Finance—Public & Private
The Bait of the Shilling Share
IT seems inevitable, but is distinctly regrettable, that great activity on the Stock Exchange, and, not least, activity in the matter of new capital creations, is almost invariably followed by financial losses on the part of the general public. As generation succeeds generation this experience of boom followed by slump seems to be per- petuated, and what is no less remarkable is the fortitude with which the British public bears its losses. Moreover, while commiserating with the speculative investor who may have suffered in this fashion, it is impossible not to remember the futility of giving warnings, for when stocks are rising and the boom is flourishing, it is the tipster who is in favour, and those who warn are usually counted as mere Jeremiahs or spoil sports.
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