But the brash forecast in this new book called for a great bull market. Eighteen months later they published Elliott Wave Principle - Key to Market Behavior. Frost and Prechter met in May of 1977 and became fast friends. His colleagues regarded him as the consummate technical analyst. In a distinguished 20-year career, Frost had likewise made many astonishingly accurate forecasts. Frost was one of the few other financial professionals who used the Wave Principle. Yet his market forecasts were startlingly accurate: Robert Prechter was the young man's name, and he used a method called the Elliott Wave Principle.Ī. The young man had earned a lot of attention in a short time by using a forecasting tool that almost no one had heard of. One of the two men who authored that book was a 26-year-old market analyst working at Merrill Lynch's headquarters on Wall Street. Three decades ago - 1978 - is one of the last times an investment book was written that is worthy of being called classic. That's because so few investment books are classic in the true sense: For years investors keep buying the book, and they keep using the method to make the most of their opportunities. Have any of them given you a successful method for making profits and reducing risks? Is there even one such book that has proven reliable over the years? Alas, most investors would say no. Take a moment to look over your books about investing.
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