I agree that Prechter gets unfairly made fun of. It's easy to
point at all his wrong calls, but when he gets it right, I hope for
his sake (and those of his subs) that it makes up for all the wrong
calls. As with any system, one has to follow it in its entirety.
Nicholas Nassim Taleb of Black Swan fame for example, has a trading
strategy that may lose a little every year for a decade but when he
wins, it's big enough for 20 years. I don't have the mental
fortitude to trade like this but I cannot fault this strategy if it
works.
Posted by lessarda on 25th of Feb 2011 at 03:25 pm
I really value Grantham, Prechter, Rosenberg, Mauldin, etc.
who really think through markets and the economy. I wish I had
followed them more closely prior to 2008; even though they were
early, they were right and it paid at least to have their big calls
in mind, even if you followed other signals for timing.
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I agree that Prechter gets
Prechter
Posted by Vida on 25th of Feb 2011 at 03:13 pm
I agree that Prechter gets unfairly made fun of. It's easy to point at all his wrong calls, but when he gets it right, I hope for his sake (and those of his subs) that it makes up for all the wrong calls. As with any system, one has to follow it in its entirety. Nicholas Nassim Taleb of Black Swan fame for example, has a trading strategy that may lose a little every year for a decade but when he wins, it's big enough for 20 years. I don't have the mental fortitude to trade like this but I cannot fault this strategy if it works.
Excellent point...
Posted by lessarda on 25th of Feb 2011 at 03:25 pm
I really value Grantham, Prechter, Rosenberg, Mauldin, etc. who really think through markets and the economy. I wish I had followed them more closely prior to 2008; even though they were early, they were right and it paid at least to have their big calls in mind, even if you followed other signals for timing.