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Robert R. Prechter, Jr., CMT

Bob PrechterRobert R Prechter, Jr is founder and president of Elliott Wave International (EWI), the world’s largest independent financial forecasting firm. He has been writing market commentary since 1976. In 1984, Bob set a record in the options division of the U.S. Trading Championship with a real-money trading account. In December 1989, Financial News Network (now CNBC) named him "Guru of the Decade." Bob served for nine years on the national Board of the Market Technicians Association and in 1990-1991 served as its president. During the 1990s, he expanded his firm to provide round-the-clock analysis on global financial markets. Bob has written 13 books on finance, beginning with Elliott Wave Principle in 1978, which predicted a 1920s-style stock market boom. His 2002 title, Conquer the Crash - You Can Survive and Prosper in a Deflationary Crash and Depression, was a New York Times best-seller. In 1999, Bob received the CSTA’s first annual A.J. Frost Memorial Award for Outstanding Contribution to the Development of Technical Analysis. In 2003, Traders Library granted him its Hall of Fame award.

Prechter’s current interest is a new approach to social science, which he outlined in Socionomics—the Science of History and Social Prediction (1999-2003). This two-book set presents a theory of endogenously regulated social mood and its manifestation in social action. In July 2007, The Journal of Behavioral Finance published “The Financial/Economic Dichotomy: A Socionomic Perspective,” a paper by Prechter and his colleague, Dr. Wayne Parker. Prechter has made presentations on his socionomic theory to the London School of Economics, Georgia Tech, MIT, SUNY and academic conferences. He recently created the Socionomics Institute, which is dedicated to explaining socionomics, and he funds the Socionomics Foundation, which supports academic research in the field.

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The Elliott Wave Principle is a detailed description of how financial markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific Elliott wave patterns in price movements. Each pattern has implications regarding the position of the market within its overall progression, past, present and future. The purpose of Elliott Wave International’s market-oriented publications is to outline the progress of markets in terms of the Wave Principle and to educate interested parties in the successful application of the Wave Principle. While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will Elliott Wave International make specific recommendations for any specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice is intended. Investing carries risk of losses, and trading futures or options is especially risky because these instruments are highly leveraged, and traders can lose more than their initial margin funds. Information provided by Elliott Wave International is expressed in good faith, but it is not guaranteed. The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities. Please ask your broker or your advisor to explain all risks to you before making any trading and investing decisions.