Who it is for
Readers studying financial history, investment education, and the chapter’s specific subject—unexpected and unexpectable, price fixing—will get the most from this section. It is not suitable as a modern trading or investment checklist.
English reader · Project Gutenberg #60979
Chapter XV
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 XV, 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: Among the hazards of speculation the happening of the unexpected—I might even say of the unexpectable—ranks high. There are certain chances that the most prudent man is justified in taking—chances that he must take if he wishes to be more than a mercantile mollusk.
Modern reader note
Read this chapter as historical investment education. The market rules, disclosure practices, securities, commissions, interest-rate conditions, and investor protections around unexpected and unexpectable, price fixing may differ sharply from modern markets.
Loading chapter text...