Product Description

"The forecasts in Conquer the Crash continue to be uncannily accurate. Look out below as the rest become reality." Jim Puplava, host, financialsense.com ————————————

A year after Conquer the Crash published, stock markets around the world fell precipitously. The rebound of the last six months has convinced some that we are leaving the bear market behind and entering a bull market and economic boom. In this expanded and updated Second Edition of the New York Times bestseller, Prechter returns to provide answers as to what lies ahead. He provides updated economic and market analysis, shows you how to take steps to protect, survive, and prosper and asks, contrary to what most market analysts believe, whether the depression is truly at an end? The expanded and updated edition includes a new 50 page supplement plus current Safety Sources. Written by a leading expert on investing in bear markets, this book is a timely and insightful guide for anyone looking to protect and make money in today′s financial markets.

Praise for the first edition:

"...I am saying that this is ′must reading′ for anyone who has even the slightest interest in the stock market and his or her own investing."
Richard Russel, Dow Theory Letters

"Prechter′s understanding of technical, contrary and economic analysis is exceptional"
Lawrence G. MacMillan, The Option Strategist

"All investors imbued with the idea that stocks should be bought and held forever should read this book."
Charlie Minter and Marty Weiner, Comstock Partners, Inc.

"Conquer the Crash provides disciplined investors with a map, compass and survival guide. Don′t leave home without it."
Henry Van der Eb, The P.Q. Wall Forecast

"A compelling exposition of how both the mechanics and the psychology of the business cycle can be encapsulated in market analysis."
Sean Corrigan, Capital–Insight.com

"Prechter knows the facts like few others. Read this forceful argument carefully. It can save you from financial loss."
James R. Cook, President, Investment Rarities

"...required reading for anyone who wants to enhance his or her prospects for the years ahead."
Timothy Bost, Editor, Financial Cycles

Product Details

• Amazon Sales Rank: #216050 in Books
• Published on: 2003-11-21
• Original language: English
• Number of items: 1
• Binding: Paperback
• 352 pages

Amazon.co.uk Review
In Conquer the Crash, Robert Prechter explains why he thinks the boom times are behind us. Based on his interpretation of the Elliott Wave Principle (an idea premised on the notion that mass investor psychology is what really drives markets), Prechter argues that the economy is about to enter into a deflationary depression that few investors are prepared to deal with. In making his case, he assembles an impressive array of data that in essence suggests that the bill for the last 10 years of market excess is about to come due. The second half of the book shows how to avoid becoming "a zombie-eyed victim of the depression" and offers advice on protecting one's assets in a deflationary environment (cash is king). If there's any good news in the future that Prechter sees coming (other than how to avoid it), it's that all-out depressions don't last very long. Conquer the Crash should appeal to all investors, particularly those desperately looking for a safe haven from the uncertainties of today's markets. --Harry C Edwards

Review
"…A must read especially for the discerning investor…" (Malaysian Business, 16 November 2003)

Review
"…A must read especially for the discerning investor…" (Malaysian Business, 16 November 2003)

Customer Reviews

Scary, Meaty, and Easy-to-Read
This review is one of the most difficult I’ve ever written. This book is packed full of useful information, written in language that you don’t have to be a financial analyst to understand. It is aimed at the ordinary person.

The book explains when and how deflation and depression are likely to occur. The book’s thesis is that we are approaching one of those times. The first half of the book is dedicated to WHY deflation and depression are likely to occur soon, while the second half of the book tells you very specifically what you can do about it.

My difficulty in writing this review stems from not being able to say whether or not I agree with his advice. I bought this book sight unseen, just on the author’s name. In the early 1980’s, I was a stockbroker, and remember Precher’s forecasts being quite unpopular in the investment community, yet uncannily accurate. After reading the book, I feel he has said some REALLY important things here, yet still find myself unable to act on the advice. Reading this book has kept me awake at night, worrying, for six months. The jury’s still out…….you’ll have to read his book and decided for yourselves. Nevertheless, I want to make clear that I DO HIGHLY recommend this book, as it gives you a lot of meat to think about, as he really backs up what he is saying.

We're still waiting
Prechter must be thanked for bringing Elliott's Wave Principle to the world and educating a generation of Elliott Wave disciples; but there's a world of difference between being a great theoretician and being a source of well-timed financial advice.

Prechter has been doomy with such reliability, and for so long (1987, 1995, 1998, and 2000 to date) that at SOME point he will be entitled to say "see, I told you so", but no matter how intellectually dazzling his commentary is, the markets do not exist to prove Prechter right and the results of following his trading forecasts (i.e. being monster short of Stocks, Treasury Bonds and Gold) have SO FAR been strongly negative. If the average person followed his advice and sold his house and all his stocks, he would not have experienced financial harm, but instead would have been on the side-lines for the biggest up-moves in stocks and real estate in the whole of human history. So we must tread with caution regarding the timing of Prechter's calls. That's not to say they're valueless, but we must be careful nonetheless.

It's my belief, as a follower of my own home-grown variant of the Wave Principle, that there is SOMETHING to it, but that it has to be used carefully. Further, I believe that if you know the Wave Principle, you know people. And thus, if you know people, you know that SOMEONE out there is going to freak out and short everything they can, and lose themselves a fortune.

The point of this review is therefore not to be negative, but to add some RESPONSIBLE advice that should be be included in this otherwise brilliantly researched and eloquent book. The advice is: read the analysis, note the conclusions but REMEMBER THAT THE "GRAND SUPERCYCLE" IS UNPROVEN AND MAYBE DOES NOT EXIST AT ALL. I would also note that much of his analysis is based on the idea of "mean reversion", i.e. that markets for whatever reason always tend back to some form of average metric. Mean reversion, when it occurs, tends to happen by chance, not compulsion, so also bear in mind that just because things are "out of whack", it doesn't mean they're just about to snap back because you read this book. Perhaps the internet really did change things for good - we certainly don't know for sure one way or the other.

Ultimately the successful practice of the Wave Principle relies very much on the judgement of the analyst, despite perhaps giving the appearance that it is an exact science. There is a big difference between being a responsible analyst and producing horrifying nerve-jangling research. Never forget that Prechter is a superb theoretician and sometimes not a bad analyst, but no more - and note that he has said on the public record that he rarely trades.

This book is probably a "must read", but must be referred to wisely. So don't freak out, don't panic, keep this forecast somewhere in your mind and continue to invest wisely and carefully.

I hope that these words might save some people out there a lot of money.

Conquer the crash
A fairly well written book, would be a good starting point to the Elliott Wave principle. I read the Elliott wave priciple book first and found it hard going. This book does not go as heavey into the technical stuff, and is written in a easier style. I read it purely for to educate myself more on Elliott, but I actually found parts of it fascinating.