Joe Granville - A Page from the Past
Sep 13, 2005
In 1970s the most influential technical analyst was a man names Joe Granville. In today's world this may sound bizarre, but Granville actually caught every stock market move up or down by 10% within a few days of the turning point from down to up or the other way round. Towards the end of that decade, most investors actually paid more attention to his buy and sell signals rather than any other fundamental news, and for a very brief period of time his market signals would really move the U.S. stock market, albeit temporarily.
But like any financial Guru, Granville eventually met his intellectual demise. He failed to capture the start the long term bull market run of the early 1980s. In 1982-83 when the U.S. stock market turned north he remained bearish and this made investors lose faith in him. A lot of old timers may have heard of Joe but hardly anyone knows him (or about him) these days. Granville was also quite an accomplished author on technical analysis, and his books certainly survived his reputation.
(Reference: Why Are Investment Markets Stalling, article by Dr. Marc Faber as appeared on the website www.quamnet.com.
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