The Stock Exchange from Within
William C. Van Antwerp · 1913
5.0 · 3 ratings
About the book
The Exchange's own defence brief, written when Congress wanted its scalp: what the market is for, why short sellers matter, and what actually happened in 1907. Van Antwerp argues the institution's case with statistics, history and visible impatience.
Try the short course
Part 1 · Why a market needs one roof. The first six slides, free.
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Say you want a piano. There is one dealer in town, so you either pay his price or spend days hunting for another dealer who may be no cheaper. You buy, and you walk home suspecting you overpaid.
Van Antwerp’s point is that the suspicion is correct, and the fix is not a nicer dealer. Put twenty dealers in one room bidding against each other and you get a better price. Fifty is better still. The more competition there is, close together and bound by rules, the nearer you get to a perfect price.
Nor is this a Wall Street invention. He points to periodic fairs, to Billingsgate and Covent Garden before daybreak, to the great food halls of Paris. People everywhere gather sellers in one place, because that is how a fair price gets made.
Inside the course
19 parts- The functions of the stock exchangeFree above
- Price, and why the market is the world's best appraiser
- The uses and abuses of speculation
- Speculation versus gambling: the distinction Van Antwerp insists on
Questions
Is The Stock Exchange from Within free to read in Astra Trainer?
Yes. The full book opens free in the app’s reader, in English, French, Portuguese, and Russian.
What is the short course?
19 short parts that walk through the book’s key ideas in slides, each with a quick quiz. The first six slides are free to try on this page.
Where do I get the app?
Astra Trainer is free on the App Store and Google Play. The Stock Exchange from Within is waiting in the app’s library.
