Synopsis
A Great Classic for Three Decades: Now In Its 10th Edition, Consider What This "Definitive Text" Offers You Take a moment to look over your books about investing. Have any of them given you a successful method for making profits and reducing risks? Is there even one such book that has proven reliable over the years? Alas, most investors would say "no." That's because so few investment books are "classic" in the true sense: For years investors keep buying the book, and they keep using the method to make the most of their opportunities. Three decades years ago -- 1978 -- is one of the last times an investment book was written that is worthy of being called "classic." One of the two men who authored that book was a 26 year-old market analyst working at Merrill Lynch's headquarters on Wall Street. The young man had earned a lot of attention in a short time by using a forecasting tool that almost no one had heard of. Yet his market forecasts were startlingly accurate: Robert Prechter was the young man's name, and he used a method called the "Elliott Wave Principle." A. J. Frost was one of the few other financial professionals who used the Wave Principle. In a distinguished 20-year career, Frost had likewise made many astonishingly accurate forecasts. His colleagues regarded him as the consummate technical analyst. Frost and Prechter met in May of 1977 and became fast friends. Eighteen months later, they published Elliott Wave Principle - Key to Market Behavior. The Dow Industrials stood at 790. But the brash forecast in this new book called for a Great Bull Market. It became a runaway best seller. Three decades is enough time for investors to deem a book about an investment method as "classic," and surely the jury is in on this one: Elliott Wave Principle is now published in seven languages, and continues to sell thousands of copies every year. In Europe, Asia and the Americas, literally millions of investors worldwide use or recognize the Elliott Wave method for profitable investing. Elliott Wave International is proud to present the 10th edition of this investment classic. It's designed to help the Elliott Wave novice and the veteran practitioner. It's time to consider what this definitive text offers you. Here's a sample of what you'll learn: The basic tenets of Wave Theory: You'll read simple explanations of the terms, and how to identify all 13 waves that can occur in the movement of stock market averages. The rules and guidelines of Wave analysis: You'll learn the basics of counting waves, how to recognize the "right look" of a wave, plus lots of simple steps for applying the rules. The scientific background of the Wave Principle: How you can see it in nature and the universe, in art and mathematics, even in the shape of the human body. Long-term waves: You'll see how the Wave Principle gives history greater meaning, from the fall of the Roman Empire through the Middle Ages into the financial upheavals of the 20th Century. Understanding these monumental trends will help you position yourself for long-term profit and protection. Stocks, commodities and gold: The Wave Principle is your guide to the movements of any financial market. Few pleasures can match the exhilaration you'll feel when a Wave Principle forecast has you in the market when it moves up, or takes you out just before it moves down. Obviously, Elliott Wave Principle - Key to Market Behavior is the perfect companion to Bob Prechter's Elliott Wave Theorist publication. The book is essential reading for you to receive the most from what the Theorist says every month -- in fact, all of EWI's publications continually reference this book.
About the Author
Robert R. Prechter, Jr., CMT, is founder and president of Elliott Wave International. He began his professional career in 1975 as a Technical Market Specialist with the Merrill Lynch Market Analysis Department in New York. Bob has been writing market commentary since 1976. He has been publishing The Elliott Wave Theorist, a monthly forecasting publication, since 1979. 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. He has served on the board of the Foundation for the Study of Cycles and currently serves on the Advisory Panel of the MTA's Educational Foundation. During the 1990s, Bob expanded his firm to provide round-the-clock analysis on global financial markets. He has written 14 books on finance, beginning with Elliott Wave Principle in 1978, which forecast a 1920s-style stock market boom. His 2002 title, Conquer the Crash - You Can Survive and Prosper in a Deflationary Crash and Depression, which predicted the current debt crisis, was a New York Times best-seller. In 1999, Bob received the CSTA's 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. In 2008 and 2010, the Georgia legislature invited Bob to testify before its Joint Economic Committee regarding the state's developing real estate and budget crises. He has been named "one of the premier timers in stock market history" by Timer Digest,"the champion market forecaster" by Fortune magazine, "the world leader in Elliott Wave interpretation" by The Securities Institute, and "the nation's foremost proponent of the Elliott Wave method of forecasting" by The New York Times. Since 1979, when he first addressed the subject, Bob has been exploring socionomics, the study and prediction of social trends in light of the Wave Principle, and its implications for the social sciences. Prechter outlined this new approach to social science 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 1999, he created the Socionomics Institute, of which he is Executive Director. The institute is an independent think-tank whose mission is to develop socionomics as an academic discipline and to promote its commercial application. In 2004, the Socionomics Foundation, a 501(c)3 non-profit organization, was created to provide education and fund scholarly investigation into socionomic theory. In 2007, The Journal of Behavioral Finance published "The Financial/Economic Dichotomy: A Socionomic Perspective," a paper on financial theory by Prechter and his colleague, Dr. Wayne Parker. Prechter has made presentations on socionomic theory to Oxford, Cambridge, Trinity, the London School of Economics, MIT, Georgia Tech, SUNY and academic conferences. He has served as a reviewer for academic journals devoted to economics and finance. Prechter recently created the Socionomics Institute, which is dedicated to explaining, researching and applying socionomics, and he funds the Socionomics Foundation, which supports academic research in the field. Prechter graduated from Yale University in 1971 with a degree in psychology. He served as the 21st president of the Market Technicians Association, and is a member of the Shakespeare Oxford Society and the Triple Nine Society. For more information, visit robertprechter.com.
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