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9 of 9 people found the following review helpful
5.0 out of 5 stars This book will cause you no financial harm if followed
Let me get this off my chest first: I read every single review here at Amazon before I bought this book and I must say that the negative reviews; or more accurately the nasty ones, lead me to believe that the reviewers did not read the book. I say that because even if Prichter is wrong, and there is no upcoming "Deflationary Depression" and this decade is all blue skies...
Published on Aug. 27 2002 by T. Austin

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4 of 4 people found the following review helpful
2.0 out of 5 stars A poorly argued case, even for market bears.
Mr. Prechter is best known as a popular advocate for the Elliot Wave principle. He continues this school of thought in this book.
The book is divided into two parts. The first part attempts to persuade the reader that the US economy is headed for a deflationary depression. The second part recommends actions to prepare and prosper during a deflationary depression...
Published on May 11 2004 by Orson Wang


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5.0 out of 5 stars Prechter's Easiest to Read and Understand yet..., July 9 2002
By 
I have also followed Prechter for many years and truly believe Elliott Wave Theory has merit. Emotionally driven financial markets are not random, they do follow a pattern (although it is a chaotic one). Although Elliott Wave Theory has merit, making money with it isn't easy, but its the best tool I've found. You must really study it, and have discipline and effective money management skills (read Tharpe for that).
But regarding this book, Prector makes more powerful "fundamental" arguments than I have ever seen him make. You don't have to be an Elliotician or technician to understand and appreciate these arguments. You don't really need to know/learn the Elliott Wave Theory to get a LOT out of this book. He provides some really good answers to the "what do I do with..." questions, and provides many references to research for different investments, products, and services.
Don't approach it as a "get rich quick" book and you won't be disappointed. Its also not an advanced or detailed book on the theory (but he makes plenty of references to those books in this one for those who want to learn more).
For those that really understand Elliott but have never had much to give to the friends and family that they could ever hope to understand, this is the book for them (followed by "Precter's Perspective," but "Conquer..." is much better and current).I think he's already been proven to be right, but it certainly won't be much longer before we know for sure.
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4.0 out of 5 stars Interesting book from a trader's point of view, July 8 2002
By 
Sarafina Barajas (Los Angeles, CA United States) - See all my reviews
As a short-term trader, I found myself compelled to read this book about what I regard as largely macro issues from a technical analysis name. I wasn't disappointed. At worst, it contains many interesting thoughts on the direction of the US economy but on the other hand it could simply be a lot of mental mastrubation. In either case, it made me reflect (which doesn't happen too often folks), so you may have a similarly inspiring experience if you choose to read it too. If you were looking for a simpler how-to on how to avoid the ill-effects of deflationary pressues, you might be better served looking at the 401k Marketbuster. Though Prechter may question the effectiveness of the Fed, I think that the evidence is pretty clear and the 401k MarketBuster takes clear advantage of this principle. But don't get me wrong, Prechter offers lots of interesting information about how to prosper in a deflationary cycle in this book also. So, if you have the time, I encourage you to check this book out, if only for the pure entertainment value.
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4.0 out of 5 stars The second half was excellent. The first half was mediocre., July 6 2002
By 
Daniel W. Forshee (Everett, WA USA) - See all my reviews
(REAL NAME)   
The book is divided into two parts. The first half contains a description of why a deflationary depression is coming. The second and best half provides a how-to guide of how to protect and increase your wealth in a deflationary depression.
Much of the evidence cited in the first half tries to fool the average intelligence reader with weak "technical indicators." For example, Mr. Prechter frequently uses wave theory on the Dow Jones Industrial Average (DJIA) as an economic indicator. The DJIA places about as much weighting on International Paper as Microsoft and more weighting on Eastman Kodak than on Intel. The DJIA is a statistical anomaly that cannot be used to predict the future the way Robert Prechter claims it can. Also, many of the "waves" shown are nothing more than scribbles drawn onto charts after-the-fact and are unconvincing. I recommend Justin Mamis' "When to Sell" as a better book for technical indicator watching.
In the first half of the book, Prechter is much stronger as a social scientist investor than a technical investor. As a psychological investor, Prechter stays very in tune with optimism and pessimism among the general public as well as what the technical factors are telling him.

The second half was very well written. It provides a lot of great tips of what to do IF deflation does come. For example, he provides a good case to stay away from all stocks, all real estate and all but the highest quality bonds during a depression.
The subject of investing in adverse economic environments is rarely mentioned in most investing books, which focus on two to four percent growth ad infinitum. This book sets itself apart by making the bold and courageous prediction that a deflationary depression is a real possibility, and what to do when it arrives.
