The Wave Principle of Human Social Behavior and the New Science of Socionomics
Author: Robert R. Prechter
List Price: $39.00
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ISBN: 0932750494
Publisher: New Classics Library (March, 1999)
Sales Rank: 47,193
Average Customer Rating: 5 out of 5
Customer Reviews
Rating: 5 out of 5
Spooky feeling of a breakthrough into the unknown
Imagine you were one of the first people to look through a telescope - and you suddenly found out that the sky was not merely wallpaper. You would have known that the discovery was a breakthrough, but what would happen would be spooky to think about.That's how I feel reading Prechter's book about the new science of Socionomics. The telescope made sense of the jumble of lights in the night sky, as well as strange events like eclipses. The new science of Socionomics makes sense of a huge jumble of information in financial markets as well as strange events like crashes, manias, fads and fashions. The personality of markets and societies is linked directly to how our brains respond to certain types of input.
It is also a book that stirs up the back of your mind - are we really as independant in thinking as we imagine ourselves to be: how strongly are we influenced by the society around us? The book shows frightening evidence that our brains are hard wired to respond immediately to impulses stimulated by the human herd.
Overall, the book is like reading about the first observations from telescopes - it is a spooky glimpse into a world right in front of our faces that we've not understood until now. If you read it thoughtfully, the book will be both unsettling and inspiring in its implications.
Rating: 5 out of 5
Flat Earthers vs: Round Earthers
If you use Elliott Wave in your investment analysis you know it works. If you try to point this out to a non-waver you feel like the round earth advocates must have felt 500 years ago defending their position to the flat earthers. After all it does look flat; and stock charts do just look like a bunch of squiggly lines. After reading this book you begin to understand the science that is at work in Elliott Wave Theory, and believe me, they are not just a bunch of squiggles. Mr. Prechter makes his case brilliantly.
Rating: 5 out of 5
Incredible book!
As someone who is extremely interested in how the brain works and why we 'do what we do', as "rational" human beings, I found this book to be extremely compelling. I simply could not put it down. Prechter takes a huge compilation of material (from neuroscience, psychology, fractal anaylsis to technical stock market analysis) and boils it down into a beautifully written and fascinating look at how our mind and society is shaped and guided by an underlying mathematical pattern that is the foundation for all living systems. We are lead by Prechter through a basic understanding of Ralph N. Elliott's Wave Principle - a technical method of stock market analysis Elliott discovered during the 1930's - and come to find that this pattern is fractal based, and not only indicates where the NASDAQ is going to go tomorrow, but shows us where we will go as a society!
This book is a must read for anyone studying brain function, psychology, or philosophy AND for the beginning and seasoned trader! I wish I had found this type of information years ago.
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