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Give the guy a break - if his predictions began to materialize in
2000, history will show that he was off by about 5 years. Anyone who
has the courage to make forecasts which span three centuries should be
allowed an error margin of a few years. It may be equivalent to
being off by 1 min picking the time of an intraday top.
If you understand Elliott Wave Theory, you understand its benefits as
well as its limitations. Prechter's "bad calls for the 90's" neither
invalidate him nor his method.
Prechter is brilliant, a true scientist and a non-conformist who has
the courage to put his convictions on the line. Mandelbrot is a
desperate plagiarist attempting to rationalize his misdeed.
BAK
you wrote:
>FWIW, my smirk here was nothing personal, rather
>directed @ Mandelbrot who claimed to "discover"
>the fractal nature of the markets. Parts of his
>book look like they were copied from Elliott's
>1930's work or Prechter and Frost's 1970's book.
>That he used Elliott in his 1990's work is fine,
>to not acknowledge where the ideas came from....
>well, it's at least worth a smile.
>BW
>PS: Has Mandelbrot ever traded? For better or worse
>Prechter does have an actual (brief) real time, real money
>track record from circa the early 1980's to go along
>with his consistently bad calls for the 1990's.
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