The book The New York Stock Exchange And Public Opinion was written by author Kahn Otto Hermann Here you can read free online of The New York Stock Exchange And Public Opinion book, rate and share your impressions in comments. If you don't know what to write, just answer the question: Why is The New York Stock Exchange And Public Opinion a good or bad book?
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The Banker's training is to judge intrinsic values, his outlook must bebroad and comprehensive, his plans must take account of the longerfuture. The Speculator's business is to discern and take advantage ofimmediate situations, his outlook is for tomorrow, or anyhow for theearly future; he must indeed be able at times to disregard intrinsicvalues. [Sidenote: _Do "big men" put the market up or down?_] The temperamental and mental qualifications of the Banker andSpeculator are fundamentally confl...icting and it hardly ever happensthat these qualifications are successfully combined in one and the sameperson. The Banker as a stock market factor is vastly and strangelyover-estimated, even by the Stock Exchange fraternity itself. May I add, in parenthesis, that a sharp line of demarcation existsbetween the speculator and the gambler? The former has a useful andprobably a necessary function, the latter is a parasite and a nuisance. He is only tolerated because it seems impossible to abolish him withoutat the same time doing damage to elements the preservation of which isof greater importance than the obliteration of the gambler.
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