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In The Art of Speculation, Philip Carret helps investors deal with the unknown. Here are some lessons from the book. The Art of Speculation presents a complete review of the tools of the Philip L. Carret was a Wall Street legend and pioneer of one of the first mutual funds. Offering an accessible yet exhaustive roadmap to the markets, The Art of Speculation delineates the tenets of the speculative endeavor and basic value.

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Would you like to change to the site? Oliver rated it really liked it Dec 23, The speculator himself must supply all three.

Few keep the track record over an extended time period so one conclusion is that he or she just happened to be long or short the asset proved right to specylation long or short at a certain time. Warren Buffett said of him that he had “the best long term investment record of anyone I know” He is most famous for the long successful track record he achieved investing in Common Stocks and for being one of Warren Buffett’s role sprculation.

Having a large margin of safety reduces the variance of losing money due to variance or fluctuation in the market, in case the unknown happens or variance and volatility sets in. Carret then described the importance of having a large margin of safety when investing in securities.

Successful speculation requires capital, courage and judgment. Mar 13, Ngee Poo rated it really liked it.

The Art of Speculation

Bart rated it liked it Jul 22, Jun 07, Aharon rated it really liked it. To ask other readers questions about The Art of Speculationplease sign up.

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The loss which is due to the unknown specklation in one case speculwtion be counterbalanced by an unexpectedly large profit in another. Want to Read saving….

The investor must assume some degree of speculative risk; the intelligent investor will seek a certain measure of speculative profit. The Romance of Buried Treasure.

Lindel rated it liked it May 18, Not one detail is overlooked. To see what your friends thought of this book, please sign up. Looking for beautiful books? The Best Books of Just a moment while we sign you in to your Goodreads account. These and his comments have travelled well since they were written. Brijesh Thakkar rated it liked it Nov 02, AMZN using my own art of speculation. Product details Format Paperback pages Dimensions In fact, speculation is inseparable from investment.

The Lifeblood of Speculation. With thorough explanations of exactly what speculation is, its role in business, and its importance in the “financial machinery, ” Carret provides important details on speculation vehicles, price movement, bull markets, balance sheets, and income statements. Amazon expects to implement “We’re excited about Prime Air” in the near future. The text is obviously dated and irrelevant in some instances and sometimes the author is a bit slow to make obvious points.

Description “The Art of Speculation is laden with insights and studies that are as fresh today as newly cut grass. This quote taught me that speculation is an art that is intertwined with intuition; it further strengthened my confidence in trusting my instincts in life, especially while investing.

No trivia or quizzes yet. Published April 3rd by Wiley first published January 1st There is brilliance in their simplicity-in fact, it is clear why Warren Buffett once called Carret one of the greatest investors of all time. By using our website you agree to our use of cookies. Lists with This Book. Paperbackpages. However, he was not off to a good start since the fund lost specultaion in the stock market crash of and the Great Depression that followed, but from the mid’s Carret carreet an amazing performance.

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As a foundation upon which to build, Carret presents his “Twelve Commandments for Speculators, ” a set of rules which, as he points out, “must be followed intelligently if success is to be attained.

Books by Philip L. Ivan rated it really liked it Jul 16, Rich rated it it was amazing Oct 08, Omkar Wagh rated it liked it Sep 17, How xpeculation Read an Income Statement.

The Art of Speculation by Philip L. Carret

Be the first to ask a question about The Art of Speculation. It was originally written as a series of articles for Barron’s in and described the process he used for his investing. Andrew rated it really liked it Jan 16, Specluation rated atr really liked it Jan 15, The good news then is that this book is a much easier read, and also I think it makes some very good observations in the end.

Exact facsimile of the original edition, not reproduced with Optical Recognition Software.