CUTTEN, Arthur W.

£3,750 · Offered by Peter Harrington · No longer available

The Story of a Speculator. First appearance in print of Cutten's important financial autobiography, serialized in the Saturday Evening Post. The work was not published in book form until 1936, in a private edition very rarely encountered.Cutten was one of the great traders of the Roaring Twenties. "In 1924 he might have made as much as $20 million when he cornered the wheat market. Because of government intervention in the futures markets, he moved his operations to New York and set about the stock market with the same dogged determination. There he participated in some of the great corners with the Fisher brothers, and at the time of the crash was allegedly worth $90 million" (Dennistoun). The Crash hit Cutten hard. By his death in 1936 he was under indictment for tax evasion and his estate was valued at only $350,000.Seen as one of the reckless profiteers who had contributed to the Crash, Cutton was summoned to Washington in 1933 to participate in the Stock Exchange Practices Hearings. As with other tycoons called, he gave little away. However, his publication here in the popular Saturday Evening Post - one of the most widely circulated and influential magazines in America at the time - is more revealing, feeding the public appetite, during the Depression, for stories of the pre-Crash boom. Cutten's secrets, as revealed in the Story, are summarized as "1. Look for long-term investment. 2. Wait for undervalued situations. 3. Study the fundamentals. 4. Accumulate a position s

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