Joseph Granville - 1923-2013 - RIPSubmitted by Diamond Dog on Thu, 09/19/2013 - 14:52
He will be missed by this dog.
By Roben Farzad . September 19, 2013 . BusinessWeek
Only a handful of mere mortals can move entire markets with a few words. Bernanke, Buffett, Monti: In this era, you pretty much have to be of that import to single-handedly turn the screen all red or green.
But there was a time—before the Internet and CNBC, when trading volumes were much lighter, a broker had to take your order, and newspaper stock tables truly mattered—that a newsletter writer with a carnival barker’s shtick could send the Dow Jones industrial average tanking. That figure, longtime stock forecaster Joseph Granville, died on Sept. 7 at the age of 90. The heyday of his craft predeceased him by several decades.
Granville had been hawking his Market Letter since 1963, after six years at E.F. Hutton, where he fixated on trading and price patterns. He thought he had it all down to a science and coined such metrics as “on-balance volume” and “net field trend.” “The idea,” he wrote, “caught me, quite literally, with my pants down. One August morning in 1961, I sat on the toilet in the E.F. Hutton men’s room, away from the hubbub of the research department, musing about the stock market.”
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Short bio at Wikipedia.