One of the best documented longer term forecasts was done by Roger Babson and Dr. Alan Andrews' friend and associate George Marechal. Though Marechal’s work is much less known since the bulk of it has remained in private hands and never been made public, there is a book by Garfield Drew, called New Methods for Profit in the Stock Market, which included the following 15 year forecast created and copyrighted in 1933 by George Marechal in order to document its original date.
The top line in the chart is a reproduction of Marechal’s 15 year forecast chart as calculated, drawn and copyrighted by George Marechal in 1933. The bottom line shows the actual Dow Jones Industrials from this same period of 1934-1948 showing the correlation of these 15 years of market data to Marechal’s prediction. As can be seen, much like Gann’s forecast above, Marechal was able to determine the general swings of the stock market for a 15 years period with an amazing degree of accuracy, the greatest degree of distortion occurring only on the shorter term “nosier” level.
Near the end of his career, Dr. Alan Andrews said of his work:
“Marechal, also by mathematical methods of his own, was the first to demonstrate that there is order underlying the so-called random change in price fluctuations. No professor in any prevalent University, no government economist, has ever been able to produce a similar chart showing, as Marechal’s famous chart, copyrighted in advance, what the Dow Jones Industrial Stock Averages would do 15 years ahead. As one of many other examples of this mathematical orderliness regulating the flow of stock prices, the writer received from this remarkable man, now approaching 90, several months before President Nixon’s election, and accurate prognostication of what the DJ Industrial Averages would be the day after Nixon’s election.”
Marechal took the secret of how he produced this chart to the grave with him, though one day the collections of his work may become available for a wider study and analysis. We do know the locations of some of this original work, though we have not as yet been able to obtain the access and rights to reproduce it from the owners, though we will keep trying.