Ralph Nelson Elliott
Ralph Nelson Elliott (1871-1948) was of that rarest of breeds, a true scholar in the practical world of finance. Financial analyst Hamilton Bolton accurately described the enormity of Elliott's feat when he said that "he developed his principle into a rational method of stock market analysis on a scale never before attempted." Brilliant and persistent, Elliott reached his ultimate achievement late in life by a circuitous route that included fortune in the disguise of disaster.
Elliott was born on July 28, 1871 in Marysville, Kansas, and later moved to San Antonio, Texas. Around 1896, he entered the accounting field, and for twenty-five years held executive positions primarily with railroad companies in Mexico and Central America. By rescuing numerous companies from financial difficulty, Elliott earned a reputation as an expert business organizer. Finally, in early 1920, he moved to New York City.
A serious alimentary tract illness left him bedridden and forced into retirement in 1929. As a distraction, Elliott began to study movement of the Dow Jones Industrial Average. He had witnessed the roaring bull market of the 1920's and the Great Depression. He concluded from his studies that market fluctuations were not random. He noted that "the stock market is a creation of man and therefore reflects human idiosyncrasy." He observed that patterns of the financial markets reflect cycles of human optimism and pessimism.
Books by Ralph Nelson Elliott:
by R. N. Elliott, R. N. Major Works of R.N. Elliott Elliott, Robert Rougelot Prechter, Robert R., Jr. Prechter (Editor)
Elliott's Masterworks is an excellent resource for those interested in Elliott Wave, R.N. Elliott himself, and how his knowledge and understanding of this principle progressed and came into being. But if you are interested in learning the Wave Principle itself and do not care much about history and the larger scheme of things, then just read the blue book entitled "Elliott Wave Principle" - it is much more up to date and refined than Elliott's original masterworks.
R.N. Elliott's Market Letters: 1938-1946 (Hardcover)
by Ralph Nelson Elliott, Robert R. Prechter (Editor)
R.N. Elliott's Market Letters, 1938-1946, presents Elliott's real-time analysis and forecasts of market action, along with numerous essays on the application of the Wave Principle. Commentary throughout the book is extensively footnoted and cross-referenced by Bob Prechter. (Hardback, 234 pp.)