E. George Schaefer of Indianapolis was a major figure in the history of Dow Theory. Schaefer started his career as a stock broker with Goodbody & Co. He spent many years studying the work of the great Dow Theorists who preceded him.
But Schaefer concentrated his studies on the brilliant and original writings of Charles Dow. Schaefer was a firm believer in VALUES. One of Schaefer's favorite quotes from Dow was, "An investor who will study values and market conditions, and then exercise enough patience for six men, will likely make money in stocks."