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Type of bind: Hardcover
Dewey Decimal Number: 332.6
EAN num: 9780932750518
ISBN number: 0932750516
Label: New Classics Library
Manufacturer: New Classics Library
Quantity: 1
Page Count: 520
Printing Date: 2002-12
Publishing house: New Classics Library
Sale Popularity Level: 457682
Studio: New Classics Library
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Editor's Notes and Comments:
Product Description:
At the Crest of the Tidal Wave: A Forecast for the Great Bear Market presents overwhelming evidence for a historic turn a turn that will cause catastrophic loss to the unprepared and great rewards to the prepared. The Year 2000 edition includes over 50 pages of charts updating this volume through December 2000.
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Rated by buyers 
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If you go to the list showing all of my reviews, you will see that I have read quite a few books about the stock market and trading in general. While I have encountered information that talked in generalities about the Elliott Wave Principle, I had never delved into it in much detail as I never felt the methodology was consistent. Having trudged my way through this book, I have come to the conclusion that either (1) I am too stupid to be able to understand and trade based on the EWP (an admittedly distinct possibility), or (2) I have never read so much after-the-fact 'curve fitting' in my life. If you are a student and believer in the Elliott Wave Principle, this will be like adding a second Bible to your collection. If, however, you don't already know and understand the EWP, and unless you are a genius, plan on spending years trying to understand the theory before you will be able to implement it into your trading system. Sorry, Mr. Prechter, but I just don't get it.
Rated by buyers 
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I bought this book used about three years ago. Although I was skeptical of it's contents, since the title seemed dated, I picked it up because it was cheap. It was one of the best buys I've made.
Although I did not read the entire book, the portions I did read (chapters 9-12 about investor psychology) were timeless and made the book well worth the buy. Those chapters are highly recommended reading for contrarians. I'll quote among my favorite lines: "They show that people view stocks as being less risky than treasury bills. Indeed, article after article refers to the "risk of missing gains" as being more important than the risk of loss. This is an optimism so extreme that it has not been seen in the West for nearly three centuries." (p154); "The public is always trading oriented in the early stages of a bull market, and "investment" oriented at the top. - One-Way Pockets 1917 (189); "No top-heavy market with public involvement fails in the end to punish the average investor for his gullibility." (190); "All investment is speculation, and there is no more risky speculation than one that is confidently viewed by a majority of portfolio managers and the public as an investment." (414).
I gave four stars because Prechter's timing of the coming crisis was way off and his predictions sounded extreme, for example: chapter 21, page 431, "... secessionist movement will take place in many countries, including the US ...one or both current political parties will dissapear ...unemployment will reach 30%."
Overall I highly recommend this book. Tidal Wave is easy to read and follow.
Rated by buyers 
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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.
Rated by buyers -
This book is a must read for financial survival. Prechter has an engaging writing style. His opinions are often outrageous and sometimes too extreme. This value of this book is in that it is so different from the conventional financial press.
Almost alone Prechter predicted the great bull market back in 1979. He then called the top prematurely but at least he did warn this readers that a top was coming. The scope of Prechter's vision is awesome. He has charts with trendlines going back to 1700 with projections for the subsequent century.
Chapter 11 "Manifestations of Investor Psychology" is very powerful.
Rated by buyers 
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Having read this book, as well as Ravi Batra's "Crash of the Millenium" and James Dale Davidson's "The Sovereign Individual", I can't help but point out that these are the same people that were telling us to expect a U.S.economic/financial market collapse throughout the '90s(see: "Blood in the Streets" and "The Great Reckoning" by Davidson/Rees-Mogg, "The Great Depression of 1990" by Batra, and Prechter's newsletters/special reports from that period). Obviously, they turned out to be just a tad off the mark. After a peruse of this material, have a look at one of Harry Dent's books for a look at the baby boom spending wave that continues through the latter half of this decade (Dent points out on his website that the current economic dip we are in is similar to the one that took place between 1920-1922, before the Roaring 20's market took off). The only way that the kind of boom the Spending Wave projects can ever take place would be if the majority are looking in the wrong direction. Material such as this book from Prechter, as well as Batra and Davidson, will do very nicely.
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