Books

London: G.G.J. and J. Robinson, 1791. Eleventh edition, “considerably improved”. Folding table. xxxiv, 263 [1] pp. 8vo. Contemporay tree calf, spine gilt with red morocco lettering piece. Wear to spine ends,hinge neatly repaired, internally fine. Contemporary bookplates of Robert Pick and John Bell and one later bookplate. Eleventh edition, “considerably improved”. Folding table. xxxiv, 263 [1] pp. 8vo. “… to teach astonished Britons, the amazing art of thrusting their hands into the fire without burning their fingers” (from the author’s preface). Every Man His Own Broker was an enormously popular work, first published in 1761 and in print in numerous editions through 1801. Mortimer was motivated to write the book by his own considerable losses in the market in 1756. Kress B.2162

A classic financial guide aimed at helping individuals navigate the stock market independently, without relying on professional brokers. At a time when financial markets were expanding and public interest in investing was growing, particularly in London's stock exchange, Mortimer's book became popular. The book offers practical advice on how to buy and sell stocks, avoid common mistakes, and understand the stock exchange's basic workings. Mortimer's goal was to educate everyday people on how to engage in trading without falling into the traps of brokers' commissions and potential manipulation. The language and explanations are accessible, designed for those with no prior knowledge of financial markets. Mortimer discusses essential concepts like market fluctuations, speculation, and even insider trading, issues still relevant in today's markets. A central theme of the book is Mortimer's criticism of brokers. He accuses many brokers of using unethical practices to benefit themselves rather than their clients. As a result, he advocates for individuals to take control of their own investments, educating themselves on market operations so that they don't have to rely on professionals whose interests may not align with their own. Although the book is over 250 years old, it provides a historical perspective on the development of financial markets and some timeless lessons on investing. While the specific advice may no longer apply to today's highly regulated and complex financial world, the core message of being skeptical of intermediaries and the importance of financial self-education is still relevant. For those interested in the history of finance, *Every Man His Own Broker* offers a unique insight into the early days of stock trading. For modern investors, it serves as a reminder of the importance of personal financial literacy and the enduring challenges faced by individuals trying to navigate the complexities of the market.