At the Crest of the Tidal Wave

By Robert R. Prechter Jr.

Book Overview

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.

• Format: Paperback
• Language: English
• ISBN: 0471979546
• ISBN13: 9780471979548
• Release Date: December 1997
• Publisher: John Wiley & Sons
• Length: 366 Pages
• Weight: 1.24 lbs.
• Dimensions: 0.9" x 6.1" x 9.0"

Customer Reviews

Economic, cultural and financial market analysis

Excellent book written a few years before the beginning of a mega bear market and an unfolding depression. Prechter's prescience from the middle of a bull market is uncanny. The bear market and economic fall out he called for has been unfolding since early 2000, and continues on. If you're a fan of Elliott Wave principle and its uses and implications, or you want an unflinching look at what's coming, this book is a must read.

Don't Wait for the Noise

There was a movie which showed an approaching tidal wave. There was no noise because the wave was travelling faster than the speed of sound. This is the case of the oncoming financial tidal wave of disaster. One can hear the bullish rantings of a stream of advisors, nudging us into a sleeping wonderment of good things to come. The tidal wave is on its way. Prechter has pointed out the various items unfolding before our eyes. He was early in many of the prognostications, but they are surely falling into place. If you read the book, you will surely see how they are unfolding. Your financial health is at stake. The tech wreck was only the beginning. Read on, there is still time, but the book will be out of date in a couple of years.

A must-have roadmap for the years to come.

Welcome to Dow 10,000. So, what's next? Skies the limit, right? Do you know what it means when everyone you know is in the stock market? Have you ever wondered why only the big name stocks have been soaring like rockets for years, while those of most small and medium size companies have languished? Would it surprise you to know that the 15 year rise in bonds has not been a bull market at all, but a BEAR MARKET RALLY? How far must the price of gold fall before it finally reaches "rock bottom"? And finally, what do you think your home will be worth ten years from now? Read this book and you will have an excellent guide to all these questions. Robert Prechter has seen it all. He entered the financial world in the early 1970's, just in time to witness the last true bear market in U.S. stocks. He forecasted the 1982 breakout of the Dow Jones Industrials four years before it occurred. His prediction was widely considered impossible and out of touch with the realities of late 1970's. And importantly, he then predicted that it would blossom into the full blown mania we are seeing today. As the world's foremost practitioner of the Elliott Wave Principle, Mr. Prechter has the long range view required to see just where we are in the "big picture". And although we've been patiently waiting since this book was written (1995), all the pieces are slowly, but surely, falling into place. I've read nearly fifty books on financial markets, many of them considered classics, and I can honestly say that this is one of only two books you'll ever need to own on the subject. The other is "Elliott Wave Principle", by Frost & Prechter.

Everyone in the world should read this book.

I was spellbound from the moment I turned the first page. I have been watching the markets every day since then. I can't say enough about this book. Everyone should read it. Prechter will one day enter the same halls of fame as Issac Newton, Einstein and Freud.

Hindsight/Foresight

I've been reading this book as the Russian economy crashed, commodity prices hit new lows, and the U.S. dollar reached new highs (Aug/98). Spookily and disturbingly to me, these events are predicted!! in Prechter's book written in 95/96. Maybe he is wrong. But after an evening reading his book (and the 'verifying' financial news in the newspaper, I followed his advice and sold all of my stocks! Maybe Prechter is a crazy doomsayer and some of his theories seem off the wall to me. But maybe he is right like a chiropractor is to back pain. You don't have to believe all of the chiro's hocus-pocus about 'alternative medicine' to know he can fix your back better than any medical doctor. Prechter may have a wierd interpretation of common-sense human nature but he sure seems to be getting things right when he describes the state of the world financial markets.