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The Wave Principle of Human Social Behavior and the New Science of Socionomics Hardcover – January 1, 2002
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From the Author
The social sciences today are where the physical sciences were three hundred years ago: on the verge of a revolution. Ralph Nelson Elliott discovered that social mood, impelled by an unconscious herding impulse, fluctuates in a recognizable pattern reflecting a natural growth principle, which he called the Wave Principle. Socionomics is the study of these patterns and their effects, i.e., social action and the events of history. Because it has a mathematical base, the Wave Principle is to sociology what Newtons laws were to physics. It provides a basis and framework within which to study and quantify social behavior and thus serves as an anchor for the undertaking of true social science. --This text refers to an alternate Hardcover edition.
About the Author
Robert R. Prechter, Jr. has achieved worldwide fame as an author, investment analyst, businessman and social commentator. In 1978, he co-authored with A.J. Frost Elliott Wave Principle: Key to Market Behavior. The book sold more than 300,000 copies and became a Wall Street Best Seller. Three other books have followed, all of them achieving similar success. In addition to his books, he is the editor of the Elliott Wave Theorist, an award-winning newsletter that has enjoyed immense popularity in its 20 years of publication. In 1984, Prechter disproved any doubters that the Elliott Wave Principle was a window to financial opportunity when he set an all-time record in the United States Trading Championship. Using the Wave Principle as his only method of analysis, he returned 444.4% in a monitored, real-money options account in the four-month contest period. His success did not go unnoticed, and in December 1989, Financial News Network named him, ÂGuru of the Decade.Â A flood of radio, television, and written interviews followed, including the cover of Time Magazine and Fortune. On the heels of this success, he founded Elliott Wave International, a successful technical investment analysis company located near Atlanta, Ga. Now, after years researching and studying the psychology and science behind the Wave Principle, Prechter delves deeper than ever before into the reasons for its existence and its universal implications. In his most recent book, The Wave Principle of Human Social Behavior he formulates his theories into a new branch of science he calls Âsocionomics.Â The book is being hailed as a tremendous success by both general readers and academic scholars.
Top Customer Reviews
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.
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.
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.
Bob Prechter's new book, The Wave Principle of Human Social Behavior, subtitled the New Science of Socionomic([...] may represent his defining contribution to finance. It includes Elliott Wave but delves much further into the frontiers of finance. Investor psychology (the "Psychologicals," as I call them) are subsumed under the larger scale of Sociology (the "Sociologicals?") His book provides new material on Herding and Mood which are the pith of Behavioral Finance.Read more ›
Most Recent Customer Reviews
I was an subscriber of "Elliott Wave International", for a few years.
It all sounds great and logical, however when it came to markets, the markets seemed to do the... Read more
The ability to make sense of the deluge of information, news, analysis, of various protagonists and antagonists(on current trends, political and economic); is perhaps beyond the... Read morePublished on February 12, 2014 by NITIN BATHLA
This book shows a very important study about our behavior and how to increase our gains in all situations using this study. If I had read this book before, my life wasn't the same. Read morePublished on August 24, 2010 by Josenildo
Prechter takes pains to present enough of the science and empirical data to demonstrate the legitimacy of the Wave Principle while also giving simple examples and explanations to... Read morePublished on August 4, 2008 by Awesome Sound
A fascinating look at how groups of individuals act in demonstrable, reproducible patterns, similar to the genesis and movement of hurricanes, plants and other fractal based... Read morePublished on January 20, 2008 by David Hume