Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Vitas who wrote (27495)	1/11/2002 10:00:53 AM
From: Paul Shread	Read Replies (2) \| Respond to of 52237

Yale used to have a bunch of Cowles stuff on their site, but a lot of the links no longer seem to work. I think you want monograph 3, if you have an econ or business library near you. The Cowles Commission considered indexes before 1870 to be unreliable, because most stocks did not trade for months at a time. Using broad indexes, the bear market seems to have occurred from 1852-1857. But if you use GNP and railroad stocks, you get a different picture. GNP, for example, rose from $2.8 billion in 1852 to $4 billion in 1856, then declined to $3.7b in 1858, rebounded to $3.9b in 1859, and declined to $3.6b in 1861. Railroad stocks seem to have followed the same pattern as GNP, which is one reason Cowles considered them to be more reliable. Don't know about the Albany study.