A Quote by Rick Santelli

One of the greatest technicians of all time was a man named W. D. Gann (1878-1955). He had tremendous success predicting market moves much in advance. Legend has it that he occasionally sent notes to 'The Wall Street Journal', which accurately predicted tops and bottoms in grain markets months ahead of time.
Occupy was not a movement, it was a tactic. You can't sit forever in a park near Wall Street. You can't do it for more than a few months. It was a tactic I had not predicted. If people asked me, I would have said "don't do it." But it was a great success, an enormous success, with a big impact on people's thinking, on people's actions.
Time is the most important factor in determining market movements and by studying past price records you will be able to prove to yourself history does repeat and by knowing the past you can tell the future. There is a definite relation between price and time. By studying time cycles and time periods you will learn why market tops and bottoms are found at certain times, and why resistance levels are so strong at certain times, and prices hold around them. The most money is made when fast moves and extreme fluctuations occur at the end of major cycles.
To prove that Wall Street is an early omen of movements still to come in GNP, commentators quote economic studies alleging that market downturns predicted four out of the last five recessions. That is an understatement. Wall Street indexes predicted nine out of the last five recessions! And its mistakes were beauties.
OK, so here's the deal. First of all, "The Wall Street Journal" was bought for $5 billion. It's now worth $500 million, OK. They don't have to tell me what to do. "The Wall Street Journal" has been wrong so many different times about so many different things. I am all for free trade, but it's got to be fair. When Ford moves their massive plant to Mexico, we get nothing. We lose all of these jobs.
I do believe that we should substantially lower student debt in this country, which is crushing millions of people. We pay for it, in my view, by a tax on Wall Street speculation. The middle class bailed out Wall Street in their time of need. Now, it is Wall Street's time to help the middle class.
I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of money at tops and bottoms.
I don't want to romanticize the world in which everybody watched three networks and the Washington Post and the New York Times and the Wall Street Journal were incredibly dominant. That time has passed.
We've got a yawl named the Phebe, which is named for a boat in a whaling journal my father and I edited. We keep a copy of the journal on board.
You should expect little or nothing from Wall Street stock pickers who hope to be more accurate than the market in predicting the future of prices. And you should not expect much from pundits making long-term forecasts.
It's in the nature of stock markets to go way down from time to time. There's no system to avoid bad markets. You can't do it unless you try to time the market, which is a seriously dumb thing to do. Conservative investing with steady savings without expecting miracles is the way to go.
I contend that financial markets never reflect the underlying reality accurately; they always distort it in some way or another and the distortions find expression in market prices. Those distortions can, occasionally, find ways to affect the fundamentals that market prices are supposed to reflect.
I'm not wedded to covering the markets. I'm intrigued by the markets. If I can connect Main Street with Wall Street, then I've succeeded.
Predicting has a spotty record in science fiction. I've had some failures. On the other hand, I also predicted the fall of the Berlin Wall and the rise of fundamentalist Islam... and I'm not happy to be right in all of those cases.
Predicting has a spotty record in science fiction. I've had some failures. On the other hand, I also predicted the fall of the Berlin Wall and the rise of fundamentalist Islam... and I'm not happy to be right in all of those cases
No man can control Wall Street. Wall Street is like the ocean. No man can govern it. It is too vast. Wall Street is full of eddies and currents. The thing to do is to watch them, to exercise a little common sense, and … to come out on top.
I write a column for The Village Voice, which I've done since time immemorial, and occasionally - and books. And I occasionally write minor notes for record albums and occasional articles.
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