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Cargando... The Stock Market Barometer (A Marketplace Book)por William Peter Hamilton
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Inscríbete en LibraryThing para averiguar si este libro te gustará. Actualmente no hay Conversaciones sobre este libro. Probably the essential book in explicating the Dow Theory, which curiously enough, was never explicated by its author in one spot, but was the result of numerous editorials in the Wall Street Journal over the course of a number of years. The author, who himself was a Wall Street Journal editorialist, lays it out. He's repetitive in spots, and part of the book veers off into going after government interference in business; furthermore, pockets of the book are of course out of date with the creation of the SEC, which has addressed some of the issues of manipulation and information noted in the book. Still, a definite financial curio. ( ) History of Financial Advice Collection. Crucial to Dow Theory as it was popularized in the 1920s was the idea that a scientific approach to the stock market entailed viewing it as a “barometer” of wider economic conditions. This idea was the key concern of William Peter Hamilton, a protégé of Dow’s, who edited the Wall Street Journal from 1908 until his death in 1929. Hamilton’s The Stock Market Barometer anticipated fully-fledged academic theories of the “efficient market” by several decades in asserting that “the price movement represents the aggregate knowledge of Wall Street and, above all, its aggregate knowledge of coming events.” For Hamilton, the stock market was a “barometer” (rather than a mere “recorder”) because, in discounting “everything everybody knows, hopes, believes, anticipates,” it did not represent “what the condition of business is to-day,” but “what that condition will be months ahead”—a “function of prediction” performed with “almost uncanny accuracy.” sin reseñas | añadir una reseña
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A pioneering classic in Dow Theory. "If you are a serious student of investing, you owe it to yourself to 'go back to the future' and read this book." --Charles B. Carlson, Editor of "Dow Theory Forecast". The Dow Theory is consistently one of the best strategies for understanding and predicting the stock market, and when it is applied as a method of predictable forecast, it is known as the "barometer." This finance classic offers tips and trends that William Hamilton observed over the years in the market, offering a view of market behavior that remains perpetually current. Hamilton, a contemporary of Charles H. Dow, presents a clear and in-depth discussion of the Dow Theory and its explanation of averages and affinity for predictable cycles of panic and prosperity. Provides an analysis of the stock market and its history since 1897. * This book is a springboard upon which current Dow Theory has thrived. * New foreword by Charles Carlson. The late William P. Hamilton originally published The Stock Market Barometer in 1922. Hamilton spent a career in financial journalism and became an editor of The Wall Street Journal. No se han encontrado descripciones de biblioteca. |
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