disclosure practices, securities, commissions, interest-rate conditions, and investor protections around line of least resistance, plunger may differ sharply from modern markets.
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