“SPECULATION—TO PRACTICE IT PROFITABLY—MOST REQUIRES HIGH INTELLECTUAL ATTAINMENTS”
HOYNE, Thomas Temple. Speculation. Its Sound Principles and Rules for Its Practice. Chicago: Economic Feature Service, (1922). Octavo, original dark teal cloth. $650.
First edition of this work discussing speculation and approaching it as “the very essence” of economics.
Divided into two lengthy sections, this work devotes its first half to tearing apart the theories and schemes of several well-known economists such as Irving Fisher and its second half to laying out a series of principles useful for investors engaging in speculation. Written during the depression following the First World War, this book takes the view that economists, both lettered and amateur, largely dismissed the human component of the markets and, in doing so, neglected the single most important aspect of the economy. Hoyne's principles attempt to remedy that and provide investors with a roadmap for profiting in the stock market. Contemporary owner signature.
Mild toning to spine. A very nearly fine copy.