Victorian Petroleum Companies
"I sit on a man's back, choking him and making him carry me, and yet assure myself and others that I am very sorry for him and wish to ease his lot by all possible means - except by getting off his back." Leo Tolstoy - Writings on Civil Disobe- ence and Non-Violence (1886). In today's world where sustainable development has become a critical security concept for the well-being of the environment and society, the man Tolstoy depicts might well be interchangeable for either the planet in terms of its carrying-capacity or its bene?ciary, society. While it is arguable that mining is neither inherently sustainable nor unsusta- able (O'Faircheallaigh, this volume), exploration, production, and consumption of non-renewable resources over time makes the industry ultimately unsustainable if it results in negative socio-economic impact (Waye et al., this volume). This inva- ably leads to de?nitions of sustainability in terms of the ?nancial bene?ts that can accrue from transforming natural capital into human capital, theoretically creating intergenerational bene?ts (ibid.). Such a de?nition of sustainability is inherently utilitarian, assuming the English political philosopher Jeremy Bentham's sugg- tion that human nature avoids pain for the pursuit of pleasure, and that legislators should therefore base decisions on the greatest happiness for the greatest number of people (Bentham 1996).
If speculation were an exact science, one would simply have to analyze a situation, select the appropriate rule, and buy or sell accordingly. But the factors that influence prices are infinite in number and character, as well as in their effect upon the market; and the speculator's forecasts of the probable outcome are nothing more than composite products of his own emotional equipment, his theoretical knowledge of the principles involved, and that reservoir of accumulated memories called "Experience." -from "Intuition" The corporate arena in the United States has changed tremendously since the early years of the Great Depression, but the basics of buying, selling, and making-and losing-money in the stock market have remained the same. This eighth edition of a classic of stock speculation was assembled from articles appearing in The Magazine of Wall Street in 1926 and 1927 and updated in 1933, just as new market rules and regulations were coming into play to prevent Black Friday from occurring again. With a straightforward tone and solid insight, this work, still recommended as must reading for players in the market, covers: . the principles and techniques of manipulation . tape reading . the law of averages . charts and mechanical systems . fundamentals . what to buy, and when . rights, arbitrage, and puts and calls . and more. JOHN DURAND also wrote How to Secure Continuous Security Profits in Modern Markets (1929). A. T. MILLER is also the author of Principles of Successful Speculation (1931)."
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