Who it is for
Readers studying financial history, investment education, and the chapter’s specific subject—Dow Theory, line, distribution—will get the most from this section. It is not suitable as a modern trading or investment checklist.
English reader · Internet Archive item stockmarketbarom00hami
XV. A "Line" and an Example—1914
The Stock Market Barometer. English-only reading by default; switch among English, Chinese, and Spanish, or compare languages side by side.
Chapter summary
This chapter examines XV. A “Line“ and an Example—1914, using the author’s early-twentieth-century investment framework to explain how investors were expected to judge security quality, income, risk, and market conditions. It opens from the chapter’s own discussion: A “LINE“ AND AN EXAMPLE 1914 IN past discussions of the stock market barometer — the record by daily averages of the closing “bid“ prices of a number of selected industrial and railroad stocks, taken in two separate groups to check and confirm each other — emphasis has been laid upon what is called a “line.“ It is needless to say that no inference of value can be drawn from a single day’s trading.
Modern reader note
Read this chapter as historical investment education. The market rules, disclosure practices, securities, commissions, interest-rate conditions, and investor protections around Dow Theory, line, distribution may differ sharply from modern markets.
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