Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-04-30

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- pripciplea. moss
unso isfnctosy
lDaahsA NY enat snswss ques-
oiqDa. snd - g. 60 learn mesh sbout
ssSsAing WtsAoss sskipS qSsssSous.
Whsshsv fsom psesDos o. fs0m fscta. or
both But one mssss study any subject
In the Light Of the most ssailabls aai
stsinsble DsanA
The stock msskst 10 . most fruitful
and fascinating Asid Of study. Il fas-
cinss-s more influential. welLso-tSo
and able bodied men to-day than any
other fact In American life Horse
racing. the1trioaiA fashion. the ans
srss, IN such . esmpetition are. dir
sanred to such an extent thas they are
out NJ siSAe In the vsas. And OF
eourse . great deal Of stsdy n BE-
slowed upon L. And the reasons why
che results OF 80 much study src not nj
ways eoumensur.ss with the labor
and time employed sre numerouA
some OF them are substantially - fol-
lc~&
People have preconeeived notiona.
They are not willing To clear their
minds Of existing theories and bring
themselves down tn close dealing with
fsets-
They ere apt to hass their eooclu-
sions on the opinions Of otAerA Now.
opinions - 10 the value of anything
are sure 10 differ. and opinions as tn
future values differ still more widely.
Just - thu spokes Of . wheel are wider
apart al the time while you travel
swsy iron the hub. When yoa reach
out into the future you are getting
away from tie hub Of the prosent
They arc frequently unwilling TO
acs On conclusions that coofkct with
their desires ssd intsrsstA. and that
Involve ehs socepesnss Of immediate
iosn~A They resemble the wounded
man who refunso 20 let the surgeon
cue on his leg wksu - 10 told that am
pussaSon VII ppobsbsy save his life and
,eAss there - . slender chance OF other.
wiss saSAsg L. and who takes the
.sSenAss sAsase-
Thsy 80 apt 20 seudy In . sspssAoisl
nsnnsr. W4eho11 thoroaghneas. using
Swaps - smAsessings Of hnowledgS
vAsn SVso - 0os1 exact ipiosmaaion
= Assd1y su0EisaA
0eAsr ssesuas soald - sAdased; bst
Ahsy mlgAA - ass<ilsA The king e.
,sosA . aanSciealiGy Of sOwn who
nsQ,se1sA - AsoA salats in his honor
- tAsis gsv1ne him the Arst ono of
1l1y ouoA s1nsous-shaA thcy had No
ppsuaA Ths Other fort y-nine were ssif-
1svsd - remain undivuAged- Enough
ssascns hsvs 6ssn Adduced hero TO ex-
plsin why "a many people fail Ia sue
Ssasfuily study the sock uasket
Bat ~Ails it Il vsry easy TO pick 10
Vieces ~ v.sious syStsrns that src~u
10 Win On the stock exchange. and IA
prisjcissIhs urd~s Of study OF preju-
oicsd and slovenly students, 10 IL also
most di6ruls tn lay down absolute ruies
Scr the ssecessful stndy of the share
market One double-besded and In
v,r,sbls rule there ~. bat IL requires
lsrge cspsssl and ps<ience 20 practice
st. IL n thin Buy only what you can
pay tor. buy when cheap and call when
dear The vsri-st financial infsnts
can ere the fosce of this rule.
And yea this prseept he's its weak
points rcv instance. how ID . pesson
Co be absolutely certain that . given
ssock " eheop os dear NJ given timer
BY comparison? But IL he eompares
The price with what II WAS ~ any peat
period. he must also be able 10 state
eli TIE sacts that existed at that pesiod
having amp bearing on this stock. and
since the>s fscss may run int the mill
lions - ~ number. and into all paSes
of the country - 70 place. oar learner
has n heavy contract on hand Then.
co.. he must bring ~ bear . clear
1uigDeat. snd . resolution sUnh ~
spidser< exercise when Trey chsrge
batteries. and then he must b pre-.
pared uest day % ind out that he was
wrong Afsev q careful ADD exhaustive
search into ell Tho material 90 han,i. he
buys shares 81. say. 80 per cent Of gar.
o. hesng cheap az the price. and really
worth more rlGu-y. and next day they
mar De offered ss 80 He then has
really ts~t 40 on each shsr-. add u
ne holds ne rr,rchaee. ard 10 ultimately
amounts ~ par. he hes ssiu Lost so Per
shar~L
And suppcse he sells on any given
eav at par. and . ~e~k sfter that che
shares s~ll st ITO. he then loses anueh~s
- - A. = A. n. -
success has ia stumbling blocks o. veil
"a others. although they are not 80
dsnrvrsyss In srch = Rad there sse no
deadly dangerous pisfaIis The rs~n
who travel IL are No. tempted to do
falcssions aud saiciies
Horne greeley once said that she WY
~ resume specie payments Vas - se-
sur,s: add II nigh. also BE- said 'hss slse
way ~ ssuziv the stock market u 10
study L. One distinguished and Sener
ally successful ssssrk operator ~ the
period - credited wi.h being In daily
rrceirs of s-ssps-vous pieces " snfewms-
ti,n from various psrss - 'hs s.unsry
- 90 the s,cu.iisspu ~ crops. vessh~r.
fr~9h.s Passenger .rsfssc. in shore. all
sses- that ~ ~ make M EN-. ss~s.s -
r>ifro~i ense~psi>es These psivsss
bits II trf,--,ss,oo >r- not cpen so tass
general public. they cs--s s~, much, End
call for 100 rfwch machinery: bus the
bureaus OF pubisc infevu,atirn ere s,sa-
.inuaIiv -rodinx 80, intetliSs0re. and
y - alc-tiy truss~or.af. Inns class es
fssss sr,-.<t ~ distinguished from r,zssor
Eu--,or o a. . rule. cssns<-sure BE
- Enthusiastically. II has se~n san-
rar-d az en- animated thing that hsssrins
Is~ .<~~-sr m h-.5r<r ANAL .o.s s.<s,rsxsN