At the Crest of the Tidal Wave: A Forecast for the Great Bear Market - Softcover

Prechter Jr., Robert R.

Softcover

ISBN 10: 0471979546 ISBN 13: 9780471979548

Publisher: John Wiley & Sons, 1997

Synopsis

Combining technical analysis with historical and economic insights, this book tries to warn readers that investments always rise and gives advice on rescue strategies for investors. It also predicts the current trends that could bring major financial collapse in the next few years.

About this title

About the Author

Robert R. Prechter, Jr. is author of several books on the market and editor of two monthly forecasting publications, The Elliott Wave Theorist and Global Market Perspective. During the 1980s, Robert Prechter's market calls were so consistently accurate that in December 1989, Financial News Network named him 'Guru of the Decade'. In 1990-1991 he served as President of the Market Technicians Association. In the 1990s, Mr Prechter has developed Elliott Wave International into a 24-hour analysis and forecasting firm that services institutional and private investors around the world. EWI provides long-term as well as on-line intraday analysis covering stock markets, currencies, interest rates, key commodities and social trends that is available via Bloomberg, Bridge, Dow Jones, DTN, Reuters, and the Internet. 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 City.

From the Back Cover

'The scholarly discipline, ultra long-term historical perspective, and topical diversity of Robert Prechter's discerning At the Crest of the Tidal Wave will challenge all serious investors to re-examine today's "buy and hold" mantra.' - Henry Van der Eb, Chairman, Mathers Fund

'At the Crest of the Tidal Wave is a brilliant and important piece of long wave research with potentially devastating investment implications for the future.' - Paul Tudor Jones II, President, Tudor Investment Corp

'Recently I finished reading for the third time Charles Mackay's classic, Extraordinary Popular Delusions and the Madness of Crowds, first published in 1841. Not much has changed, and here we are at yet another turning point in history... At the Crest of the Tidal Wave probably will join Mackay's famous book as one of the most prescient of the past 175 years.' - Charles Allmon, President, Growth Stock Outlook

'The icy logic and stunning originality with which Prechter predicts the impending death of our Grand Bull Market make At the Crest of the Tidal Wave eminently worthy of attention. But the fact that years ago this same author stood virtually alone in prophesying the birth of this very same bull market renders his current vision absolutely indispensable to serious investors.' - Paul Macrae Montgomery, Legg Mason Wood Walker

'Robert Prechter and R.N. Elliott will be remembered as the two greatest social scientists of this century for their understanding of mass psychology, markets and the economy.' - Donald Evans, President, FX500 Money Management

'There is an old Arab proverb which says that "When you go shopping for wisdom, visit every tent in the bazaar." When Robert Prechter published his first book in 1978 predicting the super bull market of the 1980s, only a very few people visited his tent. I hope more people visit his tent today, in order to understand the financial, economic and social implications of At the Crest of the Tidal Wave.' - Marc Faber, Faber Ltd, Hong Kong Finance/Investment

From the Inside Flap

This book reads like a thriller. It is a financial detective story with a touch of market romance. Just like Elliott Wave Principle, its super-bullish predecessor from 1978, this updated and abridged paperback version of At the Crest of the Tidal Wave presents a scenario that appears too dramatic and specific to be more than unfounded conjecture. However, the author's forecasting tool is again the only one that has proved its value in addressing future market probabilities. The result is social science at its best. If even half of the author's forecasts come to pass, the world of finance just a few years hence will be immeasurably different from what it is today. Using the same precise approach that he employed a month after the 1982 low at Dow 777 to forecast a great bull market that would carry the Dow Industrial Average to near 4000, Robert Prechter now calls for a slow motion economic earthquake that will register 11 on the financial Richter scale. The Great Asset Mania of recent years is in its final euphoric months, he says, and the next event will be a collapse of historic proportion. If you are already well versed in the Wave Principle and prepared for the change that is coming, then ignore this book. If you are not, then devour it cover to cover. Be prepared for a shift in the tectonic plates that make up your mind's notions about financial causality. Above all, get ready for a violent shaking of your faith in conventional economic wisdom.

Edition details

• Publisher: John Wiley & Sons
• Publication date: 1997
• Language: English
• ISBN 10: 0471979546
• ISBN 13: 9780471979548
• Binding: Paperback
• Number of pages: 366