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Letter To The Editor

Letter To The Editor Having referred most favourably to my recent book "Investment for All" (Gee & Co.), I hope you will not mind if I defend my definition of Investment which you have stated "entirely ignores investment for pure appreciation". I repeat my definition "Investment" is the use of money in the purchase of any species of property or a deposit for the purpose of earning interest. I take two pages of the book quoting and examining various definitions of investment and finding them all inadequate. I quote Blackstone's comment­ aries' wide definition of property, and I come up with my own definition which the or, I suggest, splits Investment into two main categories, the former including investments for appreciation, the latter, the deposit of money to earn interest. Having said that, I do not object to "gain" being substituted as you suggest for "interest" in my definition, but I remain convinced that "interest", as a term is to be preferred. On your other point, of course, of those men or women who spend their last penny on a venture which succeeds (many fail) would not have succeeded in making their hundreds of thousands had they not risked their all. But this kind of individual is the exceptionso I stick to my advice in the other 98 per cent which is I quote "Before the family man buys a single stock or share in any form, he should in priority purchase the family home by a mortgate backed with life assurance, have adequate life assurance to safeguard his dependants in the event of his death and have £500 or so tucked away against a rainy day in a Building Society or like safe place. Then and only then, if he is hooked on equities, should he get diversification through investment trusts or unit trusts". Yours sincerely, WILLIAM G. NURSAW, Investment and Insurance Consultant Spencer House, 4 South Place, London EC2M 2UL. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asian International Arbitration Journal Kluwer Law International

Letter To The Editor

Asian International Arbitration Journal , Volume 40 (1): 1 – Feb 1, 1973
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Publisher
Kluwer Law International
Copyright
Copyright © 1973 Kluwer Law International BV, The Netherlands
ISSN
1574-3330
Publisher site
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Abstract

Having referred most favourably to my recent book "Investment for All" (Gee & Co.), I hope you will not mind if I defend my definition of Investment which you have stated "entirely ignores investment for pure appreciation". I repeat my definition "Investment" is the use of money in the purchase of any species of property or a deposit for the purpose of earning interest. I take two pages of the book quoting and examining various definitions of investment and finding them all inadequate. I quote Blackstone's comment­ aries' wide definition of property, and I come up with my own definition which the or, I suggest, splits Investment into two main categories, the former including investments for appreciation, the latter, the deposit of money to earn interest. Having said that, I do not object to "gain" being substituted as you suggest for "interest" in my definition, but I remain convinced that "interest", as a term is to be preferred. On your other point, of course, of those men or women who spend their last penny on a venture which succeeds (many fail) would not have succeeded in making their hundreds of thousands had they not risked their all. But this kind of individual is the exceptionso I stick to my advice in the other 98 per cent which is I quote "Before the family man buys a single stock or share in any form, he should in priority purchase the family home by a mortgate backed with life assurance, have adequate life assurance to safeguard his dependants in the event of his death and have £500 or so tucked away against a rainy day in a Building Society or like safe place. Then and only then, if he is hooked on equities, should he get diversification through investment trusts or unit trusts". Yours sincerely, WILLIAM G. NURSAW, Investment and Insurance Consultant Spencer House, 4 South Place, London EC2M 2UL.

Journal

Asian International Arbitration Journal – Kluwer Law International

Published: Feb 1, 1973

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