Thomas Gibson

Thomas Gibson was a prolific writer on investment and speculation, having authored several books to his credit. His skill lay in analyzing, examining, and giving his readers, in an accessible form, all the principal factors in connection with speculation and stock prices.

According to Gibson, any investor with average intelligence should realize and admit that the best time to purchase securities is when prices are depressed, not when they are inflated. Gibson said still the great bulk of public buying of securities is done at the approximate top of a major cycle of prices, while most of the selling is done when prices are very low. In his books, Gibson listed the factors that are responsible for speculative losses which are:

1. Buying at high prices after a major advance.
2. Operating on insufficient margins or overspeculating.
3. Relying on tips and “market appearances.”
4. Relying on charts or similar systems.
5. Using stop-loss orders.
6. Impatience and inability to await results
7. Psychological effects of greed and fear.