The Stock Market Barometer / Edition 1

The Stock Market Barometer / Edition 1

by William Peter Hamilton, Marketplace Books
3.5 2
ISBN-10:
0471247383
ISBN-13:
9780471247388
Pub. Date:
03/28/1998
Publisher:
Wiley

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Overview

The Stock Market Barometer / Edition 1

"[The Dow Theory] is a market forecasting tool that is still better than anything I've ever seen on Wall Street." —from the Foreword.

A renowned newspaper reporter, economist, and publisher, Charles H. Dow was a man of varied talents and interests who left an indelible mark not only on the field of journalism, but also on the world of finance. In 1882 he established, along with Edward D. Jones, the Dow Jones financial news service, and seven years later founded the Wall Street Journal. His greatest legacy, however, may be the Dow Theory, the "stock market barometer" that is arguably the single most important —and reliable —forecasting tool ever developed.

A comprehensive and authoritative look at this invaluable market gauge was first provided in 1922 by William Peter Hamilton, a financial journalist and Dow contemporary who explored the thinking behind the Dow Theory and its ramifications in The Stock Market Barometer. Widely regarded as the definitive word on the subject, this priceless investment classic celebrates its diamond jubilee with a handsome new edition to enlighten, instruct, and inspire a new generation.

Among the best strategies for understanding and determining trends in the market, the Dow Theory—a deceptively simple concept that focuses exclusively on the movements of the Dow Jones Industrial Average—has maintained, despite momentous changes in the marketplace, an impressive track record over the years. Its consistently high rate of performance is a testament to its credibility in predicting where the market is headed.

In The Stock Market Barometer, William Hamilton's clear and in-depth analysis explores the Dow Theory's underlying principles, its explanation of averages and its remarkable affinity for predictable cycles of panic and prosperity. More than just a blueprint of the Theory, however, Hamilton's cogent discussion provides a concise examination of the stock market and its history since 1897, as well as thorough descriptions of the notable trends he observed during a distinguished career. His undisputed gifts of insight and interpretation bring focus and flavor to his candid views on a variety of vital topics, including market manipulation, speculation, and regulation.

Ageless in its directness, approach, and success rate, the Dow Theory has withstood the test of time. So, too, has The Stock Market Barometer. A springboard from which current Dow Theory has thrived, this priceless work remains as vital a guide to market prediction as when it first appeared seventy-five years ago.

"Hard drives didn't exist in Charles Dow or William Peter Hamilton's day nearly 100 years ago. Yet, these two men developed and refined a market forecasting tool that is still better than anything I've ever seen on Wall Street. . . . If you are a serious student of investing, you owe it to yourself to 'go back to the future' and read this book." —from the Foreword by Charles B. Carlson.

"Hard drives didn't exist in Charles Dow or William Peter Hamilton's day nearly 100 years ago. Yet, these two men developed and refined a market forecasting tool that is still better than anything I've ever seen on Wall Street. . . . If you are a serious student of investing, you owe it to yourself to 'go back to the future' and read this book." —from the Foreword by Charles B. Carlson.

First published in 1922, this priceless investment classic is regarded by many as the definitive word on Dow Theory, the "stock market barometer" developed by Charles H. Dow. Here, financial journalist and Dow contemporary William Peter Hamilton explores both the thinking behind and the intricacies of the Dow Theory. The springboard from which current Dow Theory was launched, The Stock Market Barometer is as relevant, informative, and important today as it was the day it was written.

"I urge you to read this book, and read it again and again. Robert Rhea, the famous Dow Theorist of the 1930s, stated that he read and reread The Stock Market Barometer at least once a year. Frankly, I can think of no better advice." —Richard Russell, Publisher, Dow Theory Letters, Inc.

Product Details

ISBN-13: 9780471247388
Publisher: Wiley
Publication date: 03/28/1998
Series: A Marketplace Book Series , #17
Pages: 347
Product dimensions: 5.90(w) x 8.80(h) x 1.20(d)

Table of Contents

Cycles and Stock Market Records.

Wall Street of the Movies.

Charles H. Dow, and His Theory.

Dow's Theory, Applied to Speculation.

Major Market Swings.

A Unique Quality of Forecast.

Manipulation and Professional Trading.

Mechanics of the Market.

"Water" in the Barometer.

"A Little Cloud Out of the Sea, Like a Man's Hand"—1906 The Unpunctured Cycle.

Forecasting a Bull Market—1908-1909.

Nature and Uses of Secondary Swings.

1909, and Some Defects of History.

A "Line" and an Example—1914.

An Exception to Prove the Rule.

Its Greatest Vindication—1917.

What Regulation Did to Our Railroads.

A Study in Manipulation—1900-1.

Some Conclusions—1910-14.

Running True to Form—1922-1925.

Some Thoughts for Speculators.

Appendix.

Averages.

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