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Title: Grandstanding
Review: Robert Prechter, using his Elliott Wave Theory, was a bear through the greatest stock market boom in history. He called the 5 Wave DJIA top in late 1993 before the market really took off.This book is a contrarian signal to the notion that we are about to enter into a deflationary spiral. Prechter is consistently wrong.He is capitalizing on irrational fear instead of market moves. He understands swings between optimism and pessimism, fear and greed. He does not correlate these well to market moves.The world economy expands with population growth. Some periods are better than others and regions perform differently. Downturns can be serious or mild. But they occur with regularity. They end without cataclysmic events so often painted by writers like this.I would rate this book in the category of pulp fiction ratherthan serious financial analysis.
