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There are available for purchase or sale securities of the widest possible variety, issued by countless corporations, municipalities, states, nations, etc. Merely to learn the names of all of them represents a quite impossible task. Equally varied with respect to their individual requirements are the purchasers and sellers of these securities. What is one man’s meat is another man’s poison, holds no more true of food than it does of securities. The variety which prevails in the security market, nevertheless, represents a distinct opportunity to the person trained to discriminate, though it is a source of confusion to others. In either case, since mistakes once made cannot as a rule be corrected without loss, the only safe course to pursue is to investigate first.
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