# Prof. Stephen Brown's research on the Dow Theory is featured

1 Faculty News January 22, 2013 ![MarketWatch logo](/sites/default/files/styles/246w/public/assets/images/marketwatch%20logo.jpg?itok=pHUVfozf)>

Excerpt from [MarketWatch](http://articles.marketwatch.com/2013-01-22/commentary/36470991_1_dow-theory-william-peter-hamilton-dow-jones-transportation-average) -- "But there is at least one academic study that found that the Dow Theory has genuine merit. It was conducted in the mid 1990s by three finance professors: Stephen J. Brown of New York University, William Goetzmann of Yale University, and Alok Kumar of the University of Miami."

[Read more](http://articles.marketwatch.com/2013-01-22/commentary/36470991_1_dow-theory-william-peter-hamilton-dow-jones-transportation-average)