Richard’s Wisdom – “Richard’s Thoughts on the Investment Line”
The great Dow Theorist, George Schaefer, wrote his Dow Theory Reports during the period of 1948-1974. Nobody influenced me more in my studies of the stock market and Dow Theory. Before he died in 1974, George Schaefer asked me to carry on his work with Dow Theory.
Schaefer introduced a number of studies, such as short interest, the 50 percent principle and the 200-day moving average in his analysis. But all his efforts were directed at detecting the direction of the primary trend of the market, and keeping investments in harmony with the great primary trend of the market. He was the greatest interpreter of the primary trend that I have ever come across.