This article is only available in the PDF format. Download the PDF to view the article, as well as its associated figures and tables.
The recent flood of warnings about the dangers of speculation makes it perhaps advisable to lay down a few ground rules to help the physician evaluate the spate of hot tips, hunches, and highly erratic glamour shares which currently deluge the financial community—and unfortunately are sometimes passed on to the public as "investment advice."
In a declining, or bear, market, warnings about speculation are generally unnecessary. Only the skilled professional investor, thoroughly informed amateur, or born gambler risks his money in the face of a widespread downward trend. But in an aggressive rising, or bull, market, speculation tempts almost everyone, and the average investor is not immune to the lure of fast capital gains.
Spearheading the recent breakthrough of the Dow Jones industrial averages of, first, the 600 level, and almost exactly two months later reaching the 630 point, has been a sustained though not always justified interest in what
Merkle EA. SPECULATION, GLAMOUR SHARES, AND SLEEPER STOCKS. JAMA. 1959;170(10):1227–1228. doi:10.1001/jama.1959.63010100022022
Coronavirus Resource Center
Customize your JAMA Network experience by selecting one or more topics from the list below.
Create a personal account or sign in to: