24 replies to this topic

[chris]

[quote name='da_cheif' date='May 4 2007, 10:30 AM' post='286584']
......that was one of granvilles favorite quotables......another one of his i like ... "The degree of public stupitity when it comes to the stock market is incredible in its dimensions"......back in the 70.s he gave seminars and used these statements all the time......remember the "bagholder blues"


After all his success in the '70's, Granville became one of the biggest bagholders of all time when he refused to acknowledge the 1982 blastoff. "This is a trap. Institutions never lead."

[SemiBizz]

We'll never see Nasdaq prices that low again in our lifetimes.... April 2000. Who said that?

http://bigcharts.mar...&mocktick=1.gif

Edited by SemiBizz, 04 May 2007 - 12:09 PM.

[da_cheif]

the market was wrong...just as the dow the value line and the nyse and the amex and the nikei........snort

[Jnavin]

Calling out Robert Prechter is like shooting fish in a barrel. The guy did great scholarly work in the early 1980's and then blew it. What I learned from him was tremendous -- he almost singlehandedly brought Fibonacci mathematics to modern technical analysis. I respect Prechter's work and what he brought to the table. It's a darn shame he got so much so wrong as time went on. Taking shots at easy targets takes little talent.

[da_cheif]

[quote name='chris' date='May 4 2007, 12:57 PM' post='286635']
[quote name='da_cheif' date='May 4 2007, 10:30 AM' post='286584']
......that was one of granvilles favorite quotables......another one of his i like ... "The degree of public stupitity when it comes to the stock market is incredible in its dimensions"......back in the 70.s he gave seminars and used these statements all the time......remember the "bagholder blues"


After all his success in the '70's, Granville became one of the biggest bagholders of all time when he refused to acknowledge the 1982 blastoff. "This is a trap. Institutions never lead."


[/quote]


no he wasnt.....he never lifted the bag.....

[SemiBizz]

the market was wrong...just as the dow the value line and the nyse and the amex and the nikei........snort

That's funny the person who made that April 2000 comment (which all record of on the internet has been expunged) said the same thing...



Could it be?

[da_cheif]

"could it be"...yes ...itwas.....the markets gottit all wrong cept for the nyse, amex, value line, sp600....u know the real markets........now the other narrowly based indexes are paying for their misstakes.......watch the sky....snort....

[SemiBizz]

http://www.traders-t...?...st&p=106743

[da_cheif]

yah....and they thought i was fulla ********....even irving fisher......at least they spelled my name right........everybody wants to listen to me.....few gave me any respect... THE IRVING FISHER PHP AWARD "Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels.... I expect to see the stock market a good deal higher within a few months. - Irving Fisher (Ph.D. in economics), Oct. 17, 1929. During the bubble I would periodically identify some of the quotes which I printed in the "Quotes for the Month" section of each issue as candidates for the "Irving Fisher PHP Award", "PHP" for "permanently high plateau" per economist Fisher's unbelievably stupid statement of October 1929. Now that the bubble is (at least temporarily) deflated, I think it's time to look back on these quotes, from a popped-bubble perspective, and make the awards." Irving Fisher PHP Award for 1998. And the candidates are: All the traditional old tools that Wall Street has been following are wrong, out of date, and they do not work. The dividend yield doesn't work and price/earnings ratios don't work. Also, specialist shorting, insider trading, I could go on and on. All on the garbage heap. - Joe Granville (May 1998 issue). The bubble that we saw in Japan is going to happen here. But, of course, that's a long way off. - Don Wolanchuk (May 1998 issue

[SemiBizz]

You just gonna step on Prechter and Granville today or is there anyone else you'd like to smack down? You know the real winners, take Tiger Woods for example never run down their competition, they don't need to punish their enemies.... Winning alone is enough of a reward. What is it that you feel so inadequate about? The market is up... I've listened to interviews by the people you just love to slam they never say one disparaging word about you.

Edited by SemiBizz, 04 May 2007 - 12:53 PM.