C. G. SeldenBesprekingen

History of Financial Advice Collection. George Charles Selden, a former Fellow of Political Economy and Finance at Columbia University, was an early popularizer of Charles H. Dow’s ideas via articles for The Magazine of Wall Street and these two books, which derived from them. Selden acknowledged the long-term influence of “fundamental” factors on stock prices, but stressed the extent to which prices on any given day also reflected the “mood” of the market. As he puts it in Psychology of the Stock Market: “smaller intermediate fluctuations represent changes in the state of the public mind, which may or may not coincide with alterations in basic factors.” In its emphasis on the role of psychological factors that are not strictly “rational” Selden’s ideas have much in common with the recently-popular field of “behavioural economics.”

History of Financial Advice Collection. George Charles Selden, a former Fellow of Political Economy and Finance at Columbia University, was an early popularizer of Charles H. Dow’s ideas via articles for The Magazine of Wall Street and these two books, which derived from them. Selden acknowledged the long-term influence of “fundamental” factors on stock prices, but stressed the extent to which prices on any given day also reflected the “mood” of the market. As he puts it in Psychology of the Stock Market: “smaller intermediate fluctuations represent changes in the state of the public mind, which may or may not coincide with alterations in basic factors.” In its emphasis on the role of psychological factors that are not strictly “rational” Selden’s ideas have much in common with the recently-popular field of “behavioural economics.”