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Robert Prechter Review

Analysts and financial commentators generally agree on the sweeping statement that Robert “Bob” Prechter is what he claims to be on his websites  — the “World’s Foremost Elliott Wave Expert in Your Corner.” On this webpage, we will consider Bob Prechter, this completer of the theory Ralph Elliott made famous last century. Here you will learn all about Prechter’s background, accomplishments, and contributions to not only the Elliott Wave theory specifically but also to technical analysis in general. We will also explore the various newsletters, books, DVDs, and subscription service products which Robert Prechter has authored directly over the past five decades of his impressive life’s work.

Robert Prechter Introduction

It was in 1975 that the unassuming Robert Prechter started his soon to be legendary career working as a Technical Market Specialist at Merrill Lynch in their New York-based Market Analysis Department. By 1979, Prechter had started consistently writing and publishing his now-famous newsletter The Elliott Wave Theorist which he continues to this day four decades later. Today he is the Elliott Wave International president, serving as head of the company he founded. He also carries the role of Executive Director for the Socionomics Institute. This group examines social moods and their impacts on the resulting social action, such as the economy and the stock market.

Fortune magazine named Robert Prechterthe champion market forecaster,” while Timer Digest calls him “one of the premier timers in stock market history.” The Securities Institute labeled him “the world leader in Elliott Wave interpretation,” while The New York Times calls him “the nation’s foremost proponent of the Elliott wave method of forecasting.”

As CEO of Elliott Wave International, Robert Prechter also authored what is considered to be the instantly new classic and best selling book on the subject of Elliott Wave, The Elliott Wave Principle and also the best selling Wall Street work Conquer the Crash 2014. Prechter holds the certification of Chartered Market Technician among his various other honors and accolades.

Robert Prechter Background and Contributions

It is not an exaggeration to call Elliott Wave International founder Bob Prechter the mastermind and genius of the modern day interpretation of the Elliott Wave theory. Though he did not invent the theory originally (that distinction belongs to Ralph Nelson Elliott) Prechter is unquestionably the most successful protegee and important disciple of theory founder Elliott.

It was Robert Prechter who radically transformed the technical analysis and Elliott Wave parallel universes back in 1979 when he became the lead co-author of the venerable classic and modern day Bible on the topic of Elliott’s waves— the instant hit classic Elliott Wave Principle: Key to Market Behavior.

Prechter’s legacy making book in the technical analysis Elliott wave field is often referred to as the “Blue Book” of Elliott Wave. This was the book that took the still unfinished theory of Ralph Elliott’s and put form on the skeletal frame of Elliott Wave. Prechter and Frost did more than offer merely a more complete explanation of the wave theory. They also compiled a huge number of better data points and more current statistics than any of Elliott’s original books on the subject ever dreamed of revealing.

The book’s reviewers have consistently called this a substantially more refined and elegant explanation of the Elliott Wave Theory than the one that Ralph Elliott originally disclosed with his first definitive books on the waves’ subject and the ways in which they impact everything in nature from human behavior to the stock markets and other financial markets.

Robert Prechter’s Accomplishments and Awards

Prechter’s has also made major contributions in the fields of newsletters and stock market predictions over the years. His headline newsletter The Elliott Wave Theorist was recognized by The Hulbert Rating Service for having outperformed the broadly based Wilshire 5000 index during a thirteen and a half year period that concluded on the last day of the year in 1993. At the same time, they said that his model portfolio only experienced half of the trading-days exposure to the markets over this more than decade long time frame.

Bob Prechter’s Elliott Wave Theorist similarly was honored with the “Award of Excellence” two times by Hard Money Digest, and was also honored with the title “Timer of the Year” by Timer Digest. Of all the newsletters these services considered, his is the only one which has received such a distinction on two separate occasions.

Mr. Prechter also achieved the historical all-time record at the “United States Trading Championships” when his professionally monitored real money options trading account gained over 444 percent returns. This helped him to earn the coveted “Guru of the Decade” title from the Financial News Network. Prechter also commands the unique distinction of having served in the Market Technicians Association role of president for the twenty-first consecutive year in 1990/1991.

Legendary and genius are appropriate and often-used terms to describe the accomplishments and multi-decade long career of Robert Prechter. His greatest strength to many has been the way that he singlehandedly defined and refined the Elliott Wave Theory by continuously updating the market based knowledge and experiences of the field in updated works and re-released editions of his first book and classic on the subject of Elliott waves. The Twentieth Anniversary Edition of Prechter and Frost’s Elliott Wave Principle earned its place in market analysis history as the ultimate revision version of the timeless classic on Elliott Waves when they updated all of the charts and market data with the anniversary edition.

