Masters Thesis

Automatic and formula investment plans

Anyone who has ever seriously invested any of his own capital in the securities markets of this country must have asked himself many questions concerning the functioning of these markets. What makes a stock rise or fall? Why does one stock sell for $100 and another for $20? What relation does the price of a company's stock have to the value of the company? These and many more questions should fill the mind of a new investor. If these questions were asked, but not answered before the investment program was begun, it is probable that the new investor found out the hard way that the stock market functions like other businesses in that the weak (or uninformed) fail and the strong succeed. This new investor, then, if he has retained any capital, must study the market and return, hopefully, to make a better showing.

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