Have you ever wondered to what extent investor confidence and expectations impact stock market prices? In Behavioral Trading, stock market contrarian, Woody Dorsey, gives readers for the first time insight into his highly profitable proprietary market diagnosis techniques. These are often described as market expectations theory, behavioral finance and most commonly contrary opinion analysis. Dorsey's work is followed by major investors and the financial media seeks his macroeconomic perspective that is more than six months ahead of the crowd. For the first time, Woody Dorsey shows how his technique makes behavioral economics practical, accessible and understandable. He has developed his unique insights from his research of financial market probabilities during the past twenty years. Market Semiotics, both the name of Dorsey's company and his technique, is a research philosophy based on the logic of behavioral finance. In an illuminating and amusing fashion, this book offers an original and disciplined perspective that delivers precise forecasts of the market.
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Editorial Reviews
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"On Wall Street, there are many copies, few originals. Woody Dorsey is an original par excellence. Woody Dorsey, a Vermont-based analyst who specializes in contrary opinion says that bullishness on bonds at the October 1998 high was about as extreme as it has been in five years. Dorsey call the upside explosion last month a "deflationary climax," and he contends that it will market the top in the bond market for quite a while."
"There aren't many analysts in the world worth following. Woody Dorsey is an exception. His way of analyzing markets kept you on the right side of the markets at major and at intermediate turning points over the years. I would not like to be on the other side of a trade with Woody Dorsey."
"The proprietary sentiment indices have been of immeasurable value in positioning for major moves in US capital markets. Mr. Dorsey uses the tents of investor psychology to identify specific points in time which correspond to significant extremes in prices. His unique approach is indispensable to all portfolio managers."
"There aren't many analysts in the world worth following. Woody Dorsey is an exception. His way of analyzing markets kept you on the right side of the markets at major and at intermediate turning points over the years. I would not like to be on the other side of a trade with Woody Dorsey."
"The proprietary sentiment indices have been of immeasurable value in positioning for major moves in US capital markets. Mr. Dorsey uses the tents of investor psychology to identify specific points in time which correspond to significant extremes in prices. His unique approach is indispensable to all portfolio managers."
About the Author
Woody Dorsey began publishing market commentary in 1985. His innovations in Market Sentiment Interpretation, Trend Duration Analysis, Trend Duration Analysis, and Transient Investment Themes are part of a nwe system called Triunity Theory. This behavioral approach led him to identify major conceptual extrmes, such as "Fantasia," the deflationary climax in October 1998 and "E*Greed," the dotcom extreme in early 2000. Dorsey lives in Vermont.
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Most Helpful Customer Reviews
14 of 16 people found the following review helpful:
1.0 out of 5 stars
One good concept and a lot of BLA BLA,
By Roberto C. (Jupiter, FL) - See all my reviews
This review is from: Behavioral Trading: Methods for Measuring Investor Confidence and Expectations and Market Trends (Hardcover)
Reader be advised that the author owns a consulting firm that applies Woody's proprietary model in making market forecasts and, needless to say, he's not giving out anything ...Interestingly enough, the author criticizes the use of quantitative models, but later attempts to measure the "mood" of the market to use it in a quantitative model ... ? One more comment: the average reader of business publications expects to find some logic in the style; this is not fiction, and using a "keep the reader guessing what the author REALLY means" is no business reading. Did you take English 101 like the rest of us?
16 of 21 people found the following review helpful:
2.0 out of 5 stars
This book is overpriced.,
By
This review is from: Behavioral Trading: Methods for Measuring Investor Confidence and Expectations and Market Trends (Hardcover)
This book is a tool for the author to market his service. I cannot get much insight nor technique out of this book. John Mauldin's Bull's Eye Investing is selling for $17 and it's packed with all the information you need about investing. For trading, I would turn to the all time classic: Reminiscences of a Stock Operator. Human behavior hasn't changed much in the past century.
20 of 27 people found the following review helpful:
5.0 out of 5 stars
Excellent Insight,
By A Customer
This review is from: Behavioral Trading: Methods for Measuring Investor Confidence and Expectations and Market Trends (Hardcover)
Top Mutual & Hedge Funds pay Woody's firm Market Semionics thousands for his analysis of the market. This book gives an insider's view of that anaylsis. The firt half of the book makes the case to refute the random walk and efficient market hypothesis. The second half gives insight into understanding the mood, body & mind of the market. Triunity Theory For me the most insightful thing in the book was the discussion on not viewing sentiment in a vaccum. My experience in the markets has often been that high or low sentiment can not be taken without looking at the fundamentals. I found the discussion on Trend Duration also very insightful. Woody Dorsey is an original and an indipendent thinker. I also respect that he has applied his theories and anlysis to statistical testing and has started a hedge fund to manage money based on his theories of behavioral study. Be suspicious of any "market guru" who just writes books, offers no statistical backing of their market edge and doesn't manage money. Woody has made some great market calls and this book is very insightful.
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