The Stock Market Barometer: A Study of Its Forecast Value Based on Charles H. Dow's Theory of the Price Movement. With an Analysis of the Market and Its History Since 1897

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Harper & Brothers, 1922 - 325 páginas

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Página 2 - There is the moral of all human tales ; 'Tis but the same rehearsal of the past, First Freedom, and then Glory — when that fails Wealth, vice, corruption — barbarism at last. And History, with all her volumes vast, Hath but one page...
Página 165 - The mountains look on Marathon — And Marathon looks on the sea; And, musing there an hour alone, I dreamed that Greece might still be free; For, standing on the Persians' grave, I could not deem myself a slave.
Página 154 - Are baubles nothing worth, that only serve To rouse us up, as children in the schools Are roused up to exertion. The reward Is in the race we run, not in the prize...
Página 65 - ... such values as exist or which are expected to exist in the not too remote future. The thought with great operators is not whether a price can be advanced, but whether the value of property which they propose to...
Página 10 - ... out how the dispassionate, the almost inhuman, movement of the market has nothing whatever to do with the occasional scandals which disfigure the record of every market for anything anywhere. But the proportion of people who only feel is, to those who think, overwhelming. The former are in such a majority that concession must be made to them, although I still decline to apologize for the stock market. I should as soon think of apologizing for the meridian of Greenwich. To quote one of the best...
Página 4 - ... if we could not bring at least a little of the poet's imagination into it? But unfortunately crises are brought about by too much imagination. What we need are soulless barometers, price indexes and averages to tell us where we are going and what we may expect. The best, because the most impartial, the most remorseless of these barometers, is the recorded average of prices in the stock exchange. With varying constituents and, in earlier years, with a smaller number of securities, but continuously...
Página 257 - If people with either large or small capital would look upon trading in stocks as an attempt to get 12 per cent. per annum on their money instead of 50 per cent. weekly, they would come out a good deal better in the long run. Everybody knows this in its application to his private business, but the man who is prudent and careful in carrying on a store, a factory or a real estate business seems to think that totally different methods should be employed in dealing in stocks. Nothing is further from...
Página 36 - Another method is what is called the theory of double tops. Records of trading show that in many cases when a stock reaches top it will have a moderate decline and then go back again to near the highest figures. If after such a move, the price again recedes, it is liable to decline some distance.
Página 184 - O Vanity of vanities ! How wayward the decrees of Fate are ; How very weak the very wise, How very small the very great are...
Página 257 - In the same article Dow went on to say that the speculator can avoid tying himself up in a financial knot at the outset by keeping his transactions down to a limit which, compared with his capital, leaves his judgment clear and affords ample ability to cut loss after loss short; to double up; to switch to some other stock, and generally to act easily and fearlessly instead of under the constraint which comes from a knowledge that his margin of safety is so small as to leave no room for anything except...

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