Dow Theory Today (Fraser Publishing Library) (The Contrary Opinion Library) [Paperback]

Richard Russell (Author)

Book Description

Publication Date: September 1, 1997 | Series: The Contrary Opinion Library

A collection of 12 articles written for Barron's between 1958 and 1960, this book was first published in 1961. Some of the articles pertain to general Dow Theory or to market history as interpreted under Dow's Theory.

Product Details

• Paperback: 119 pages
• Publisher: Fraser Publishing Co. (September 1, 1997)
• Language: English
• ISBN-10: 0870340611
• ISBN-13: 978-0870340611
• Product Dimensions: 7.8 x 5.3 x 0.4 inches
• Shipping Weight: 2.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (6 customer reviews)
• Amazon Best Sellers Rank: #673,956 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

21 of 21 people found the following review helpful:

4.0 out of 5 stars A vital book for investors, October 24, 2001

By 

Charles Pettis "Chuck" (Freeland, WA USA) - See all my reviews
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This review is from: Dow Theory Today (Fraser Publishing Library) (The Contrary Opinion Library) (Paperback)

The percentage of people investing in the stock market is at an historical high, yet few people understand that the markets rise and fall in definite patterns. These patterns are explained by Dow Theory, devised by Charles H. Dow who was the founder of the still famous Dow averages. The leading Dow Theory practitioner of today is Richard Russell (...). Richard Russell wrote this little book in 1961 about the stock market from 1958-1960. His commentary about this period in stock market history is directly applicable to today's stock market situation. This book teaches the difference between a bull and bear market, proven over a century of stock market statistics.

17 of 18 people found the following review helpful:

5.0 out of 5 stars Good introduction to Dow's Theory, July 18, 2005

By 

Michael K. Goode (United States) - See all my reviews
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This review is from: Dow Theory Today (Fraser Publishing Library) (The Contrary Opinion Library) (Paperback)

Richard Russell is one of the few 'old fogeys' (as Mark Hulbert likes to say) still analyzing the market who went through the last market top and then the 70s bear market. This book is a collection of a series of articles Russell wrote between 1958 and 1960, in which he successfully predicted that in 1958 the bull was still alive, and in 1960, that the bear market had started. This is a small book, concise, and is a good introduction to Dow's Theory--a method for timing the markets.

Russell is still writing (http://www.dowtheoryletters.com) on the market. He is often dismissed as a perma-bear these days (he has been consistently bearish from 1999 till now, 2005, and says that the bull market of the last two years was only a temporary correction of a huge secular bear market), but seeing his earlier courageous call of the bull market continuation in 1958 is one reason I pay attention to him, and to the Dow Theory in general.

For those who haven't heard of it, Charles Dow came up with a method for timing the markets. His successor at the Wall Street Journal, William Peter Hamilton, revised this method, and since then it has changed little. Unless you are a masochist, avoid Hamilton's book. Robert Rhea was another Dow Theorist and his book is another one that might be of interest. The key to Dow Theory is watching the movement of the stock averages, and everything that is useful will be reflected in those movements--knowledge of business, investor psychology, etc. The key is also values--stocks will tend to return to their average historical values (but always overshoot, going from undervalued to overvalued, and vice-versa). Anyway, for more info, read the book.

6 of 6 people found the following review helpful:

5.0 out of 5 stars Helps You Understand Trends, Tops and Bottoms, July 8, 2004

By 

David Rankin (Ashland, Ky. United States) - See all my reviews
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This review is from: Dow Theory Today (Fraser Publishing Library) (The Contrary Opinion Library) (Paperback)

While most investment books cover the importance of trends, this book actually gives you an understanding of the motion of trends and the influence of the larger market represented by the Dow Jones Industrials and Transports.