From Wikipedia, the free encyclopedia. Prechter, Jr. (born 1949) is an American author and stock market analyst, known for his financial forecasts using the Elliott wave principle.Prechter has authored or edited 25 books. He has also published monthly financial commentary in The Elliott Wave Theorist since 1979 and is the founder of Elliott Wave International and New Classics Library. In many ways this book picks up where Frost & Prechter's classic Elliott Wave Principle: Key to Market Behavior left off, which makes it 'required reading' if you want to build a solid foundation in Elliott wave analysis. By Ralph Nelson Elliott and Robert R. Prechter, Jr (editor).
'This is a definitive, excellent book on Elliott, and I recommend it to all who have an interest in the Wave Principle.' — Richard Russell, Dow Theory Letters'Gold and Silver Today wholeheartedly endorses this book. It is the definitive work on a scientific wave theory of human experience. If you are interested in technical or wave analysis, it should be required reading.' — Gold & Silver Today'This book is extremely well done. It is clear, brief and bold.by far the most useful and comprehensive for both the beginner and the veteran.' — William Dilanni, Wellington Mgmt.
An outstanding job.I don't think a better basic handbook of Elliott Wave theory could be written.' Hoppe, Business and Investment Analysis'.A top-drawer reference for serious technical analysts.all the nuts and bolts necessary to do their own Elliott Wave assembly.' — Futures Magazine'Chapter Three is the best description of Fibonacci numbers we've seen in print and that alone is worth the price of the book.' — Janes Dines, The Dines Letter'In a third of a lifetime in this business, this was the first time I really understood Elliott, and this is certainly the first book on Elliott that I could recommend.
All the methods that Prechter has used so successfully are fully described in this book.' — The Professional Investor'Elliott Wave Principle is such an important, fascinating, even mind-bending work, we are convinced that it should be read by and and every serious student of the market, be they fundamentalist or technician, dealing in stocks, bonds or commodities.'
— Market Decisions'Even allowing for minor stumbles, that 1978 prediction must go down as the most remarkable stick market prediction of all time.' Cowan, Monitor Money Review; Recipient of the Technical Analysis Association's Award of Excellence. Is author of several books on the markets and editor of two monthly forecasting publications, The Elliott Wave Theorist and Global Market Perspective. The Hulbert rating service reports that The Theorist exceeded the performance of the Wilshire 5000 over 131/2 year period ending December 31, 1993, while being exposed to market risk only 50% of the time. EWT has won Hard Money Digest's 'Award of Excellence' twice and Timer Digest's 'Timer of the Year' twice, the only newsletter to do so. In 1984, Mr Prechter set an all time record in the United States Trading Championship by returning 444.4% in a monitored real-money options account in the four month contest period.
In December 1989, Financial News Network named him 'Guru of the Decade'. In 1990-1991, Mr Prechter serves as President of the Market Technicians Association in its twenty-first year.Mr Prechter's latest venture is Elliott Wave International, which provides monthly and intraday analysis on stock markets, currencies, interest rates, commodities and social trends to institutional and private investors around the world.Mr. Prechter attended Yale University on a full scholarship and graduated in 1971 with a degree in psychology. He began his career as a Technical Market Specialist with the Merrill Lynch Market Analysis Department in New York, where his original work with the Wave Principle led to a small but loyal following, introduction to A.J. Frost and ultimately this book.A.J. Frost C.F.A., a graduate of Queen's University, Kingston, Ontario, started his career as a legal accountant.
He achieved his objective on being admitted to the Ontario Institute of Chartered Accountants in 1934 and on his call to the Ontario Bar in 1937. In 1959, he was elected a fellow in the Institute for distinguished service to the accountancy profession. He served as Chairman of the National Capital commissions (Canada) for two years and later sat on the bench as a member of the Tax Appeal Board, Tax Review Board and Anti-Inflation Appeal tribunal.
He has handed down many decisions in the field of income tax law. During his career, Mr Frost served on two university councils and the boards of several Canadian corporations.In 1960, Mr.
Frost became a partner of the late Hamilton Bolton, who introduced him ot the Elliott Wave Principle. After Bolton's death in 1967, he wrote two Elliott Wave Supplements for the firm of Bolton-Tremblay, the editors of the Bank Credit Analyst. In 1977, Mr Frost delivered a speech on the Elliott Wave Principle before the Market Technicians Associations. There he met Mr. Prechter, whom he found to have remarkably compatible ideas despite their separation by two generations and national boundary. Frost provided weekly market commentary on Financial New Network and was one of the most frequently requested speakers for meetings of the Canadian Society of Technical Analysts.
(born March 25, 1949) is an and stock, known for his financial forecasts using the. Prechter is an author and co-author of 14 books, and editor of 2 books, and his book Conquer the Crash was a New York Times bestseller in 2002. He also has published monthly financial commentary in the newsletter since 1979, and is the founder of Elliott Wave International and New Classics Library. Prechter served on the board of the for nine years, and as its President in 1990-1991.
