Word: goulding
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...assured." He added: "I don't feel the need to prove myself, or the compulsion to succeed that I once did." Although troubled by corporate woes, the old hutchkeeper showed only smiles as Girl Friend Barbi Benton, 27, Daughter Christie, 23, and 150 old chums, including Actor Elliott Gould and Author Gay Talese, gathered to celebrate his 50th birthday at Hefner's 30-room pad in Los Angeles. "I'm feeling as good as at any time in my life," he said. "Each decade has seemed a little better...
...Street's division of labor, stock analysts try to forecast earnings of individual companies and pick those that might make good investments, while market analysts attempt to predict whether the market as a whole will rise or fall. To put it mildly, neither always succeeds. But Edson Beers Gould, at 74 the dean of market analysts, has been right often and spectacularly enough to be a market force in his own right. Two weeks ago, just after the Dow Jones industrial average rose smartly to 1,009, rumors began circulating that Gould was about to forecast a short-term...
There was little doubt that Gould's forecast was responsible for the sell-off-which caused some embarrassment for Gould's employer, the New York firm of Anametrics, Inc., an investment advisory service. Clients who pay $500 annually for Gould's opinions were upset to receive them only after they had been acted on by other investors who read summaries of Gould's advice in the newspapers for a few cents. Anametrics Chairman Steven A. Greenberg hurriedly mailed letters to clients denying leaks to journalists and pointing out that Gould's advice should have come...
...drop nonetheless illustrates the awesome reputation for calling market turns on the nose that Gould has built up over the past 20 years or so. He has been wrong a few times. He cheerily admits that in August 1971 he predicted a rise from the Dow's then level of 840; instead it fell to 790 by November. But other predictions have seemed almost omniscient. Only three trading days after the Dow hit its alltime high of 1,052 on Jan. 11, 1973, he advised clients to sell aggressively; those who did escaped one of the market...
Tracking Patterns. How does he do it? A diminutive (5 ft. 2 in.), sprightly man, Gould is a technician who pays little attention to corporate earnings or the course of the economy. Using millions of figures dating back more than a century, he follows the lines that stock prices and trading volume trace on charts. He bolsters his chart readings with studies in physics (for the laws of motion), music (for rhythm) and crowd psychology. He has evolved his own gauges of the market, including the "speed-resistance line" (a measure of how far and fast prices have risen...