"SPECULATION, WHETHER IT IS IN SECURITIES, REAL ESTATE, GROCERIES OR WHATEVER, MUST BE CONDUCTED AS A BUSINESS": RARE FIRST EDITION OF GIBSON'S THE ELEMENTS OF SPECULATION
GIBSON, Thomas. The Elements of Speculation. New York: Gibson, 1913. Octavo, original blue cloth. $1200.
First edition of Gibson's scarcest book on beating the stock market.
Wall Street expert Thomas Gibson was known for his popular series of Weekly Letters and his articles in financial journals. This mid-career work was one of several he wrote focusing on the subject of speculation, likely his area of greatest expertise and knowledge. Here, he focuses on all aspects of speculation from speculating in crops, commodities, railroads, and foreign trade to working out the logistics of charts and stop loss orders. Gibson also devotes a chapter to the mental characteristics of speculators, cautioning about the losses that result from panics—a warning that hopefully served his readers well a decade later. This book was noted in both the Magazine of Wall Street (Volume 12:74) and Pratt's Work of Wall Street.
Faint soiling to rear board and only slight rubbing to spine ends. A very nearly fine copy. Rare.