In recent years Prechter has supported the study of socionomics, a theory about human social behavior.In 2014 at the IFTA Conference in London Prechter was created a Fellow of the UK Society of Technical Analysts in recognition of his lifetime contributions to Technical Analysis. Contents.Biography Prechter attended and graduated with a degree in psychology in 1971. He became a drummer for his rock band throughout circa early 1970s. His career as an analyst began when he joined as a market technician in 1975, where he learned much about the trade from Merrill's Chief Market Strategist, Robert Farrell (June 1982). There Prechter also learned of and the and was deeply intrigued:So I tracked down R.N. Elliott's original books. They weren't even in the Library of Congress.
But I finally dug around in the New York Public Library and found a catalog card listing a copy of them on microfilm and had photocopies made. I was amazed to find that there was a wealth of information that had been lost to Wall Street.Prechter has also said, 'after I decided to make markets a career, I realized that mass psychology is what they're all about.' Prominence In 1979 Prechter left Merrill Lynch and published the first subscription issue of the Elliott Wave Theorist. The 1970s had been very bullish years in the gold market but mostly bearish for stocks, yet his Elliott wave analysis called for a long-term reversal lower in gold (February 1980) and a long-term 'super bull market underway' in stocks (October 1982). Because these forecasts proved mostly correct—especially for the stock indexes—Prechter's following grew.His visibility increased further after he won the U.S.
Trading Championship in 1984, with a then-record 444% return in a monitored options trading account. He was profiled in many financial and business publications and named 'Guru of the Decade' by the (now ) for the 1980s.Prechter has been forecasting a large-scale bear market, as explained in his book Conquer the Crash. Re-introduces Elliott Much of Prechter's career as a publisher includes his efforts to re-introduce R.N.
Elliott's wave principle to investors. He compiled and republished all of Elliott's available writings, including the 1938 'Wave Principle,' and the 'Interpretive' and 'Forecast' letters (1938–1946). Prechter also published a brief biography of Elliott and the collected Elliott wave writings of the few technicians who practiced wave analysis in the 1950s and 1960s (Charles Collins, Hamilton Bolton, A.J. Frost, Richard Russell).Still, not all the popular exposure to Elliott wave analysis was the result of Prechter's deliberate efforts.
![Elliott Wave Principle By Robert R. Prechter, Jr. Elliott Wave Principle By Robert R. Prechter, Jr.](/uploads/1/2/4/7/124787568/839613331.jpg)
In the few years before and after 1987, media coverage inflated Prechter's 'guru' status to extremes, including the assertion that his forecasts could single-handedly 'cause' the stock market to rise or fall. In the months after in October 1987, subscriptions to Prechter's Elliott Wave Theorist surged to some 20,000. That number declined in the early 1990s (as did the subscription levels of most other financial publishers), though 'Prechter has done more to popularize and spread Elliott's philosophy than anyone else.' Socionomics In 1979, Prechter postulated that social mood drives financial, macroeconomic and political behavior, in contrast to the conventional notion that such events drive social mood. His description of social mood as the driver of cultural trends reached a national audience in a 1985 cover article in. Prechter coined the term 'socionomics' and in 1999 published an exposition of socionomic theory, The Wave Principle of Human Social Behavior.
In 2003, he published an anthology of empirical work in the field, Pioneering Studies in Socionomics.Since then, the premise of the socionomic hypothesis—that social mood drives the character of social events—has gained attention in academic journals, books, the popular press, universities, academic conferences and in research funded by the. The Socionomics Foundation hosts an annual conference each April in Atlanta GA regarding social mood.
The conferences have included presentations from academics, authors and financial professionals such as, and Robert Prechter.Criticism While Prechter has his admirers, he has been criticized by media and pundits for his long term record. For example, The Wall Street Journal ran a page one article in August 1993 with the headline, 'Robert Prechter sees his 3600 on the Dow – But 6 years late,' in reference to Prechter's 1987 forecast for the Dow Jones Industrial Average. Technical analyst David Aronson wrote:The Elliott Wave Principle, as popularly practiced, is not a legitimate theory, but a story, and a compelling one that is eloquently told by Robert Prechter. The account is especially persuasive because EWP has the seemingly remarkable ability to fit any segment of market history down to its most minute fluctuations. I contend this is made possible by the method's loosely defined rules and the ability to postulate a large number of nested waves of varying magnitude.
This gives the Elliott analyst the same freedom and flexibility that allowed pre- astronomers to explain all observed planet movements even though their underlying theory of an Earth-centered universe was wrong., Amazon.com. Best Sellers List. (11 August 2002). 'Book Review'. P. 24.
Chen, James. Essentials of Technical Analysis for Financial Markets. New York: John Wiley and Sons. P. 4. ^ Prechter, Robert R. 'Elliott Wave Theorist'.
