The Art of Speculation

Even among Wall Street legends Philip L. Carret is a giant the founder of one of the first mutual funds-the Pioneer Fund which debuted in 1928-and a fount of knowledge and experience whose investing wisdom is acclaimed to this day. This classic guide to the nuts and bolts of speculating in the market assembled from a series of articles for Barrons is still one of the best primers available for beginners... and an excellent brush-up lesson for old hands. In clear-eyed down-to-earth language Carret discusses: . what is speculation? . why the investor must speculate . how stocks resemble real estate . trading on margin . over-the-counter trading . how to find a reliable broker . the disadvantages of options . the secret of the sure-thing speculation . forecasting market swings . understanding a bull market . how to read a balance sheet . and much much more. American entrepreneur and financial writer PHILIP L. CARRET (1896-1998) is also the author of Buying a Bond.