Josh Maher
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Josh Maher in Josh's value investing,

Has the last pure Elliottician left the building?

Pictures like these are showing up where folks are burning the little blue book in their fireplace.  I’ve wanted to do the same over the past 30 years, but realized it’s not the book, theory, or anything else other than my own human nature to want to anticipate the market’s turn, rather than await a confirmation of such turn, that gets me in trouble.  It’s the same reason hundreds of millions of people have died over religious differences over the past 5,000 years, when they are all reading the same words in the Bible and New Testament; “it’s the interpretation, stupid”!  At least is how I rationalize all that bloodshed.  Once Adam and Eve ate from the Tree of Knowledge of Good and Evil, the protective cloak came off our human weaknesses, and we had to accept all our actions.

I’m not equating the blue book with THE BIBLE, but the metaphor has some value, in my humble opinion.  The question remains, has this book, which became so loved prior to the ’87 peak/crash, and so hated afterward, finally now become so hated at this peak, and is awaiting acceptance and popularity at the next trough (massive one expected 2016 +/-1 year)?  We will see.