Rating: 
Summary: Not Prechter's Best
Review: This is not Prechter's best work. Although it provides a concise overview of things to come, it does not provide the detail necessary to fully understand and appreciate the Elliott Wave principal. For that you should definitely read Prechter's "Elliott Wave Principal" written in 1978.I am amazed at the negative reviews here. Don't let them deter you from reading this book. By understanding the Elliott Wave principal, you will understand that the emotionality driving these reviews is part and parcel of the social psychology that drives our cycles of boom and bust. Ignore this book at your own peril. For those who so vehemently disagree, read this book again in about two years, then see how you feel.
Rating: 
Summary: Conquer the Crash ( OR Invest and Perish)
Review: This is probably the most important book of Bob Prechter from the standpoint of social service.The first book of Bob in the early's 80s suggested investing in stocks for a multi year profit against the bearish consensus.He was right and the herd was wrong.Now he is suggesting to everyone who would listen to take out the money before it is too late.History should prove him right again and the bullish herd wrong.
This is the one book in the market that has all the arguments necessary why the US ( and many other Global markets ) must decline now to abysmal depths.It bases it's arguments on the internal evidence of market price history ,explains how to interpret that historical data using a non-conventional but more proven method,the Wave Principle, besides studying other relevant economic and financial aspects of the issue.The logic is comprehensive but pointedly simple and sharp and leads you to the ummistakable conclusion that most markets are headed for a catastrophic collapse. Having convinced you of this most probable outcome it then guides you step by step to pull out your money,suggesting avenues for safe keeping if you are not a market trader who knows how to play a bear market.
This is probably the first book ever compiled as a Financial Guide to protect money from destruction.If by chance you have strayed into the wilderness of the markets then this is the compass to get you out and safe before darkness.
Rating:
Summary: Scary, Meaty, and Easy-to-Read
Review: 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.
Rating: 
Summary: Think Demographics
Review: When I read this book I was completely convinced. I've been out of the market since, much to my chagrin. Despite high debt levels, high asset valuations, etc., things have moved along quite nicely. The 9-11 terror attack, stock scandals, two wars, and the bursting of the internet/tech/telecom bubbles were simply blips, a minor recession within a bull market. Now we are back on track, with job gains and productivity growth. Why? I'd say it's demographics. As the author of The Great Bust Ahead points out, the big-spending 45-54 old demographic will continue to expand until about 2010-2012. Until these folks retire, they will make make lots of money and they will spend it. Then comes the reckoning. When they retire, if they don't transfer a large portion of their wealth to their children, demand will collapse and a depression will likely occur. Prechter will take credit for predicting it, but it will be caused by the most fundamental reason. Elliot Wave analysis offers analysis without much causation. Demographics is a far more common sense reason for ups and downs in the economy. So what to do? Well, I'm getting back into the market, until about 2010, then I'll start shorting it. The debt bomb will explode. The housing bubble will burst. The overvaluation of assets will be corrected. The debasement of the dollar cannot continue indefinitely. But I don't think a depression can occur until the big-spending baby boomers are out of the picture. Then all hell may break loose. And even then, I think the debt problem will cause the Fed to inflate in order to pay off debt and pay Social Security beneficiaries with devalued dollars. There is no political will to cut benefits, so we have to pay entitlements will a devalued currency. Thus, inflation, not deflation. Whatever.
Rating:
Summary: A Year After Publication, Prechter's Batting Close to 1.000
Review: While Robert Prechter is best known for his work on the Elliot Wave Theory, his argument that the economy will get much worse before it gets better depends very little on the wave theory. The book uses several different arguments backed up with lots of graphs to explain where we are and how we got here. I have a BS in Economics and I like to think a built-in "BS" detector as well. Indeed, I came to this book very skeptical that it was just another book playing on the public's stock-market jitters. Well, it's been a year since the book came out. The S&P YTD is flat, even with its recent war rally; and it's down 20%+ for the past 52 weeks. We have a war on our hands, the public is hotly divided politically, and protestors are in the streets (I'm writing this from San Francisco's financial district). The Federal Reserve is just about out of options (despite Alan's claims to the contrary). So, if Prechter's not quite batting 1.000, he's still knocking an awful lot of pitches out of the park. Everyday it seems, the Wall Street Journal and New York Times carry economic and business news that confirm many of his forecasts. Things may not become as bad as Prechter forecasts, but it's always prudent to prepare for the worst. The book seems to address two separate audiences: the working stiff whose job is iffy, his mortgage behind and who's buried in debt; and the well-heeled who have the means to plunk down $100k on platinum bars or invest in funds which have a $250k initial investment. There is something here for everyone, whatever your situation may be.
