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Robert R. Prechter, Jr. is an American author and stock market analyst, known widely for his financial forecasts using the Elliott wave principle. Prechter has authored or edited 14 books, including Conquer the Crash, a New York Times bestseller. He has also published monthly financial commentary in the Elliott Wave Theorist since 1979. In recent years Prechter has supported the study of socionomics, a theory about the dynamics of human social behavior.
In his youth Prechter became interested in investing through his father. While studying psychology at Yale he was drawn particularly to mass psychology, but before becoming a market technician at Merrill Lynch, he was a drummer in a rock band. While studying the markets he came across the works of Ralph Nelson Elliott, who originated Elliott Wave, a form of market analysis that measures investor psychology in terms of swings from optimism to pessimism.
During the late 1970's and early 1980's, he successfully forecasted an end to the rampant inflation of the time, and the birth of a new bull market. In recent years he has been forecasting a large-scale bear market. Perhaps his most unusual prediction, made in the late 1980's, was about himself, predicting that he would call a stock market top too early.
Among the books he has authored, coauthored, or edited are:
- Elliott Wave Principle: Key to Market Behavior
- The Wave Principle of Human Social Behavior and the New Science of Socionomics
- Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression
Notes
- New York Times, 11 August 2002