The ABC of Stock SpeculationIn 1884, Charles Dow, the Wall Street Journal's famous first editor, published the first stock market average... and in the years after, he formulated, through his editorials, a wide-ranging economic philosophy that has come to be known as "Dow's Theory." In fact, S.A. Nelson coined the term when he collected Dow's editorials together in this 1902 volume. Topics discussed include: methods of reading the market cutting losses short the danger in overtrading the recurrence of crises the tipster and much more. Dow's observations and Nelson's commentary sound strikingly modern even a century later, and remain vital components of an intelligent understanding of fundamental concepts of the stock market. S. A. NELSON was a reporter for The Wall Street Journal during the early 20th-century. |
Contents
| 9 | |
| 19 | |
| 25 | |
CHAPTER VI | 31 |
CHAPTER VIII | 39 |
CHAPTER X | 46 |
The Danger in Overtrading | 54 |
CHAPTER XV | 69 |
CHAPTER XVIII | 82 |
CHAPTER XXI | 103 |
CHAPTER XXV | 129 |
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Common terms and phrases
active stocks advance amount arbitrage average bank bankers bear market become bonds bought broker bucket shop operator bull campaign bull market buy stocks buyer capital cent chance CHAPTER close Consolidated Exchange customers deal decline dividend Dow's Theory eral Exchange member fact fall firm fluctuations follow gambler gambling guess hold inductive reasoner insiders investment investors judgment large operators loans lose losses short lost lots manipulation margin ment method move movement newspaper panic panics of 1873 particular stock period points pool purchase quotations rally reaction reason rise rule rumors securities sell shares of stock short selling short side small losses sold stock broker Stock Exchange stock market stock speculation stop order successful speculator swings tendency thing ticker tion tipster trade in stocks transactions Union Pacific usually Wall Street wise writer York York Stock Exchange
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Page 16 - Something was to be made, therefore, from the fluctuations to which they were liable. Indeed, one of the greatest Broker firms of subsequent years derived its capital from the lucky speculations of its senior member in this currency. "The war of 1812 gave the first genuine impulse to stock speculation.