The Art of Speculation by Philip L. Carret is a classic investment book that provides readers with a comprehensive guide to investing in the stock market. The book was first published in 1930 and has since been updated to reflect changes in the investment landscape. Carret was a successful investor and founder of the Pioneer Fund, which was one of the first mutual funds in the United States. In The Art of Speculation, he shares his investment philosophy and strategies for identifying undervalued stocks and making profitable investments. The book is divided into three parts. The first part focuses on the fundamental principles of investing, such as the importance of research, analysis, and discipline. The second part delves into the technical aspects of investing, including chart reading, market timing, and risk management. The final part provides readers with practical advice on how to apply these principles and strategies in the real world. Overall, The Art of Speculation is a valuable resource for anyone looking to improve their investment skills and achieve success in the stock market. Carret's insights and strategies are still relevant today, making this book a timeless classic in the world of investing.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.
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"Speculation is no simple business..Indeed, speculation requires broader knowledge, closer attention, sounder judgment than the average business." Published in 1930, on the heels of America's greatest depression, Philip L. Carret's classic is a perceptive and complete examination of speculation and its vital role in our economy. Carret, a Wall Street legend and founder of one of the first mutual funds, was one of the greatest minds tackling the intricacies of business, finance, and speculation. With clarity and precision, he presents the history of the profession, the relationship between speculation and business, and the fundamentals-bonds, securities, derivatives, and stocks, as well as the more complex areas of analysis, margins, and arbitrage. Not one detail is overlooked. In the final chapter, Carret distills the essence of his wisdom into 10 Commandments for Speculators. There is brilliance in their simplicity-in fact, it is clear why Warren Buffett once called Carret one of the greatest investors of all time. Even now it is hard to imagine success without a commitment to these rules.
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