Stock Exchage Securities An Essay On the General Causes of Fluctuations in Thei
Stock Exchage Securities An Essay On the General Causes of Fluctuations in Thei
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The syndi- cate, therefore, which has forced a rise has to elect between taking a great deal of stock thus offered, trusting to its power of after-sale, or seeing the market slip away and its hope of profit disappear. On the other hand, if the operation is to force down a particular security, the whole force of the money-market is against the rigger, provided the security has solid value. Its interest-bearing capacity remains unchanged by 'what the rigger can do, and a fall beyond a certain poi...nt would induce many purchases by solid capitalists who know what they are doing, and are not to be imposed on by the rumours of the market. This and the fears of a corner are always likely to prevent speculators for the fall from carrying their operation to an extreme. Where riggers appear most successful is when they anticipate a rise or fall of prices due to real causes ; an operation for the fall in a particular security is likely to go far when the cycle has 'turned and almost all securities are discredited ; but such appearances of success are not to be confounded with the effects which are really due to the ' rig ' operations themselves and which are really very limited.
What to read after Stock Exchage Securities An Essay On the General Causes of Fluctuations in Thei?
You can find similar books in the "Read Also" column, or choose other free books by Robert Giffen to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The syndi- cate, therefore, which has forced a rise has to elect between taking a great deal of stock thus offered, trusting to its power of after-sale, or seeing the market slip away and its hope of profit disappear. On the other hand, if the operation is to force down a particular security, the whole force of the money-market is against the rigger, provided the security has solid value. Its interest-bearing capacity remains unchanged by 'what the rigger can do, and a fall beyond a certain poi...nt would induce many purchases by solid capitalists who know what they are doing, and are not to be imposed on by the rumours of the market. This and the fears of a corner are always likely to prevent speculators for the fall from carrying their operation to an extreme. Where riggers appear most successful is when they anticipate a rise or fall of prices due to real causes ; an operation for the fall in a particular security is likely to go far when the cycle has 'turned and almost all securities are discredited ; but such appearances of success are not to be confounded with the effects which are really due to the ' rig ' operations themselves and which are really very limited.
What to read after Stock Exchage Securities An Essay On the General Causes of Fluctuations in Thei?
You can find similar books in the "Read Also" column, or choose other free books by Robert Giffen to read onlineMoreLess
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