Author : Edgar Lawrence Smith
Release : 2015-11-06
Genre : Business & Economics
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Book Rating : 290/5 ( reviews)

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Common Stocks As Long Term Investments - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Common Stocks As Long Term Investments write by Edgar Lawrence Smith. This book was released on 2015-11-06. Common Stocks As Long Term Investments available in PDF, EPUB and Kindle. Edgar Lawrence Smith, (1882-1971) was an economist, investment manager and author of the influential book “Common Stocks as Long Term Investments”, which promoted the then-surprising idea that stocks excel bonds in long-term yield. . He worked in banking and other financial endeavors in the years after college, then signed on in 1922 as an adviser to the brokerage firm Low, Dixon & Company. While there, he later recounted in his Harvard class’s 50th reunion yearbook, “I tried to write a pamphlet on why bonds were the best form of long term investment. But supporting evidence for this thesis could not be found.” This discovery led to the 1924 publication of “Common Stocks as Long Term Investments.” The book was widely reviewed and praised, and became a key intellectual support for the 1920s stock market boom. Its success enabled Smith to launch a mutual fund firm, “Investment Managers Company.” It also garnered him an invitation from the economist John Maynard Keynes, who had favorably reviewed the book in “The Nation”, to join the Royal Economic Society. The Wall Street Crash of 1929 brought a turn in Smith’s fortunes.—Print Ed.