Excerpt from Investment Analysis: Fundamentals in the Analysis of Investment Securities Numerous dimculties lie before the writer of a book on any business subject. Particularly is this true in the field of investments, where many mooted points exist, and lack of standardization in many security issues still prevails. Every investment is an individual problem. Consequently to apply a standard form of analysis, and at the same time allow suffi cient elasticity in treatment for the qualifications which must be constantly made in practice, places a large task upon the author. There is also no business subject in which one is forced to deal with the technical aspects of so many subjects. Some will doubtless criticize the present text, because of its large inclusions from the fields of corporation finance, accounting, law, banking, and engineering. Though every author would draw from all of these fields in varying degree, no author undertaking a complete analysis of investment securities would eliminate any one of them. With so many complexities involved, the author may con ceive his task too ambitiously and unconsciously sacrifice clear ness and simplicity of plan which are so essential in the exposition of a large subject. In the attempt to be thorough and scientific, the author's treatment of the subject may be so complex that the expert alone can follow it. On the other hand, the author may be misled into a superficial treatment and fail to establish a foundation upon which the student may build in the future. Whether this book has succeeded in evading these dangers or not, the author has prepared it with the full realization of these difiiculties. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.