Abstract

Misplaced Investment Trust
Hazlitt, Henry | September 24, 1930 issue

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The article discusses the book "Investment Trusts Gone Wrong!," by John T. Flynn. Flynn, in the present little volume, subjects practices of trusts to an excoriating analysis. His book seems to be the most important of its kind since author William Z. Ripley's book "Main Street and Wall Street." The financial hocus-pocus it describes is even more brazen. But what gives the book its real force is not its prose style, not even the clarity of its exposition, but the bald facts it has to record. It states that the main purpose, for example, for which an investment trust is supposed to be organized, is to substitute the expert investment of its managers for the otherwise unskilled investment of the trust's stockholders.

See Also:

INVESTMENT Trusts Gone Wrong! (Book); FLYNN, John T.; CORPORATIONS -- Finance; EXECUTIVES; INVESTMENTS; STOCKHOLDERS; MAIN Street & Wall Street (Book); RIPLEY, William Z.
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