Thursday, April 14, 2011

Lousy Track Record for Robert Prechter and Elliott Wave International

Financial analyst Robert Prechter is in the headlines, this time for another look at his 2003 predictions of financial apocalypse. You’d think I’d see eye-to-eye with the guy. He’s pessimistic on the economy and so am I.

The difference is that he’s a permabear who always thinks the world’s about to end. He’s been pessimistic since 2003, and most of the horrible thing’s he’s been predicting have yet to pass. So sure, he may not have gotten killed in the end of 2008 meltdown, but he didn’t have a run up, either.

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