The Stock Market Barometer (A Marketplace Book) [Paperback]

William Peter Hamilton (Author)

Book Description

Series: A Marketplace Book | Publication Date: March 3, 1998

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.

Editorial Reviews

From the Back Cover

"[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. --This text refers to the Hardcover edition.

About the Author

WILLIAM PETER HAMILTON was an editor of The Wall Street Journal and also wrote for Barron's. He worked closely with Charles H. Dow, founder of the Journal, the Dow Jones Industrial Average, and the Dow Jones financial news service. --This text refers to an alternate Paperback edition.

Product Details

• Paperback: 368 pages
• Publisher: Wiley; 1 edition (March 3, 1998)
• Language: English
• ISBN-10: 0471247642
• ISBN-13: 978-0471247647
• Product Dimensions: 8.5 x 5.5 x 1 inches
• Shipping Weight: 1 pounds (View shipping rates and policies)
• Average Customer Review: 3.2 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #1,437,274 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

15 of 15 people found the following review helpful:

5.0 out of 5 stars Classic elaboration of the Dow Theory, August 1, 2000

By A Customer

Amazon Verified Purchase

This review is from: The Stock Market Barometer (A Marketplace Book) (Paperback)

William Hamilton was the successor (both at the Wall Street Journal and in expounding the Dow Theory) to Charles Dow, and the one who clarified the Dow Theory as most people understand it today. To students of the Dow Theory, and of Wall Street and Investment history in general, this is a must-have volume. Also see works by Robert Rhea.

2 of 3 people found the following review helpful:

2.0 out of 5 stars A confusing book inferior to Rheas book on Dow Theory, February 11, 2010

By 

A. Narvestad "Audun" - See all my reviews
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Amazon Verified Purchase

This review is from: The Stock Market Barometer (A Marketplace Book) (Paperback)

I found the book not so interesting even though this is the book that probably is the first Dow Theory book. I would much rather read Richard Russells The Dow Theory Today or Rheas "The Dow Theory". Both books are much better written.

5.0 out of 5 stars stock market barometer, September 26, 2010

By 

BennyTheBull - See all my reviews

This review is from: 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 (Paperback)

This Book is a must read ,this book is not a novel so you really want to pay attention,but it will be well worth it.
Also you get a better understanding of how markets really work,the author was very clever and really refinded the dow theory.
The author really gets into the developments of markets and what makes them tick, Again this is not for the mental lazy person,and the benifits are timeless. Good Readings