Rating:
Summary: Excellent Despite Itself
Review: You don't have to believe wave theory to get a lot out of this book. In fact I think the theory is bogus as are all theories that try to turn social relations into patterns. However, the information and analysis behind the theory is strong enough to surpass that particular weakness. Read the book. Don't believe it but start tuning into the weak growth, economic failures, and general downtrend of the system and judge for yourself. Pretcher is not talking about something that is hidden or obscure, it's happening right there in front of our eyes.
Rating:
Summary: IS IT OVER, OR WILL THE MARKETS HAVE ONE FINAL LEG UP?
Review: _____________________________________________________________________________ FINAL LEG, FIFTH AND FINAL WAVE, BLOW-OFF TOP . . . All of these terms mean the same and imply, if the stock markets keep going up from here, that the bull market that started in 1982 may not quite be finished, that Prechter's book may be somewhat premature and that the "recession" of the past few years might end up merely being the bull's 'wave four' correction (the correcting 'wave two' having been the '87 crash) - rather than the beginning of the devastating bear market that will ensue after it's all over. This is the $64,000 question and the answer, if positive, would provide yet a little more time to prepare - BUT DON'T COUNT ON IT YET . . . . . IF YOU HAVE YOUR DOUBTS ABOUT PRECHTER'S ECONOMIC/POLITICAL/SOCIAL PREDICTIONS IN THIS BOOK, THINGS SHOULD ALL BE COMING INTO SHARP FOCUS VERY SOON NOW. The U.S. economy and its stock markets should soon start going down in a very big way - sometime this year - according to his analysis . . . and any seemingly good economic numbers (unconfirmed by things such as unemployment and person debt data) would be the contrary indicators accompanying it as it begins its downward slide. If the current "bear market rally" in stocks takes its final breath and a fall begins, taking all indexes to "new post 2000 lows," it will show that Prechter and his market timing is right and that the time has passed when anyone, including the FED, can do anything to make a difference due to the inherent power of these large magnitude Elliott waves. If, on the otherhand, after a possible "healthy" correction here (one that doesn't go to new lows), the DJIA goes to a new all-time high (only about 1,000 points from its level as of this review's posting), it would most probably negate Prechter's forcast for a major depression at this time and indicate one last, possibly spectacular, burst of "false" prosperity over the next few years prior to the collapse. IF HIS TIMING IS RIGHT, IS THE TIME TO PREPARE OVER OR ARE THERE STILL THINGS THAT CAN BE DONE? THAT'S WHERE THIS BOOK COMES IN AND THAT'S WHY YOU NEED TO READ IT NOW. Bob Prechter has been premature in his views before, but he's always been honest and stated when such might be the case, as he does in this book - but he's not giving that much of a probability. It's what he refers to as his "alternative count" scenario. Every prudent investor should have an alternate plan just in case his primary plan proves flawed in some way. In the particular case of this book, with its predictions and warnings, a possible flaw could show up pertaining to, not so much the substance, but rather - the timing of the collapse. Timing has always been the most difficult component to get right in any type of financial analysis. This is true in the case of Elliott wave analysis because there are so many unforeseen ways in which the waves can unfold (impulse wave expansions, various and complex corrections, etc. - the fibonacci ratio helps, but nothing is infallible). WHEN IT COMES TO THE ECONOMIC COLLAPSE WHICH IS THE SUBJECT OF THIS BOOK, I CAN ONLY HOPE MR. PRECHTER ISN'T UNDERESTIMATING THE WAVE MAGNITUDE OF THE DOWNTURN WE'RE APPROACHING (whether it comes now or a few years from now). There's really very little way of knowing where we stand in the context of the largest millennial and supermillennial wave counts for example (there just aren't accurate price charts going back that far). If we were going into one of these larger declines it would prove vastly more ominous than even the scenario he's suggesting. Could this be the reason the bull market has gone higher and lasted longer than Prechter's original forcast back in the early 80's? CONQUER THE CRASH is an excellent book and I recommend its reading to anyone with an open mind (I've also found his book AT THE CREST OF THE TIDAL WAVE an excellent thought-provoking book. It contains more detailed information regarding the the extent and possible nature of the coming depression and the state of affairs that will exist on a national and global basis. It also contains many correct and eye-opening calls that have already occurred since its original publication). In the mean time, I hope there's still more time to prepare because I, for one, am still not ready!
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