Robert Prechter is interesting because he emphasizes history, the importance of mass psychology in analyzing market trends, and the big picture. And yes, he has been wrong frequently, but that is partly because he has the courage to be specific in his forecasts and does not use weasel words to give himself an escape hatch in the future. He is worth listening to for preparing for unlikely “black swan” events. However unlikely they may be, they are so catastrophic that we should behave and invest as if they just might happen.
