"Harvard Economist Is Pulling His Money From Bank Of America"

An excerpt from a new article by Terry Burnham, a former Harvard economics professor.

By Elliott Wave International

EWI's president Bob Prechter has been warning about the safety of the U.S. banking system for a while.

Enjoy this excerpt from a new article by Terry Burnham, a former Harvard economics professor, author of "Mean Genes" and "Mean Markets and Lizard Brains", who spoke at last year's Socionomics Summit in Atlanta.

Mr. Burnham's article appeared on pbs.org on January 30 and was quickly picked up by Zero Hedge.

Last week I had over $1,000,000 in a checking account at Bank of America. Next week, I will have $10,000.

Why am I getting in line to take my money out of Bank of America? Because of Ben Bernanke and Janet Yellen, who officially begins her term as chairwoman on Feb. 1. Continue reading ""Harvard Economist Is Pulling His Money From Bank Of America""

Historic Optimism in the Stock Market - What Does it Mean?

By: Elliott Wave International

How do you know when the market is getting ready for a change? This quote from Bob Prechter's best-selling book, Conquer the Crash, looks at investor psychology at extremes in the markets:

The engine of high stock market valuation is widely shared optimism. The greater the degree of the advance that is ending, the greater the optimism at its peak. Optimism also tends to remain strong in the early stages of a bear market.

Today, how optimistic are market participants? Bob dedicated an entire issue of his Elliott Wave Theorist market letter to looking at the level of optimism in the markets today. These two charts, excerpted from that letter, show just a piece of the story. Learn how you can get the entire issue, with 15 eye-opening charts, for free. Continue reading "Historic Optimism in the Stock Market - What Does it Mean?"