Just like Elliot Wave Principle, its super-bullish predecessor from 1978, this updated and abridged paperback version of At the Crest of the Tidal Wave presents a scenario that appears too dramatic and specific to be more than unfounded conjecture. However, the author's forecasting toll is again the only one that has proved its value in addressing future market probabilities. The result is social science at its best. If even half of the author's forecasts come to pass, the world of finance just a few years hence will be immeasurably different from what it is today. Using the same precise approach that he employed a month after the 1982 low at Dow 777 to forecast a great bull market that would carry the Dow Industrial Average to near 4000, Robert Prechter now calls for slow motion economic earthquake that will register 11 on the financial Richter scale. The Great Assert Mania of recent years is in its final euphoric months, he says, and the next event will be a collapse of historic proportion. If you are already well versed in the Wave Principle and prepared for the change that is coming, then ignore this book. If you are not, then devour it cover from cover. Be prepared for a shift in the tectonic plates that make up your mind's notions about financial causality. Above all, get ready for a violent shaking of your faith in conventional economic wisdom.

Author Biography

Robert R. Prechter, Jr. is author of several books on the market and editor of two monthly forecasting publications, The Elliott Wave Theorist and Global Market Perspective. During the 1980s, Robert Prechter's market calls were so consistently accurate that in December 1989, Financial News Network named him 'Guru of the Decade'. In 1990-1991 he served as President of the Market Technicians Association. In the 1990s, Mr Prechter has developed Elliott Wave International into a 24-hour analysis and forecasting firm that services institutional and private investors around the world. EWI provides long-term as well as on-line intraday analysis covering stock markets, currencies, interest rates, key commodities and social trends that is available via Bloomberg, Bridge, Dow Jones, DTN, Reuters, and the Internet. Mr. Prechter attended Yale University on a full scholarship and graduated in 1971 with a degree in psychology. He began his career as a Technical Market Specialist with the Merrill Lynch Market Analysis Department in New York City.