“THE FREQUENCY AND THE VIOLENCE OF THE NORMAL SECURITY MARKET HAZARD TEND TO INCREASE OR DECREASE IN DIRECT RATIO WITH THE NUMBER OF THE INVESTOR’S TOOLS, AND HIS COMPETENCY TO USE THEM”

SLOAN, Laurence H. Everyman and His Common Stocks. A Study of Long Term Investment Policy. New York and London: Whittlesey House, 1931. Octavo, original burgundy cloth. $850.

Rare first edition of Sloan’s classic guide to long-term investing, emphasizing the importance of patience and caution.

Written at the height of the Great Depression, this work was one of the few that offered investors reassurance. Geared toward the long-term investor, it showed readers how to invest with relatively low risk and how to predict and avoid the sort of large-scale panic that had preceded the 1929 Crash. Sloan’s work remains a practical and valuable resource for the careful investor. Without scarce original dust jacket.

A very nearly fine copy.