"The Careful Investor" by Edward Sherwood Mead is a comprehensive guide for individuals looking to navigate the complex world of investing.
The book covers a wide range of topics, starting with the risks involved in the stock market and the decision between investing in stocks or bonds. Mead delves into the intricacies of corporate mortgages and deeds of trust, providing readers with a thorough understanding of these financial instruments.
The role of banking houses in aiding investors is explored, along with the business practices of investment bankers. Mead emphasizes the importance of working with reliable investment bankers to ensure sound investment decisions. The book also discusses public obligations, with a focus on municipal bonds as preferred investment options.
The American railway industry is analyzed in detail, including the impact of railway labor on investment opportunities. Mead discusses the concept of a reasonable return on investment in public service corporations, as well as the securities of these corporations. The relationship between investment bankers and public utility companies is also examined.
Other topics covered in the book include farm mortgages, industrial bonds, railroad bonds, timber bonds, and industrial preferred stock. Mead compares industrial and railroad bonds, and discusses the dissolution of trusts and the impact of gold supply on investments. Price movements since 1865 are analyzed, along with the future of prices and their implications for investors.
Overall, "The Careful Investor" provides readers with a wealth of information and insights to help them make informed investment decisions. Mead's expertise and thorough analysis make this book a valuable resource for anyone looking to navigate the complexities of the investment world.
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