{ "item_title" : "The cycles of speculation", "item_author" : [" Thomas Gibson "], "item_description" : "Markets rise on confidence, contract under pressure and repeatedly tempt speculators to mistake movement for certainty. This practical financial treatise examines the forces behind those recurring cycles, connecting speculative activity with business expansion and depression, monetary conditions, credit, political influences and investor psychology. Its concern is not prediction for its own sake, but the difficult discipline of judging future probabilities when capital is exposed and conditions remain unsettled. Wall Street provides the principal arena for a searching account of how markets function and how decisions are shaped. Stocks, commodities, railroad and industrial securities, grain and cotton all enter the discussion, alongside banks, clearing houses and the machinery of exchange. Puts and calls, dividends, short selling, options and stock selection are treated as parts of a wider system rather than isolated techniques. Financial crises and market indicators further reveal how general conditions can alter both values and expectations. Against tips, mechanical cycles and promises of quick profit, the work argues for knowledge, patience, adequate capital and disciplined analysis. Its approach to stock trading and commodities trading rests on research into underlying values, market structure and the conditions likely to influence what comes next. The speculator emerges not as a gambler chasing every fluctuation, but as a decision-maker required to weigh uncertainty, preserve judgement and resist easy formulas. This book was out of print for decades and is now republished by Alpha Editions. It has been restored for today's and future generations. This edition is not just a reprint - it's a collector's item and a cultural treasure.", "item_img_path" : "https://covers1.booksamillion.com/covers/bam/9/37/778/467/9377784670_b.jpg", "price_data" : { "retail_price" : "17.99", "online_price" : "17.99", "our_price" : "17.99", "club_price" : "17.99", "savings_pct" : "0", "savings_amt" : "0.00", "club_savings_pct" : "0", "club_savings_amt" : "0.00", "discount_pct" : "10", "store_price" : "" } }

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