Robert Prechter

[AdamA]

Does anyone ever listen to Robert Prechter?  (Not asking if anyone actually trys to follow his advice, just if anyone actually ever listens to him when he's on CNBC or does an interview). 

In as much as I don't think Elliot Wave Theory is predictive of anything, I do sometimes find him to be thoughtful and articulate on issues of the economy.  Is he sincere, or just another guy trying to make a buck selling his newletter (of which, comically, I am a former subscriber). 

Adam

[MediumTex]

He tells good stories.

[LifestyleFreedom]

I find many talking heads and forum posters to be useful in that they force me to think and question my knowledge about how the world works.

Prechter (in small doses) is one of those people.  I'm intrigued by the Elliot Wave Theory concept (i.e., it sounds good in theory, although I'm not sure how useful it is in practice -- it has made some really bad calls over the years).  Prechter, however, comes across as sincere in his belief in the approach, which is why I'm still willing to listen to what he has to say.

But I never blindly follow anyone (including Harry Browne and the posters on this forum).  I make my own decisions and take responsibility for whatever results I get.

[uncle Lou]

Yes, I have listened to him an subscribed just recently to his newsletter. It did me absolutely no good and even some harm.  Actually lots of harm.
 I read Prechter’s book Conquer the Crash published in 2002 where he forecasted the real estate bubble and the mortgage derivatives problems and defaults long before they became reality.  I’d say he got that one right on, and way before the fact.   So that book reeled me in.  And then.... Well you know.... The best laid plans......
 If you look at Guru Grades you will see he has the lowest rating of anyone listed. It seems to be a matter of the amount of time it takes for things to play out.  So some of his forecast are right on and some never seem to play out.
 The Elliot wave patterns only seems obvious in retrospect.  at least to me.
Overall it’s best to ignore such prognostications even if some are accurate.   one never knows if the next one is the nest will will cluck or be still born.

[AdamA]

Yes, I have listened to him an subscribed just recently to his newsletter. It did me absolutely no good and even some harm.  Actually lots of harm.

Well...at least you didn't subscribe to his "become a certified Elliot Wave analyst" program...like at least one other person who posts here regularly.

(I promise I'm not a moron, by the way...it's like Harry Brown said...when it comes to investing, people tend to forget all the things that have made them successful in life and do silly things, like pay strangers for financial "advice").

Having said that, I did enjoy Prechter's newsletter (reading it, not trying to use it to make money). 

[Lone Wolf]

If I had such a poor record, I would be visibly embarrassed, fold up my tent, and flee the country in disguise.

Hilarious but true.  (And I'm speaking generally, by the way, as I am not very familiar with Prechter.)  It's quite entertaining to read Browne dismantle financial fortune-tellers in his "Best-Laid Plans" book.  I think (and hope) that this book permanently inoculated me against the temptation to rely on somebody to predict the future for me.

[Storm]

Robert Prechter's record is so poor that you could almost consistently make a profit by doing the opposite of everything he recommends...