Project Gutenberg 2025-03-22 Public domain in the USA. 184 Gibson, Thomas 1868 07037541 The cycles of speculation $aNew York :$bThe Moody Corporation, $c1907. deaurider and the Online Distributed Proofreading Team at https://www.pgdp.net (This file was produced from images generously made available by The Internet Archive) "The Cycles of Speculation" by Thomas Gibson is a financial treatise written in the early 20th century. The book explores the recurring patterns, causes, and consequences of speculative activity in financial markets—most notably stocks, commodities, and related economic events. Its central focus is on educating would-be speculators about the realities and requirements of successful market participation and debunking common misconceptions around speculation, gambling, and investment. The opening of "The Cycles of Speculation" establishes the importance of demystifying speculation and argues that speculation is an inherent aspect of human nature and economic life. The author critiques simplistic condemnations and blanket warnings against speculating, urging instead a focus on identifying the real pitfalls and educating speculators about the skills needed for success. Gibson explains how speculative losses typically result not from fixed mechanical disadvantages (like gambling odds), but from poor methods, lack of knowledge, and psychological errors. He then outlines the historical cycles of market booms and busts, showing how stock prices tend to reach their peaks ahead of general business downturns, and illustrates the influence of factors such as the gold supply, monetary conditions, political events, and crop yields. Throughout, the emphasis is on thorough study, logical reasoning, and disciplined evaluation—rather than chasing quick riches or relying on hunches—in speculation. (This is an automatically generated summary.) https://archive.org/details/cyclesofspeculat00gibsuoft 20220630082943gibson 1907 US Reading ease score: 59.3 (10th to 12th grade). Somewhat difficult to read. en Speculation Financial crises HG Text Category: Business/Management Category: Economics 325508 2025-07-30T04:44:46.029519 text/html 299499 2025-03-22T12:44:48 text/html 783995 2025-07-30T04:44:53.304495 application/epub+zip 780669 2025-07-30T04:44:47.784499 application/epub+zip 380536 2025-07-30T04:44:46.822576 application/epub+zip 1598100 2025-07-30T04:44:56.811506 application/x-mobipocket-ebook 1575713 2025-07-30T04:44:52.384477 application/x-mobipocket-ebook 253690 2025-07-30T04:44:45.020105 text/plain; charset=us-ascii 233803 2025-03-22T12:44:48 text/plain; charset=us-ascii 15901 2025-07-30T04:44:57.025518 application/rdf+xml 15184 2025-07-30T04:44:47.076502 image/jpeg 2282 2025-07-30T04:44:46.948527 image/jpeg 785830 2025-07-30T04:44:46.071053 application/octet-stream application/zip Archives containing the RDF files for *all* our books can be downloaded at https://book.klll.cc/wiki/Gutenberg:Feeds#The_Complete_Project_Gutenberg_Catalog