“THE CROWD ALWAYS LOSES BECAUSE THE CROWD IS ALWAYS WRONG”

KELLY, Fred. Why You Win or Lose. The Psychology of Speculation. Boston and New York: Houghton Mifflin, 1930. Octavo, original burgundy cloth, original dust jacket. $1250.

First edition of this layman’s guide to investing in the stock market, in rare original dust jacket.

This guide offers easy to understand advice directed at the non-professional speculator about how to go against the crowd and prosper in the stock market. In anecdote-laden chapters on subjects ranging from greed to vanity to purposely acting illogically, Kelly transforms the stock market into a game that even the most amateur investor can successfully play. Owner stamp. Long review in pencil by former owner.

Book near-fine, with mild toning to spine. Bright dust jacket extremely good, with light wear and toning to extremities and a chip to spine end. Scarce.