Robert Prechter On Coming Deflation
Robert Prechter spoke with Fox Business News this week on the threat of deflation to the economy. I have been a reader of Elliott Wave's subscription newsletter for the past three years and their work is phenomenal.
For more with Robert you can listen to a longer audio interview he gave this week with Jim Puplava by clicking here.
For more with Robert you can listen to a longer audio interview he gave this week with Jim Puplava by clicking here.
Prechter in 2010 said Gold could fall 40%. It rose 50%. Why should I believe him now. He tells a good story, but when I go back and look at his various predictions, I simply find him to be wrong too often to take seriously.
ReplyDeleteHe has been wrong about gold and silver, and his predictions on market downturns based on technical analysis are usually very early. The best part of his work is his focus on social mood toward the markets and measuring how optimistic/pessimistic the masses are toward an asset class. He also turned bullish on stocks in February 2009 after being one of the loan pessimistic voices at the top. I have a lot of "inflationists" comments (including mine) here on the site so I like to balance the discussion.
DeleteYes, I do now recall his becoming bullish on stocks in 2009. Thank-you.
ReplyDeleteI was a subscriber to EWI for two years. Since may 2009 I was compelled to avoid this bear market rally. From mid 2010 I was suggested to short market at all might. Since mid 2011 I am no longer subscribed to EWI I went long SSO and do not regret cancelling my membership to B. Prechter market analysis. If I regret anything it will be putting faith in EWI's market take.
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