Author: Kenneth S.van Strum
1925 historic collector’s find. Written just before the Oct, 1929 stock market crash, a forward by Irving Fisher of Yale University concludes: “At any rate the moral of Mr. Van Strum’s book for the conservative investor is that he must not be afraid to invest largely in common stocks.” Many charts are included in this wonderful piece of history.
In this work, Kenneth Van Strum asserts that ownership of common stocks could serve as a valuable means of preserving purchasing power. Van Strum believed that stocks were superior to bonds as they were more resistant to the effects of inflation. However, though many economists warned about the risks of foolish over-investment in stocks and lack of diversification, some of these theories have nevertheless been blamed for the 1929 crash. Nonetheless, this was still one of the earliest works to recognize some of the unique qualities inherent to stocks.