"THERE SEEMS NO REASON WHY THE AVERAGE STUDENT SHOULD NOT REAP THE REWARDS OF SUCCESSFUL STOCK MARKET OPERATION": FIRST EDITION OF SCHABACKER'S MONUMENTAL WORK, STOCK MARKET THEORY AND PRACTICE, 1930, A SPLENDID COPY IN COLORFUL ORIGINAL DUST JACKET

SCHABACKER, Richard W. Stock Market Theory and Practice. New York: B.C. Forbes, (1930). Large octavo, original blue cloth, original dust jacket. $9200.

First edition, first printing of Schabacker's first book, his pioneering 1930 volume on the stock market, with 105 illustrations, charts and diagrams, three folding, including folding frontispiece of the financial district, an especially handsome copy in bright original dust jacket.

Schabacker, the youngest financial editor of Forbes Magazine, fundamentally changed the direction of stock market analysis with this massive volume. "The first to make technical analysis and charting an organized discipline" (Linda Raschke), Schabacker achieved "the finest work ever produced on conventional technical analysis." Stock Market Theory and Practice and his later writings represent "the highest order of analytical quality and incisive technical thought" (Donald Mack). "Schabacker showed how the 'signals' that had been considered important by Dow theorists when they appeared in the Averages were also significant and had the same meanings as when they turned up in the charts of individual stocks. Others, too, had noted these technical patterns. But it was Schabacker who collated, organized and systematized the technical method" (Edwards, Magee, Bassetti, Technical Analysis). "Most prominent among his patterns are the common basic formations indicating a major accumulation (distribution)… Like his patterns, Schabacker's practical advice was deeply rooted in his understanding of the reality of the markets" (Lo & Hasenhodzic, Evolution of Technical Analysis, 95-6). First printing with no printings stated on copyright page. With folding frontispiece map of the Financial District, two folding charts, numerous black-and-white plates and in-text illustrations, along with 12 appendices containing detailed historical records and statistics. Title page with owner inscription, tiny institutional inkstamp. Small hand-numbered shelf number to spine end of cloth.

Book very fresh; a bit of edge-wear to spine of colorful dust jacket. An exceptional copy, rare in this condition.