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Nina: We've all been there, one time or another. |
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Neal: We've had some major events this century. We had the 1929 stock market crash. In previous centuries we had the "tulip mania" in the 1600s. We had the cycle of the 1890s. This bull market has seemed to fool everybody. |
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Neal: It's even fooled Mr. (Bob) Prechter down there in Georgia, hasn't it? Is he part of the Elliott Wave school? |
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Nina: Bob is probably the foremost of those living who are carrying the Elliott story forward. He has played an enormous role in making Elliott's ideas known to a whole new generation of people in the marketplace. |
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Neal: He seems to get considerable publicity. |
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Nina: He has been wrong at times, there's no doubt about it. He has been the first to admit to that. I would hesitate to try to explain why, because it would be utterly presumptuous of me. What I do know is that Bob sees a very significant change on the horizon. He has been aware of its approach for a very long time. And just like a person standing in a station waiting for the train to come through, you think you see it a lot of times before it actually shows up. The situation is much the same in the markets, in the economy in general; it's sort of an analogy. Bob's been looking for something that he knows is coming, and he has seen early signs of it, but he's been early. It hasn't happened yet. It's possible that it's in progress now. |
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Neal: Right! That's happened many times, even in the 1929 market crash. I'll have to check my history. There |
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