Excerpt from A Century of Cycles in Business Facts are the data for all just reasoning, the primary elements of all real knowledge. Knowing that history never fails to repeat itself and given the facts of the past, it is not necessary to possess the gift of prophecy to formulate an infallible rule, which if taken at the advance leads to success; and, if taken at the decline, leads to bankruptcy and ruin. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.