New Levels in the Stock Market.

First edition. 8vo. x, 264 pp. Original maroon red cloth, spine lettered in gilt on black ground (ownership inscription of 'Chauncey Raber' to front and rear endpapers, otherwise internally clean and unmarked; some light wear to extremities, spine a shade faded, some small faint marking to covers, withal a very good copy). New York, McGraw-Hill Book Company, Inc.

'New Levels in the Stock Market reads like a hymn to the future. It appeared just one month before the crash in September 1929, and must have been rushed out by the publisher. The urgency to publish is no wonder: Dice fell for the bull market hook, line, and sinker: “Old standards of judgement have been overthrown. That stocks must represent intrinsic value is still true, but who shall say what is intrinsic value? Is it ten times earnings, or fifteen or twenty-five? … Who can judge the future development of radio? Of the airplane? Of vitaphone? Of the automobile? … Old tools are useless and new ones have to developed. Meanwhile, we are all experimenting but all loyal to the faith that something big is just ahead.” How right he was' (Dennistoun).

Dennistoun, Bubbles, Booms and Busts, 112.

Stock Code: 247831