Robert Prechter on King World News | Part 4/4

Elliott Wave International Founder and CEO Robert Prechter appears regularly on Bloomberg television and has been featured on CNBC and media from around the world. Robert Prechter has written 13 books on finance, beginning with Elliott Wave Principle in 1978, which predicted a 1920s-style stock market boom. His 2002 title, Conquer the Crash, predicted the current crisis. Prechters latest interest is a new approach to social science, which he outlined in Socionomics—the Science of History and Social Prediction published in 2003.

Biography of Robert R. Prechter, Jr.

Robert R. Prechter, Jr., CMT, is founder and president of Elliott Wave International, the worlds largest independent financial forecasting firm. He has been writing market commentary since 1976. In 1984, Bob set a record in the options division of the U.S. Trading Championship with a real-money trading account. In December 1989, Financial News Network (now CNBC) named him "Guru of the Decade." Bob served for nine years on the national Board of the Market Technicians Association and in 1990-1991 served as its president. During the 1990s, he expanded his firm to provide round-the-clock analysis on global financial markets. Bob has written 13 books on finance, beginning with Elliott Wave Principle in 1978, which predicted a 1920s-style stock market boom. His 2002 title, Conquer the Crash - You Can Survive and Prosper in a Deflationary Crash and Depression, was a New York Times best-seller. In 1999, Bob received the CSTAs first annual A.J. Frost Memorial Award for Outstanding Contribution to the Development of Technical Analysis. In 2003, Traders Library granted him its Hall of Fame award.

Prechters current interest is a new approach to social science, which he outlined in Socionomics—the Science of History and Social Prediction (1999-2003). This two-book set presents a theory of endogenously regulated social mood and its manifestation in social action. In July 2007, The Journal of Behavioral Finance published The Financial/Economic Dichotomy: A Socionomic Perspective, a paper by Prechter and his colleague, Dr. Wayne Parker. Prechter has made presentations on his socionomic theory to the London School of Economics, Georgia Tech, MIT, SUNY and academic conferences. He recently created the Socionomics Institute, which is dedicated to explaining socionomics, and he funds the Socionomics Foundation, which supports academic research in the field.

Prechter attended Yale on a full scholarship. He is a member of the Shakespeare Fellowship, the Shakespeare Oxford Society and the Triple Nine Society.

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[Juvenal4668]

One problem with herd theory is that it doesn't take account of the fact that there is more than one herd. The Hampton herd that included Fed chairmen, like Greenspan and Bernanke, has little in common with the Wal-Mart-shopper herd. That might account for the delay in the internet bubble crash, predicted by wave theory for a decade earlier than it actually happened.

[edmack4me]

No, they are Keynesian idiots looking for green shoots.

In the 1930s we had the gold standard in the world but now it's cash trash fiat currency backed by nothing and they follow the idiot Keynes who like central banks & big govt and printing money, now digital. The difference between $1 & $100 bill is 2 '00' and so on. Central banks & govts herd resulting in inflation then hyperinflation. Their solution to a drinking problem (aka easy credit) is more even cheaper credit (ie more booze).

[chovbha]

jpandyaraja,

I can understand you pain, but think it this way. FED started printing money on enormous amount in 1987 which it did first time. A lot of economists with sensible knowledge went wrong because they didn't see this happening and didn't include in their estimates (Without FED printing so much money). Now they know how FED will respond, and thats improve chances of them being right.

[jpandyaraja]

hello bob its me again ......bob

people are bleeding to death on your usd

long and s&p short.....what do we do bob?

or is it like 1987 and you will be wrong for

another 13 years like back then..

[BringBackCapitalism]

No, but I believe it. This might be a reason why he's now listening to Bob Prechter.

[jpandyaraja]

you said ..it..sab kuch kismet hai.. !!

[ednan9]

I understand :) - but then again, who says life is fair. Peace

[jpandyaraja]

actually niether of the two.......nor James glassman

( dow 36000) nor marc faber ( world is

ending tomorrow at 12 )..no i did not

fortunately belong to any of these fire

and brimstone or perpetual paradise brigade........what riles me is the outrageous cash this people earn while

thier followers gnash in agony..

[ednan9]

you sound upset. were you burned by listening to Mr. Prechter? are you are follower of abbey joe cohn (the perpetual) bull?

[jpandyaraja]

over the top and mostly wrong.....

for e.g bob managed to be wrong only for 13 years when he kept on being bearish

while the dow went form 1650 in 1987 to

12000 in 2000......but dont worry about dear bob ......he kept on making millions by telling others how to !!!