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> If "bad calls for the 90's"
> refers to the identification of a cycle top of an economic
> and cultural cycle spanning centuries
It doesn't. Since most of us don't live several centuries, that might be
interesting but hardly useful for trading. Furthermore, until a few
centuries have passed, we won't know how right or wrong he was about
that particular long-term call.
Prechter's "bad calls" refer to his consistently telling his newsletter
subscribers to get short (*right now*, not sometime in the next decade
or two) during the biggest bull market in history. He had a good run in
the early 80's. Then he started believing his own press about how
brilliant he was and went on the mother of all losing streaks which
lasted far longer than his one and only winning streak.
Personally, I don't understand all the fuss about the guy. He didn't
invent Elliott wave, Elliott did. Prechter just repackaged it in a
barely decipherable form and milked it for all it was worth. He made a
helluva lot more selling books and newsletters than he or any of his
disciples did in the market if they followed his recommended trades.
Some might call him a genius. I call him a salesman (as in used car.)
--
Dennis
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