Get All Thomas Gibson Books in One Pack:
| The Increasing Gold Supply |
| Simple Principles of Investment |
| Pitfalls Of Speculation |
| The Elements of Speculation |
| Thomas Gibson’s Special Market Letters |
| The Cycles of Speculation |
Introduction:
For the sake of a clear understanding it may be well to define the meaning of the word “Speculation” as employed in this volume. There has been a widespread corruption of the term, particularly when applied to operations in securities. The popular understanding is that a speculator is one who gambles on margin, who buys what he cannot pay for, or sells what he does not own.
The Increasing Gold Supply and Its Effect on Security Values is a book which Compiled from Thomas Gibson’s Special Market Letters.
Thomas Gibson’s Special Market Letters letters have been compiled and presented in this form for the convenience of subscribers and others who may find them of interest.
For the purposes of Simple Principles of Investment, the word “speculate”, or its derivatives, whenever employed, will be understood to mean any form of transaction which contemplates, in addition to income return, a further return through accretion of principal.
During the ten years which have elapsed since the “Pitfalls of Speculation” was first published a great many personal communications have been received by the author asking for enlightenment on various phases of the subject. The question most frequently asked is how the novice may most intelligently go about the task of determining when general basic conditions and future prospects are satisfactory.
