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Investment Opportunities - Ralph Nelson Elliot
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OnlyCritiques.com Review:
Ralph Nelson Elliott formulated the Wave Theory, which explained the rational logic behind the movement of stock markets. Ralph Nelson Elliott was a practicing accountant settled in Texas. He held various positions in railroad companies in Latin America. He was an expert at turning around various companies, which were on the brink on financial disaster. In 1920, he moved to New York. In 1926, he published two books, based on his experiences in South America, titled, Tea Room and Cafeteria Management, and the Future of Latin America, describing techniques for the financial reorganization of a country.
Ralph Nelson Elliott also served the U.S. Government on special international assignments. However, a severe bout of gastric ailment forced him to retire in 1929, at the age of 58.During this time he started analyzing in minute detail the stock market trends of various indices over the past seventy-five years. From this comprehensive study, Ralph Nelson Elliott compiled his observations into the Wave Theory to explain the cyclic nature of stock market movements. According to this study first published in 1938, the wave like movement of the stock market is a result of wave impulse occurring frequently in all socio-economic activity. The theory postulates that the stock market follows a combination of five waves up and three waves down to form a cycle, by conducting a detailed study, Ralph Elliot was able to identify wave patterns in the stock market movements. He used these to make prediction about future market movements. This theory can be used to predict market behavior for the short-term as well as the long-term.
In 1939, Ralph Elliot wrote a series of twelve articles explaining his theory. Subsequently he published a series of Educational Bulletins; the most famous among these was Nature's Law -- The Secret of the Universe. Ralph Elliot was one of the most distinguished analysts of his time. Even today, his work is an invaluable tool for investment managers dabbling in equities.
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