By Elliott Wave International
In part 2 of our in-depth interview with Steve Hochberg, Steve explains what else makes Elliott wave analysis so useful and practical.
If you missed part 1 of our in-depth interview with Steve Hochberg, you can watch it here.
[Editor’s note: A text version of the interview is below.]
Alexandra Lienhard: So, as editor of the Financial Forecast and the Short-Term Update, what’s the goal with the services you provide?
Steve Hochberg: It’s interesting in how we form them. Bob [Prechter] writes the Elliott Wave Theorist, and has been doing so since 1978. Back in the 1990s, his interest started broadening and he started developing this field called socionomics. He wanted to step back a bit from the day-to-day market commentary and incorporate the views of socionomics into what he was writing about. So, back in the late 90s, he brought a few people in and we started writing sections of the Elliott Wave Theorist for him — of course, he edited it to make sure it said exactly what he wanted it to say. Back in 1999, he said, ‘You know what, this has been successful enough. Let’s do something really unique for our subscribers. Let’s give them not only the Elliott Wave Theorist and what I’m talking about socionoimcally and in the markets, but let’s also give them your commentary in terms of stocks, bonds and everything else.’ So Peter Kendall, who co-writes the letter, and I got together — and Bob said, ‘You write the Elliott Wave Financial Forecast and you can deal with all these markets and cultural trends, and I’ll stay with the Elliott Wave Theorist and when I have something important to say about the markets, I can say it. And when I have something very theoretical that I want to put out there and broaden the scope of what’s going on, I’m able to do that through the letter.’ So we gave our subscribers both letters and it’s really been a huge success because we’re able to communicate as often as we want and in the manner that we want.
Alexandra: So Steve, there are so many financial newsletters out there, and you’ve been writing yours for quite a while now so what makes your analysis unique?
Steve: First of all, one of the reasons that we’ve been around as long as we have, which is a little unusual in this business, is because some of the views we have offer are unique. And really it boils down to the Wave Principle and using that model to forecast the trends in stocks, bonds, commodities, real estate, precious metals and so forth. It’s a model that is not that difficult to understand, it’s a little bit difficult to apply successfully, continually, but people can pick up our newsletter and fairly quickly understand what we’re thinking about in terms of the markets — and more importantly, why. And as they read it, they’ll naturally get used to viewing it in the way we view which is a little bit different than other people, the causality about psychology leading the news events. As you get involved in the Wave Principle, you’ll understand what I’m talking about. But really, that’s what makes us unique and that’s what makes it fun for us to write, and that’s what makes it fun for people to read.
Alexandra: Well, I know you’re a busy guy, so thanks again for sitting down and chatting today.
Steve: Thank you.
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This article was syndicated by Elliott Wave International and was originally published under the headline Markets: Understand the Present to Forecast the Future (Part 2). EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.