31/03/2011 - Still Enough Time to "Conquer the Crash?"
"If you were fortunate enough to have read the first
edition of Robert Prechter's Conquer the Crash, your money
was safe and sound as stocks, real
estate, commodities and many bonds plummeted."
Conquer the Crash, 2nd edition, (quote
from inside book sleeve)
Still Enough Time to "Conquer the Crash?"
Why a New York Times Bestseller Remains Relevant Now
March 28, 2011
By Elliott Wave International
Latest Site News
The New York Times bestseller Conquer the Crash published in 2002: As the quote above suggests, Bob Prechter advised readers to avoid risky assets and embrace cash and cash equivalents.
But did the 2007-2009 declines represent all of the bear market? And is the "Great Recession" over?
Many financial commentators believe the answer to both questions is "yes." The latest Elliott Wave Theorist reports on attitudes toward the rally of the past two years:
"...sentiment measures today do not indicate caution, skepticism and disbelief but rather multi-year extremes in optimism among five sets of market players: individual investors, futures traders, options traders, newsletter advisors and mutual fund managers."
Regarding the economic outlook, the March Elliott Wave Financial Forecast notes a recent business story headline which reads, "Good Times Ahead." The story quotes a top banker saying, "Businesses have plenty of capital and are starting to expand again."
The same issue of the Financial Forecast also reminded subscribers that the fear of inflation remains widespread:
"When Fed Chairman Ben Bernanke touched on the 'politically volatile subject of inflation' in [recent] Congressional testimony, the blogosphere erupted with proclamations about runaway prices across the board. Here's one sample, 'There can be only one possible result. Inflation of everything we use is going to explode.'"
Yet Robert Prechter has another perspective on market optimism, a business climate "turnaround," and notions of runaway inflation. That is why he updated the second edition of Conquer the Crash to include 188 new pages.
These new pages include "updated lists of banks, insurers and Treasury-only money market funds in the U.S., top-rated for safety."
More than ever, Prechter emphasizes safety. In a word, it's the key to conquering a severe market downturn. Follow the advice about safety in CTC, 2nd edition, and you'll be better prepared for a deflationary depression.
Why not read "8-Lesson: Conquer the Crash Collection"? It's FREE!
Become a member of Club EWI (membership is also free), and you'll have immediate access to "8 Lesson: Conquer the Crash Collection." Just follow this link and you're on your way to financial peace of mind.
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