Robert Prechter’s Elliott Wave International Company and Website

To cap off his career achievements and solidify his place in the world of teaching gurus and mentors, Robert Prechter founded the largest independent technical analysis firm in the world. Elliott Wave International has provided a way for him to educate and serve a global base of clients and followers through his widely followed website elliottwave.com. They employ dozens of individual analysts full time who stay busy publishing content around the clock on all timeframes of the theory, practice, and actual application of Elliott waves.

What sets his website (and company) apart from many others in the space of subscription based, market prediction services and programs is that theirs is mostly an educational site which specializes in practical and free articles, videos, and training. The site earns money through the sale of subscriptions to a variety of proprietary financial forecasting services and Bob’s own newsletters which he continues to write, edit, or oversee in their production even today.

His company site itself provides a wide and extensive range of articles, videos, ebooks, print format books, training courses, and more. A number of them Robert offers for free to his site visitors. Many of the other products Prechter provides in the form of bonuses with his range of different subscription services. Paying customer subscribers obtain unrestricted access to the parts of Prechter’s company website which are members-only restricted areas.

Robert Prechter’s Elliott Wave Products

As you might expect from a man who has single-handedly transformed an entire technical analysis based industry, Robert Prechter has an extensive and impressive array of products that he offers you for your education and edification in the arts and science of technical analysis and Elliott Wave Theory. These are broken down below under the categories of newsletters, books, DVDs, and advisory subscription services.

Robert Prechter Newsletters (Subscription Based)

The Elliott Wave Theorist

The Elliott Wave Theorist has been published by Robert Prechter faithfully and without fail since the year 1979. Without a doubt it is considered to be the longest-lasting and most-trusted publication on the subject of Elliott waves in the history of the world. You get ten pages of Bob’s highly researched, insightful, and thought-provoking commentary you will surely anticipate reading every month. It is designed to help you thrive and prosper in any kind of market scenario or environment.
Global Market Perspective

The Global Market Perspective is a once per month, over 50 pages long PDF format newsletter which Prechter includes with his Global Forecast Service. You get longer term and detailed views of all the major stock markets and economies of the United States, Europe, and Asia-Pacific as well as an analysis of currencies, precious metals, energy markets, and bonds. Prechter throws in his one of a kind insights into cultural and economic trends at no extra charge.

This publication is your blueprint to investment risks and opportunities around the globe with its over 50 pages of actionable intelligence delivered to your email inbox once per month. It specializes in commentary, easy to understand charts, and analyses that will assist you in navigating the upcoming market trends and twists for the next weeks, months, and even years.

Among the over 40 markets this newsletter appraises you of are the following:

  • Stock Indexes
U.S. – DJIA, S&P500, NASDAQ
Europe – DAX, FTSE 100 and 250, CAC-40, AEX, SMI, IBEX 35, S&P-MIB, Dow Jones Euro Stoxx 50, RTS and CECE Overall Traded Index
Asia-Pacific – Nikkei 225, Shanghai Composite, SENSEX, Hang Seng, All Ordinaries, Straits Times Index, KOSPI and TAIEX.
  • Forex Pairs
EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, USDCAD, USDMXN, USDRUB, USDBRL, USDZAR, EURJPY, EURCAD, EURGBP, GBPJPY, NZDUSD and AUDJPY.
  • Interest Rates
U.S. Treasuries, Bund, Bobl, Long Gilt, Euribor, Short Sterling, 10-year Australian Bonds, 10-year JGBs.
  • Commodities
Gold, Silver, Crude Oil, Natural Gas and more.

Robert Prechter Books

Robert Prechter is also a highly respected and well-known author. His books cover a range of subjects starting with economics and running on to sociological behaviors of both individuals and groups. Here are his books listed and pictured below:

  • The Socionomic Theory of Finance
  • Conquer the Crash 2014
  • The Elliott Wave Principle
  • Prechter’s Perspective: Conversations with Bob Prechter, Legendary Market Theorist
  • Beautiful Pictures from the Gallery of Phinance
  • Market Analysis for the New Millennium
  • Pioneering Studies in Socionomics
  • R.N. Elliott’s Masterworks: The Definitive Collection
  • The Elliott Wave Writings of A.J. Frost and Richard Russell
  • The Wave Principle of Human Social Behavior and the New Science of Socionomics
  • The Mania Chronicles: A Real-Time Account of the Great Financial Bubble
  • The Essential Elliott Wave Collection

Robert Prechter DVDs

Bob Prechter has also released half a dozen individual instructional and background videos that he sells on his company’s site. Many of them pertain to trading and predicting markets, though others of them are more educational and topical in nature. Here they are listed and pictured below:

The Socionomic Theory of Finance: An Alternative to EMH and a Foundation for Technical Analysis

by Robert Prechter

$24.95

 