In conclusion, the second half provides a good guide of how to invest in a deflationary environment. In a deflationary environment, this book could easily provide many hundreds of times its purchase price to a reader in the form increased returns on invested capital. In the first half of the book, the psychological indicators were far more worth reading than the technical ones.
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4.0 out of 5 stars The second half was excellent. The first half was mediocre., July 6 2002
By 
Daniel W. Forshee (Everett, WA USA) - See all my reviews
(REAL NAME)   
The book is divided into two parts. The first part contains a description of why a deflationary depression is coming. The second and best part provides a how-to guide of how to protect and increase your wealth in a deflationary depression.
Much of the evidence cited in the first part tries to fool the average intelligence reader. For example, Mr. Prechter frequently uses the Dow Jones Industrial Average (DJIA) as an economic indicator. The DJIA places about as much weighting on International Paper as Microsoft and more weighting on Eastman Kodak than on Intel. The DJIA is a statistical anomaly that cannot be used to predict the future the way Robert Prechter claims it can. Also, many of the "waves" shown are nothing more than B.S. scribbles drawn onto charts after the fact and are unconvincing.
The second part was very well written. It provides a lot of great tips of what to do IF deflation does come. For example, he provides a good case to stay away from all stocks, all real estate and all but the highest quality bonds during a depression.
In conclusion, the second part provides a good guide of how to invest in a deflationary environment. In a deflationary environment, this book could easily provide many hundreds of times its purchase price to a reader in increased returns. However, the "proof" that a deflationary depression is imminent seemed sensationalistic and based on dubious evidence to this reader.
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5.0 out of 5 stars Read This Book While There's Still Time!, July 1 2002
By 
Timothy L. Bost (Sarasota, FL USA) - See all my reviews
(REAL NAME)   
"How much time is left?"
That's the question that kept ringing through my mind as I finished reading Bob Prechter's new book, Conquer the Crash.
"How much time is left? And how fast can I take appropriate action?"
There's definitely a sense of urgency created in this insightful and wonderfully readable book. While it's not specifically about equities trading or financial astrology, the topics that provide the usual focus for Financial Cycles, it's required reading for market astrologers, active traders, and anyone else who wants to enhance his or her prospects for economic survival in the years ahead.
Prechter, the world's preeminent authority on Elliott Wave theory, makes an extremely convincing argument, not only that we are headed for a major market crash and a widespread depression much bigger than the one 70 years ago, but also that we will experience severe deflation, halting and reversing the inflationary trend that has been a bedrock assumption in virtually all financial planning throughout our lives. He examines market history, social psychology, and the prevailing money myths to create a startlingly clear vision of some pretty scary situations that demand serious attention.
Along the way, he illuminates the workings of the Federal Reserve, assesses the impact of increasing terrorism, examines the outlook for government, and makes suggestions for employers, collectors, and prospective retirees. And while he isn't writing about financial astrology, he does provide vital insights into the workings of economic and social cycles-not only Elliott Wave, but the Kondratieff long wave as well.
That's not to say that this is a technical book written only for seasoned analysts or would-be experts. In fact, the opposite is true. It contains some of the clearest, easiest-to-understand material I've ever read on Elliott Wave. But more importantly, its real charm, and its usefulness, comes from the fact that Bob Prechter is writing for average folks who probably haven't really given much thought to what might happen to the economy in the years ahead. And while some of the insights in Conquer the Crash are scary enough, this isn't really a doom-and-gloom piece. It's chock full of practical tips for specific actions you can and should take right now. You'll find valuable guidance here, not only on how to handle the stock market ("The opportunity to make money on the downside in a deflationary crash can hardly be overstated"), but also on real estate, bonds, insurance, banking, annuities, and precious metals. And the actions Prechter suggests aren't vague generalities-you'll find easy-to-read check lists of the particular things you can do in various situations, plus specific names of financial and research institutions that can provide additional help, along with toll-free phone numbers, URLs, and other contact information.
All at once, Conquer the Crash manages to be gripping, thought-provoking reading, a handy reference book, and a stirring call to personal action. As Prechter notes, he certainly gets into "concerns that most investment counselors view as little different from paranoia. As the old saying goes, I may be paranoid, but that doesn't mean there isn't someone following me. In the final analysis, it is better to be safe and wrong than exposed and wrong."
Robert Prechter deserves a lot of respect for the outstanding work he has done over the years in his analysis of social and economic trends. He never hesitates to define his point of view clearly, and he's never afraid to risk taking a stand. As a result he is one of those truly rare commodities in today's hype-filled age: a genuinely original thinker. Conquer the Crash is a delightful case in point.
If Bob Prechter is right, the only question is how much time is left for you to take appropriate action. And if it turns out that he's wrong, taking the actions he suggests won't endanger your financial security or severely impact your current lifestyle in any negative way. So what have you got to lose? I strongly suggest that you get your hands on a copy of this book, read it, and pay very close attention to what it says.
