Description
Book SynopsisThis book was among the first ten on investing I ever read. . . . It remains important for anyone seriously interested in capital markets, financial journalism, or even their own personal investments.
From the Foreword by Ken Fisher, CEO of Fisher Investments and Forbes columnist
Loeb tells us to put all our eggs in one basket, and watch the basket.
John Rothchild, Financial Columnist, Time magazine
This book is very special in my life. It is the very first Wall Street book I ever read. After reading 1,200 additional finance books, The Battle for Investment Survival''s principles and concepts are still valid for consistent success.
Victor Sperandeo, Author of Trader Vic on Commodities
In The Battle for Investment Survival, the turf is Wall Street, the goal is to preserve your capital at all costs, and to win is to make a killing without being killed. This memorable classic, originally written
Table of Contents
Foreword ix
Introduction xix
1. IT REQUIRES KNOWLEDGE, EXPERIENCE, AND FLAIR 1
2. SPECULATIVE ATTITUDE ESSENTIAL 5
3. IS THERE AN IDEAL INVESTMENT? 8
4. PITFALLS FOR THE INEXPERIENCED 11
5. HOW TO INVEST FOR CAPITAL APPRECIATION 15
6. SPECULATION VERSUS INVESTMENT 20
7. SOUND ACCOUNTING FOR INVESTORS 23
8. WHY COMMITMENTS SHOULD NOT BE HAPHAZARD 26
9. SOME “DON’TS” IN SECURITY PROGRAMS 29
10. WHAT TO LOOK FOR IN CORPORATE REPORTS 32
11. CONCERNING FINANCIAL INFORMATION, GOOD AND BAD 37
12. WHAT TO BUY—AND WHEN 40
13. IMPORTANCE OF CORRECT TIMING 43
14. STATISTICAL ANALYSIS, MARKET TRENDS, AND PUBLIC PSYCHOLOGY 46
15. PRICE MOVEMENT AND OTHER MARKET ACTION FACTORS 50
16. FURTHER TECHNICAL OBSERVATIONS 55
17. MORE ON TECHNICAL POSITION OF MARKET—ITS INTERPRETATION AND SIGNIFICANCE 62
18. ADVANTAGES OF SWITCHING STOCKS 67
19. “FAST MOVERS” OR “SLOW MOVERS”? 70
20. DETECTING “GOOD” BUYING OR “GOOD” SELLING 73
21. QUALITIES OF THE GOOD INVESTOR OR INVESTMENT ADVISER 76
22. GAINING PROFITS BY TAKING LOSSES 78
23. YOU CAN’T FORECAST, BUT YOU CAN MAKE MONEY 82
24. STRATEGY FOR PROFITS 85
25. THE EVER-LIQUID ACCOUNT 91
26. A REALISTIC APPRAISAL OF BONDS 95
27. MERITS OF MINING SHARES 100
28. DIVERSIFICATION OF INVESTMENTS 103
29. TRAVEL AS AN EDUCATION FOR INVESTORS 106
30. GENERAL THOUGHTS ON SPECULATION 109
31. INVESTMENT AND SPENDING 113
32. INVESTMENT AND TAXATION 117
33. INVESTMENT AND INFLATION 130
POSTSCRIPT 137
34. CASE HISTORY EXAMPLES 141
35. INVESTMENT TRUST INVESTING IS AVERAGE INVESTING 153
36. DO TAX LOSSES MEAN SAVINGS? 155
37. ODD-LOT INVESTORS AREN’T ALWAYS WRONG 157
38. WHAT WOMEN SHOULD KNOW ABOUT STOCKS 159
39. TIP TO THE INVESTOR: ALWAYS WRITE IT DOWN 162
40. WHAT IS BETTER: DOLLARS IN THE HAND—OR “IN THE BUSH”? 164
41. LAST WILLS AND TESTAMENTS SHOULD BE CAREFULLY DRAWN 166
42. PRICE OF STOCK IS WHAT COUNTS 168
43. CAREFUL INVESTORS LOOK FOR SIGNS OF QUALITY MANAGEMENT 170
44. ACT YOUR AGE WHEN INVESTING 172
45. INVESTORS SHOULD BUDGET FOR FUTURE FLUCTUATIONS 174
46. WHAT TO DO ABOUT LOSSES 176
47. SEVERAL FALLACIES OF THE MARKETPLACE 178
48. ARE YOU FAST ENOUGH TO SWITCH CAPITAL? 180
49. HOW A BULL MARKET AFFECTS YOUR INVESTMENT THOUGHTS 182
50. DON’T LET TAX QUESTIONS CLOUD INVESTMENT DECISIONS 184
51. STOP ORDERS NEED CAREFUL EVALUATION 186
52. CASH DIVIDENDS MAY SLOW GROWTH OF YOUNG COMPANY 188
53. MIDDLE COURSE HELPS BUYERS TO AVOID MARKET FALLACIES 190
54. WALL STREET PROVERBS ARE OFTEN FALLACIOUS 192
55. INVESTING IN NEW PRODUCTS 194
56. NEWS AND THE MARKET 196
57. A LITTLE INVESTMENT KNOWLEDGE IS NECESSARY FOR EVERY CITIZEN 198
58. DON’T LOOK FOR MANAGEMENT AT BARGAIN RATES 200
59. MIRACLE PLAN INVESTING 203
60. THE STEP SYSTEM 208
61. DOUBLE DIVIDENDS 211
62. A LAYMAN LOOKS AT BUILDING 221
63. INVESTMENT MANAGER’S DILEMMA 228
64. I DON’T SELL—PEOPLE BUY FROM ME 230
65. MONEY FROM MARKET LETTERS 246
66. THE IDEAL CLIENT 250
67. PERPETUAL PROFITS 253
68. WHAT MAKES A STOCK “GOOD”? 255
69. A DOLLAR TODAY 257
70. THE LEOPARD NEVER CHANGES ITS SPOTS 259
71. WORDS FOR THE BEGINNER 264
72. MORE ON TAPE READING 270
73. WHAT’S THE VALUE OF WATCHING “TAPE”? 279
74. IMPORTANCE OF EQUITY INVESTMENTS 281
75. WALLFLOWER STOCKS 285
76. MORE DOUBLE DIVIDENDS 288
77. NEVER ACCEPT WITHOUT CHECKING 303
78. HOW TO GET THE MOST OUT OF YOUR INVESTMENTS 305
