The Art of Speculation

Even among Wall Street legends, Philip L. Carret is a giant, the founder of one of the first mutual funds--the Pioneer Fund, which debuted in 1928--and a fount of knowledge and experience whose investing wisdom is acclaimed to this day.

This classic guide to the nuts and bolts of speculating in the market, assembled from a series of articles for Barron's, is still one of the best primers available for beginners... and an excellent brush-up lesson for old hands. In clear-eyed, down-to-earth language, Carret discusses:

* what is speculation?
* why the investor must speculate
* how stocks resemble real estate
* trading on margin
* over-the-counter trading
* how to find a reliable broker
* the disadvantages of options
* the secret of the "sure-thing speculation"
* forecasting market swings
* understanding a bull market
* how to read a balance sheet
and much, much more.

American entrepreneur and financial writer PHILIP L. CARRET (1896-1998) is also the author of Buying a Bond.