Jul

20

From Point and Figure Charting by Thomas Dorsey:

Page 5: "A long time ago when I was a stockbroker at a major firm on Wall Street, I learned there is no Holy Grail."

Page 367: "It wasn't until 1978 that I came across the Point and Figure method of analysis purely by accident. When I learned it, I realized I had found the Holy Grail of investing."

Ken Smith remarks:

I still have a booklet published by Chartcraft in 1990, written by Michael L. Burke: Point & Figure Construction and Formations. I believe very little has changed in the basic approach since the first use of this method.

What Dorsey has done is market the method. His marketing includes seminars and workshops. He's been giving them for years and has a large following. His book is just a starter. His total program for subscribers is the meat of the method.

What makes it successful is the great number of subscribers. Chart constructions are simple to evaluate. But when an unknown large number of subscribers jump on a pattern the predictions in the pattern become self-fulfilling.


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