In The Art of Speculation, Philip Carret helps investors deal with the unknown. Here are some lessons from the book. The Art of Speculation presents a complete review of the tools of the Philip L. Carret was a Wall Street legend and pioneer of one of the first mutual funds. Offering an accessible yet exhaustive roadmap to the markets, The Art of Speculation delineates the tenets of the speculative endeavor and basic value.

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The Art of Speculation

The Art of Speculation Philip L. Published April 3rd by Wiley first published January 1st The Analysis of Industrial Stocks.

The Art of Speculation by Philip L.

The speculator himself must supply all three. His Twelve Commandments for Speculators is good advice for us all.

Table of contents What is Speculation? There are no discussion topics on this book yet. Rich rated it it was amazing Oct 08, With clarity and precision, he presents the history of the profession, the relationship between speculation and business, and the fundamentals-bonds, securities, derivatives, and stocks, as well as the more complex areas of analysis, margins, and arbitrage. By sufficient diversification these unknown factors affecting individual securities cancel each other.


Having a large margin of safety reduces the variance of losing money due to variance or fluctuation in the market, in case the unknown happens or variance and volatility sets in. Nawar Alsaadi rated it liked it Dec 17, His relentless approach to business combined with his incredible ability to execute his ideas gives him a tremendous differentiation advantage in the global specialty retail industry. Dispatched from the UK in 3 business days When will my order arrive?

The good news then is that this book is a much easier read, and also I sspeculation it makes some very good observations in the end. Alex rated it really liked it Dec 08, Carret gives the basic fundamentals of how to be a successful investor while using speculation as a form of art. Forecasting the Major Swings.

The Art of Speculation –

We’re featuring millions of their reader ratings on our book pages to help you find your new favourite book. The text is obviously dated and irrelevant in some instances and sometimes the author is a bit slow to make obvious points. Sk rated it it was amazing Dec 20, Philip Carret — cannot be accused of being a one hit wonder.

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. Return to Book Page.


Acclaim for The Art of Speculation “Philip Speculatino has been practicing the art of investing longer than anyone.

The investor must assume some degree of speculative risk; the intelligent investor will seek a certain measure of speculative profit. The initial effort evolved into Pioneer Investments.

We use cookies to give you the best possible experience. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. Offering an accessible yet exhaustive roadmap to the markets, The Art of Speculation delineates the tenets of the speculative endeavor and basic value investing, a strategy oft forgot in the turbulence of today’s confusing specupation landscape. Goodreads is the world’s largest site for readers with over 50 million reviews.

The speculators judgment needs to be trained to understand the multitudinous facts of finance.

Carret’s classic is a perceptive and complete examination of speculation and its vital role in our economy. Profits in Financial Surgery. There is brilliance in their simplicity-in fact, it is clear why Warren Buffett once called Carret one of the greatest investors of all time. The Romance of Buried Speculatin.