Q&A With Robert Prechter: Why Technical Analysis Beats Out Fundamental Analysis
By Elliott Wave International
As the major stock markets turned down in late 2007 and then started to rally in March 2009, many people who believed in fundamental analysis have begun to question its validity.
Famed technical analyst and Elliott wave expert Robert Prechter has long called for the bear market we are now in the midst of. (He views the rally of 2009 to be a bear-market rally not the beginning of a new bull market.) But over the years, his methods of technical analysis have been criticized. Here are his most succinct arguments as to why wave analysis outdoes competing forms of analysis.
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It is odd that he says fundamental analysis is like reading the entrails of a goat when he incorrectly has inisted for 10 years that gold MUST go down because he believes in deflation sigthing economic events and stimuli
ReplyDeletePrechter's been so wrong about so many different periods of the market that it's amazing that he has any subscribers left!
ReplyDeleteThe guy predicted that crude oil wouldn't go any higher than $70 summer before last and he was terribly wrong after the '87 Crash as well as the '90-'93 period.
I know, because I used to subscribe to him.
Never again.