Why You Should Subscribe to Dow Theory Forecasts

The Service
Meet Our Team
Performance

The Service

Dow Theory Forecasts is written with the busy reader in mind. You will find a concise, punchy writing style geared for the individual investor who can't afford to waste hours sifting through convoluted and pointless text. Our recommendations are to the point, a "just-the-facts" approach that is well received by our readers. Click here to view sample issue.

Time-Tested Advice

How does one judge an investment service? Certainly, longevity in any business reflects the ability to serve and satisfy the customer, and Dow Theory Forecasts' position as one of the oldest newsletters in the business speaks volumes. Since 1946, Dow Theory Forecasts has been meeting the investment needs of individuals just like you.

How have we managed to stay so successful for so long in a business where the failure rate is so high? By listening to our subscribers. By knowing their needs as individual investors. By providing investment advice that, though not infallible, is unbiased and objective. Indeed, the fact that we receive no commissions from your trades, and profit only if you renew your subscription, puts us in a unique relationship with you.

Market-Timing Guidance

To focus on stock selection without proper guidance concerning the overall market trend would leave out an important component of a successful investment program. The Dow Theory has stood the test of time, having been developed before the turn of the century by Wall Street Journal publisher Charles Dow. And it is still going strong today. The Dow Theory's record of keeping investors on the right side of major market trends is impressive, and the theory is a tool that no serious investor should be without.

Quadrix® - The Science Behind Out Stock-Selection Process

Our proprietary Quadrix® stock-rating system uses more than 90 variables to score stocks in seven categories — Momentum, Quality, Value, Financial Strength, Earnings Estimate, Performance, and Reversion. Click here for an in-depth look at Quadrix.

Stocks cannot be reduced to a series of equations, and no numbers-based ranking system can substitute entirely for individual company analysis. Still, a numerical ranking system like Quadrix can be a great first screen for building portfolios. Because the system uses only quantifiable factors, it allows you to narrow your focus on companies achieving superior results. Similarly, because Quadrix is not influenced by the fear, hope, greed, and other emotions that can cloud the judgment of all investors, the system is an excellent tool for tracking current portfolio holdings.

After Quadrix has narrowed the vast universe, our team of experienced research analysts roll up their sleeves and do the kind of individual company analysis no computer can replace.

Preserve Capital - Focus on Value

Another factor behind our company's success is our investment philosophy. Dow Theory Forecasts believes in the preservation of capital as well as the accumulation of wealth.

You see, the stock market is a place where patience has its rewards. For that reason, Dow Theory Forecasts takes a long-term approach to investing, with our stock ideas on a one-year time horizon or longer. We prefer to focus on high-quality stocks — industry leaders with strong finances, attractive growth records, and market niches that should keep them at the top of their sectors.

Recommendations also focus on income-oriented stocks and investments that are especially vital to investors who need to generate healthy dividends from their stock investments. You will also find more aggressive recommendations for investors who are seeking growth. But the common thread is a concentration on investment value.

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Meet Our Team

Our longevity in the investment-advisory business is not the only factor that sets us apart from the competition. Our depth runs throughout the entire organization, from our experienced research team to our customer-service professionals.

Higher-quality people provide higher-quality advice. That is why Dow Theory Forecasts employs analysts with strong academic and professional backgrounds. Below is some background information on the people responsible for Dow Theory Forecasts.

Editor, Director of Research
Richard Moroney, CFA

First year at company: 1989
Undergraduate Education: B.S. (Journalism/Economics) from Northwestern University, 1989
Graduate Education: M.B.A. (Finance/Accounting) from University of Chicago, 1996
Charted Financial Analyst® designation: granted 1992

Managing Editor, Dow Theory Forecasts
Bob Sweet, CFA

First year at company: 1999
Undergraduate education: B.S. (journalism/English) from Northwestern University, 1991
Chartered Financial Analyst® designation: granted 2003

Contributing Editor
Charles Carlson, CFA
First year at company: 1982
Undergraduate education: B.S. (journalism) from Northwestern University, 1982
Graduate education: M.B.A. (finance) from University of Chicago, 1993
Chartered Financial Analyst® designation: granted 1986

Analyst
David Wright, CFA

First year at company: 1997
Undergraduate education: B.A. (economics) from Indiana University, 1990
Graduate education: M.B.A. (finance) from DePaul University, 1995
Chartered Financial Analyst® designation: granted 2001

Analyst
David Walle, CFA

First year at company: 2008
Undergraduate education: B.A. (English/finance) from Vanderbilt University, 2001
Graduate education: M.A. (journalism) from University of Missouri-Columbia, 2009
Chartered Financial Analyst® designation: granted 2014

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.


Our Performance

Forecasts List Performance
Year
Focus
List
(%)
Buy
List
(%)
LT Buy
List
(%)
S&P 500
Index
(%)
Since 2003†
335.8
387.5
280.9
265.5
2020†
4.7
(0.4)
(1.4)
(0.5)
2019
24.7
30.1
29.7
28.9
2018
(16.8)
(17.9)
(18.5)
(6.2)
2017
28.6
26.1
24.6
19.4
2016
(2.2)
(1.8)
0.7
9.5
2015
(2.7)
(1.6)
(1.4)
(0.7)
2014
22.1
20.2
18.7
11.4
2013
36.0
42.8
42.7
29.6
2012
14.2
16.0
15.8
13.4
2011
(4.8)
(9.1)
(4.2)
0.0
2010
19.5
12.7
10.3
12.8
2009
40.0
37.6
30.6
23.5
2008
(48.8)
(46.3)
(36.5)
(38.5)
2007
22.8
19.2
10.8
3.5
2006
12.9
16.9
9.7
13.6
2005
8.1
13.2
4.1
3.0
2004
17.5
22.4
9.0
9.0
2003
20.2
29.2
24.6
26.4

† Through July 16, 2020.
Notes: Returns are fully invested and exclude dividends and transaction costs.
Buy List and Long-Term Buy List returns reflect target weightings for individual stocks.

Fund Performance
Year
Growth
Portfolio
(%)
Growth
Benchmark
(%)
Conservative
Portfolio
(%)
Conservative
Benchmark
(%)
2020†
(3.5)
(3.6)
(2.2)
(2.3)
2019
26.4
26.7
24.7
24.2
2018
(9.1)
(6.4)
(7.7)
(5.6)
2017
20.5
20.1
18.6
17.9
2016
9.5
10.8
8.8
8.2
2015
(0.3)
0.3
(0.4)
0.6
2014
6.6
7.1
6.5
5.9
2013
29.4
28.1
25.9
19.7
2012
15.3
16.2
14.1
13.3
2011
(3.0)
(2.1)
(0.8)
(0.2)
2010
18.2
13.6
16.0
11.3
2009
32.8
27.5
25.3
22.0
2008
(39.9)
(35.8)
(30.9)
(25.6)
2007
11.3
7.6
9.9
7.8
2006
14.9
17.3
12.4
14.5
2005
11.5
7.6
8.8
6.6
2004
16.7
13.6
13.7
11.5
2003
39.4
31.0
30.6
24.4

† Through July 1, 2020.
Note: Returns reflect target weightings and total returns for individual funds.