Graham's Magazine, Vol. XXXI, No. 3, September 1847Various
General
Graham's Magazine, Vol. XXXI, No. 3, September 1847
Various
Literature -- Periodicals; Literature, Modern -- 19th century -- Periodicals
After consulting with my friend, the broker, who, to do him justice, it
must be confessed, gave me the best advice that his fears permitted, I
concluded to sell out my stock at ninety-eight, while it was on the
descent, and buy again the moment it should reach the lowest point,
which the broker and I thought would be about ninety. Then, if our
expectations should be realized, and the stock again reach what I had
before given, namely, one hundred and four, it is clear that I should,
beside recovering my loss, make eight per cent. profit.
Here was a most glorious opportunity for a speculation—one of those
that occur about twice in a century. It was a happy thought in me to
sell even at a great loss, with a view of repurchasing on better terms;
and I could not help regarding it as a singularly bold move—one
indicating great genius, and just such a one as Napoleon himself, under
similar circumstances, might have conceived and made. I became elated at
the prospect, and bade my friend sell out with all possible expedition.
He did so at ninety-eight, being a loss to me of six per cent., or six
hundred dollars—a pretty fair clip from the back of my little capital
of fifteen hundred.
I should have been exceedingly annoyed by this docking of my fortune,
had not the certainty which I felt of making good the deficiency,
encouraged me; and but for the most perfect confidence I entertained in
the success of my next adventure, I should, in all human probability,
have retired from Wall street with much the same feeling that a fox has
when he sneaks off to his hole, after parting with his tail in a trap.
But what short-sighted mortals we are, and how the blindfolded goddess
loves to sport with human calculations!
————Heu, Fortuna, quis est crudelior in nos
Te Deus?—ut semper gaudes illudere rebus
Humanis!
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