Understanding the Extraordinary Value of the Elliott Wave Model: Lessons in Real-Time Application

by Robert Prechter

$129.00

Trading The Elliott Waves – Winning Strategies For Timing Entry & Exit Moves

by Robert Prechter

$99.00

Robert Prechter at Oxford, Cambridge and Trinity: Offering a New View of Financial and Social Causality

Robert Prechter

$24.95

History’s Hidden Engine

Robert Prechter

$24.95

Toward a New Science of Social Prediction

Robert Prechter

$24.95

Robert Prechter – Elliott Wave International Company Subscription Services

Robert Prechter also has a number of services he sells on his Elliott Wave International company website by way of monthly based subscriptions which you can take either as stand alone products or group them together in bundles that save you money.  Interestingly, he has decided to give you discounts on each subsequent service which you add, so it gets cheaper as you keep ordering. His main product offerings are called “Essentials.” These provide you with three times per week, short term analyses and information along with once per month medium time frame prognoses, and once per month larger macro-economic points of reference and views from Bob Prechter himself.

Every service delivers a specific area of focus. His basic service begins at $59 per month. This concentrates mostly on the markets of the United States. He also has a European-centric subscription service as well as the Asian-Pacific-centric subscription service. If you go for the full package deal, you receive the global subscription service which delivers all three of the other services combined to your email inbox— American, European, and Asia-Pacific focused subscription based newsletters, alerts, and updates. The other services run from $69 per month to as much as $89 per month with the global package service.

Financial Forecast Service

The headline subscription based service offered by Bob and company also proves to be their most popular service. It mostly covers the United States’ topics and stock markets, such as stocks and bonds in the U.S., the American dollar, the precious metals gold and silver, and American market psychology and culture. This service delivers you market newsletters authored or edited by Robert Prechter in the form of the Financial Forecast and The Elliott Wave Theorist, as well as a thrice per week Short Term Update.

This service is offered for $59 per month.

Asia-Pacific Financial Forecast Service

This subscription based service delivers Robert’s in depth take on the important markets of the Asia-Pacific region of the world. This includes the Nikkei 225, Shanghai Composite, ASX200, Hang Seng, SENSEX, S&P Nifty, Straits Times Index, MSCI Taiwan, MSCI Singapore, KOSPI, and TAIEX. Prechter also throws in a few bonuses for this service including e-copies of his groundbreaking Elliott Wave Principle: Key to Market Behavior and his bestselling Conquer the Crash 2014. 

This services comes for $69 per month.

European Financial Forecast Service

With his company’s European Financial Forecast subscription based service, Robert Prechter offers you an alternative view and analysis of the markets in Europe. He deals with both the relevant near term and longer term trends. Analyses on the financial and stock markets in this region include the FTSE 100 and 250, CAC-40, DAX, SMI, AEX, IBEX 35, Dow Jones Euro Stoxx 50, S&P/MIB, CECE Overall Traded Index, RTS, and the Euro currency. It also provides a few good bonuses with the same two bestselling books as with the Asian-Pacific forecasts.

This service also costs $69 per month like its Asia-Pacific counterpart.

Global Forecast Service

Robert Prechter also provides you with the opportunity to read and learn all about the combined three major market regions of the United States, Europe, and Asia Pacific in this convenient and reasonably priced, single subscription based service called the Global Forecast.  Bonuses include the two books provided with the European and Asia-Pacific services and the Discover the Elliott Wave Principle booklet.

This bundle is a comparative bargain with Prechter offering all of the regional services and coverage for only $89 per month.

Pro Services

Professionals who are interested in the range of regions, markets, and timeframes the world markets offer can pick up these services from Prechter and Co. They come with the Elliott Wave Principle book as well as the:

• Streaming Video Basics of the Wave Principle – a 90 minute streaming video presentation which covers all of the basics of the Elliott Wave Principle.

• Streaming Video Counting Waves Correctly – the detailed 42 minute streaming video covering one of the more difficult aspects of Elliott Wave Theory.

The subscription cost of this service varies with the number of markets you choose. Among these are a Currency Pro Service, Stocks Pro Service, Energy Pro Service, Metals Pro Service, and Interest Rate Pro Service. The first selection is $199 per month. A second choice adds $99 more per month, while additional selections are $49 more per month.

You could have all of them for $445 per month.

Besides services like these mentioned above, Robert’s company provides a range of other services which he himself does not narrate or author. Among these are a commodity based service, a variety of pricey instructional courses and classes, a certification program for Elliott Wave Theory masters, and an exhaustive video library subscription service.

Mentor’s Products

Robert Prechter provides a range of Elliott Wave based stock picking products and services for you. These are his:

  • “Elliott Wave Theorist” and “Global Market Perspective” Newsletters
  • 12 Robert Prechter Authored Books
  • 6 Robert Prechter Narrated DVDs
  • Elliott Wave International Company Subscription Based Services