Elliott Wave International. Essays include Peter Brandt, April 1991; Anne Crittenden, December 1997; Paul Macrae Montgomery, November 2000; Mark Galasiewski, July 2006.
^. Two volumes: The Wave Principle of Human Social Behavior (1999); Pioneering Studies in Socionomics (2003). Penn, David. (June 2003). Technical Analysis of Stocks & Commodities: 50. Society of Technical Analysts.
Retrieved 2019-01-24. Aitken, Lee (May 11, 1987).
Retrieved November 20, 2016. Krass, Peter (1999). The Book of Investing Wisdom. John Wiley & Sons.
Retrieved November 20, 2016 – via Google Books. ^ McCaffrey Brecht, Kira. (July 2003). Stocks, Futures & Options Magazine. P. 42.
^ Prechter, Robert R. (2004) 1996. Prechter's Perspective.: New Classics Library. P. 6. Lazarovic, Karen. (30 April 1985).
'Elliott-wave technician sees 2d-half blastoff'. New York Post: 36. Shaw, Russell; Landis, David. (9 October 1987).
USA Today: B1. Myerson, Allen R. (October 1985). 'Robert Prechter: From Lake Lanier, He Can See Wall Street Clearly'. Georgia Trend: 26.
Hendrick, Bill. (15 July 1990). 'Unbelievers Don't Worry Prechter'.: H–4. Prechter, Robert R. Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression (2 ed.).
New York: John Wiley and Sons. Check date values in: year=. Wiggins, Phillip H. (7 October 1987). 'Dow Drops a Record 91.55 Points'. New York Times.
Pp. A1. Grimes, Millard. (August 1994). 'Whatever happened to Robert Prechter?' Georgia Trend: 24. Prechter, Robert R.
![Elliott Elliott](/uploads/1/2/4/7/124787568/909046257.jpg)
(August 1979). 'What's Going On?' The Elliott Wave Theorist. Elliott Wave International. Gainesville, GA.
Reprinted in Pioneering Studies (2003). Prechter, Robert R. (9 September 1985). 'Elvis, Frankenstein and Andy Warhol'. Barron's.
Prechter, Robert R. Jr.; Parker, Wayne D. 'The Financial/Economic Dichotomy in Social Behavioral Dynamics: The Socionomic Perspective'. Journal of Behavioral Finance. Retrieved Nov.
19, 2007. Bollen, Johan; Mao, Huina; Zeng, Xiaojun. (March 2011). 'Twitter mood predicts the stock market'. Journal of Computational Science. Retrieved April 24, 2012. Taylor, Richard.
(3 September 2010). 'Mood Swings'. Retrieved April 24, 2012. Casti, John L.
New York: Springer. Malik, Constantin. Ahead of Change: How Crowd Psychology and Cybernetics Transform the Way We Govern. Frankfurt: Campus Verlag. Retrieved May 29, 2012. Moyer, Justin.
(3 February 2012). 'If Romney wants to beat Obama, he should hope the Dow crashes'. Washington Post.
Retrieved May 29, 2012. Krantz, Matt. (17 November 2009). “Could the Pop-Culture Mood Mirror Stock Market Swings?” USA Today.
Retrieved May 14, 2012. Editorial. (7 August 2009). 'Could recession end cannabis ban?' New Scientist. Retrieved May 29, 2012.
Prechter, Robert R. 'Socionomics - Social Mood as the Engine of Social Activity'. Presented at the London School of Economics and Political Science, London, England, 18 March 2004.
Retrieved April 25, 2012. Parker, Wayne D. 'The Socionomic Theory of Finance and the Institution of Social Mood: Pareto and the Sociology of Instinct and Rationalization'. Presented at the Conference of the Association for Heterodox Economics, London, United Kingdom, July 14–16, 2006. Retrieved May 14, 2012.
Lampert, Matt. 'The Central Bank in the Liberal Market Economy: Market Leader or Follower? Recent Comparative Evidence from the U.S. And Australia'. Presented at the Academy of Behavioral Finance Conference, University of California-Los Angeles, Los Angeles, California, September 22, 2011. Retrieved May 29, 2012. Retrieved Nov.
Retrieved April 25, 2012. Retrieved May 6, 2015. Power, William.
(19 August 1993). 'Robert Prechter sees his 3600 on the Dow – But 6 years late'. Aronson, David R. Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals.
New York: John Wiley and Sons. P. 41.References. Essentials of Technical Analysis for Financial Markets by James Chen.
Published by John Wiley and Sons. Socionomics: The Science of History and Social Prediction by Robert Prechter. Published by New Classics Library. Prechter's Perspective by Robert Prechter.
Published by New Classics Library. Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading Signals by David R.
Published by John Wiley and Sons. Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression (2 ed.) by Robert Prechter. Published by John Wiley and Sons. Behavioral Trading: Methods for Measuring Investor Confidence and Expectations by Woody Dorsey. Published by Texere.External links.