Book : Art Of Wall Street Investing
“INVESTING MONEY WISELY IS A MOST IMPORTANT AS WELL AS A MOST DIFFICULT ART”: MOODY’S ART OF WALL STREET INVESTING, 1906
MOODY, John. The Art of Wall Street Investing. New York: Moody, 1906. Quarto, original red cloth gilt.
First edition of this pioneering Wall Street guide by one of the fathers of investment analysis, with informed sections on bonds, stocks, “get-rich-quick” schemes and much more, in original cloth.
Early Wall Street analyst and leading financial writer John Moody is one of the fathers of modern investing. In 1900, having created his investment company and launched Moody’s Manual, he followed with Moody’s Magazine in 1905 and the annual Moody’s Analysis of Investments in 1909, the same year he published this groundbreaking work, The Art of Wall Street Investing. Published at a time when Wall Street practices were largely unregulated, Moody’s Art of Wall Street Investing proposes “two important primary principles. The first is to place one’s principal where it will be entirely secure, and the second, to gain as large a percentage of return as possible without… lessening the security of the principal.” In this Moody aligns himself with Warren Buffett’s oft-quoted “Rule No.1: Never lose money. Rule No.2: Never forget rule No.1.” Moody’s Art of Wall Street Investing further led the way in endorsing the use of financial ratios to establish the worth of an investment— a practice subsequently known as “common-size” analysis, and it also includes sections on bonds and stocks, railroad securities, “get-rich-quick” schemes and a chapter on basic Wall street terms and practices. With five pages of ads at rear.JOHN MOODY