The Art of Speculation - (Wiley Investment Classics) by Philip L Carret (Paperback)

About the Book

Caret explains the difference between speculation and investment--an important distinction in activities--provides the tenets of basic value investing (Warren Buffett's strategy), and includes the twelve commandments for speculators that are considered paramount in today's investment environment. Charts, graphs & tables.

Book Synopsis

Was ist der Unterschied zwischen Spekulation und Investition? Kennen Sie die 12 Gebote fur Spekulanten? Dies und eine Fulle weiterer Tips zu Marktbewegungen, Marktanalysen, Bilanzen und Vorhersagen verrat Ihnen dieses umfassende, aber leicht lesbare Buch.

From the Back Cover

"The Art of Speculation is laden with insights and studies that are as fresh today as newly cut grass . . . a joy to read. The topics covered were timeless in 1931 . . . and written in 24-carat prose." -from the Foreword by Victor Niederhoffer

A classic in every sense of the word, The Art of Speculation has been heralded by investors, both past and present, as a true standout in the field. Written by Philip Carret -a Wall Street legend long considered a leading thinker in basic value investing -this timeless work is as vital a part of finance literature today as it was when it first appeared almost seventy years ago.

Acclaim for The Art of Speculation

"Philip Carret has been practicing the art of investing longer than anyone. In the current frothy stock market environment it is helpful to read his insights into the Great Crash of 1929 to see if there are useful parallels. Beginning investors will find The Art of Speculation instructive and students of the market will learn much about what investing was like seven decades ago before computers, derivatives, junk bonds, discount brokers, and hedge funds. His Twelve Commandments for Speculators is good advice for us all." -Byron R. Wien, Managing Director/U.S. Investment Strategist Morgan Stanley & Co., Inc.

"A genuine rarity: the intricacies of investing illuminated by clear writing and timeless insight. The chapters on how to read a balance sheet and income statement are classics. No investor should even consider dabbling in the frantic IPO market of today without having read them first." -Christopher M. Byron Esquire

About the Author

PHILIP L. CARRET has been a bond salesman, financial journalist, and mutual fund manager of extraordinary vision and ability. He is the founder and Chairman of Carret & Co., and Chairman Emeritus and Director of the Pioneer Group. In 1924, he launched The Fidelity Investment Trust with $25,000 of his own money. Known today as the prestigious Pioneer Fund, it boasts over $2 billion in assets.