Common stocks as long term investments by edgar lawrence smith this book has been cited as one cause of the great depression because it led to overconfidence in us investors in the safety in investing. A long term investment is an account on the asset side of a companys balance sheet that represents the companys investments including stocks bonds real estate and cash long term investments . Toward the end of chapter 27 of their 1940 edition of security analysis benjamin graham and david dodd discuss edgar lawrence smiths 1924 book common stocks as long term investments which they deem a small and rather sketchy volume. Edgar lawrence smith was an economist investment manager and author of the influential book common stocks as long term investments which promoted the then surprising idea that stocks excel bonds in long term yield. Investment trust funds investment trust fund a quarterly distributions investment trust fund b accumulative a sequel to common stocks as long term investments
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