-Tim Bost, editor, FINANCIAL CYCLES NEWSLETTER
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5.0 out of 5 stars Shows you how to profit from the coming depression., July 1 2002
By 
In his new book, Robert Prechter makes a convincing case that we are heading for a deflationary depression, similar to the environment the U.S. saw in the early 1930's, and Japan has experienced for the last 12 years. Readers are shown how to prepare, and even prosper as this deflationary scenario unfolds. While most will be crushed by the weight of their own mortgage and credit card debt, readers of this book can take advantage of a once in a lifetime investment opportunity.
Prechter's understanding of technical, contrary, and economic analysis is exceptional. According to conventional wisdom of investors, traders, and the so-called "experts" on Wall Street, external events and fundamentals cause psychology and social mood to change. Flying in the face of this conventional wisdom, Prechter maintains that in reality the opposite is true; psychology and social mood cause underlying economic and market conditions to change. Once you view events from this perspective you can successfully anticipate conditions and properly adjust your investment techniques for maximum wealth appreciation and preservation.
Prechter identifies the many ways for readers to profit off the continuing stock market decline. Whether you trade stocks, bonds, commodities, or options you will find valuable advice in this book. It will have a permanent spot on my own bookshelf next to Prechter's earlier classic "At the Crest Of the Tidal Wave". Prechter's advice will surely be used in my own trading.
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5.0 out of 5 stars nice reading, Jan. 7 2003
By 
P. Philipose (dallas) - See all my reviews
(REAL NAME)   
I believe every one who is invested in money should read. Here is why.
I listened to CNN, CNBC, FOOL, CBS and a number of ecconomists
and no one predicted market meltdown . ALL these clowns
were wrong and have no clue about ecconomy. This guy has it.
I dont know if US ecconomy will behave the way he talks. But
with every American having a total ( govt, personal, and corp) debot of 100,000/person. Has anyone thought how this debt will
be paid back? The baby boomers who are into retirement is doing so with so much debt, if they cant pay their debt while they
were healthy and in good ecconomy how they can pay back while
retired? When they die who will pay off the debt? no one.
I am begining to thing Robert Pretcher's analysis is right.
No one will loose money following it. But thinking DOW < 1000. is very hard. But for me thinking DOW < 10,000 in 1999 was ever harder.
Paul
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4.0 out of 5 stars You must be informed, July 28 2002
I have read the Pretcher's book with interest. He has divided his book in two parts. In the first part, he says that in March 2000 we reached the fifth wave of the cycle wich started in 1974. That wave is also the fifth wave of the grand supercycle that started in 1932. According Mr Pretcher we should have a strong correction in the Dow Jones index that can drive us to the previous fourth wave of lesser degre, below 1000 points.
Amazing?, Mr Pretcher has been right until now, one example is that the book is written in March 2002 and he says that we should be going below the september low, something which seem to be unprobable but that has already happened.
The second part of the book tells the actions you must take in order to prosper in the possible crash. Mainly oriented to US people.
I think you don't know whether will happen that way until it happened, but is not a bad idea to be informed.
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1.0 out of 5 stars Grandstanding, Oct. 27 2002
By A Customer
Robert Prechter, using his Elliott Wave Theory, was a bear through the greatest stock market boom in history. He called the 5 Wave DJIA top in late 1993 before the market really took off.
This book is a contrarian signal to the notion that we are about to enter into a deflationary spiral. Prechter is consistently wrong.
He is capitalizing on irrational fear instead of market moves. He understands swings between optimism and pessimism, fear and greed. He does not correlate these well to market moves.
The world economy expands with population growth. Some periods are better than others and regions perform differently. Downturns can be serious or mild. But they occur with regularity. They end without cataclysmic events so often painted by writers like this.
I would rate this book in the category of pulp fiction rather
than serious financial analysis.
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3.0 out of 5 stars Too Extreme, Aug. 1 2003
By 
Edster "Edster" (Nashua, NH United States) - See all my reviews
I liked a lot of what the author had to say. Lots of compelling arguments and graphs backed up with some historical facts. Very timely and useful book too.
I didn't like the constant references to wave theory and when the author would just ramble on excessively about doom and gloom. It's a bit over done and could scare the uneducated into doing some foolish things with their money/assets if the author is wrong.
Shilling, on deflation is a much better book with better predictions and more economics/theorie to back up claims that are made. Shilling had the bond rate history and short term rate history that I was looking for, and some other stats that are hard to find.
This is a good book, but take it with a grain of salt, and do additional reading to put the info into perspective. You'll think twice about what the fed does/says after reading this.
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Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression
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