Prechter Gem

From The Elliott Wave Theorist—November 19, 2010

"I recall first hearing the commandment, 'Don’t fight the Fed,' about 30 years ago. I thought it was misguided then, and I still think so. To be consistent, people who argue that the Fed moves markets would have to believe that it engineered the 2007-2009 collapse and that people holding stock were “fighting the Fed”! Otherwise, how could they lose half their money in a year?"

Very well said!