"The Socionomic Theory of Finance is the best book ever written on financial markets. It is humble & bold, broad & deep, and crystal clear yet mysterious."-Terry Burnham, Professor of Finance, Chapman University; Professor of Economics, Harvard, 1997-2004; author, Mean Markets & Lizard Brains-the New Science of Irrationality
"Socionomic theory is fresh and original. Whatever the ultimate verdict, a revolutionary new perspective and a basis for prediction are just what the social sciences presently need."-H. Eugene Stanley, University Professor (Physics), Boston University; member National Academy of Sciences; a founding father of econophysics
"A fascinating synthesis of social science research and sharp economic analysis. Prechter invites readers to think in (unexpected) ways that require some effort that is well rewarded. Anyone who contemplates our financial future should read and try to absorb the case put forth in this book."-Werner De Bondt, Professor of Finance; Founding Director of the Richard H. Driehaus Center for Behavioral Finance, DePaul University; co-founder of behavioral finance
"This brilliant and vividly written book dispels countless myths and lays the foundation of a scientific theory of financial and macroeconomic causality. By reading it you will understand how socionomics works and why its aspects of testability, falsifiability and predictive ability set it apart from other theories. The book goes far beyond theory, boldly providing counter-intuitive yet logically coherent explanations of real-world market activity and social trends, thereby providing a guide for interpreting history and even for anticipating it. You will likely find this book hard to put down, and I expect you will come back to it again and again, such is the wealth of insights found at every turn."-Sacha Sardo-Infirri, Ph.D (Mathematics), University of Oxford; Rhodes Scholar; Senior Quantitative Researcher, The Prediction Company
"Bold, ambitious, counter-intuitive, disquieting and original. This book challenges conventional wisdom that fails the test of empirical confirmation."-Laurence Chud, M.D. (Psychiatry); Faculty, Harvard Medical School
"This superb book should have a major impact on financial and economic theory. It is essential reading for anyone who wants to understand the real basis of financial markets."
-Kenneth Olson, Ph.D (Clinical Psychology), Professor Emeritus, Fort Hays State University
"This book thoughtfully and exhaustively challenges the flawed logic behind conventional thinking as espoused by economists and financial experts every day. Point by point, it discredits their arguments on market causality and offers a compelling alternative. Academics and investment professionals would be wise to consider the extraordinary road map that STF lays out for them."-Peter Atwater, President, Financial Insyghts; Adjunct Professor, University of Delaware
"It may be a cliché, but I could not put this book down. Prechter's flowing style and easy language make this a spellbinding book. The more you read the tighter it grips you, a bit like a spy novel. He challenges the long held beliefs of the efficient markets hypothesis and random walk, but rather than simply dismissing them with sweeping statements, he provides hard evidence of their worthlessness, then replaces them with the refreshing new theory of STF. Prechter argues his case with enthralling examples and compelling logic, making it difficult to disagree with. No single paragraph can do justice to this book. Start on page 1 and find out for yourself what it is all about. "-Jeremy du Plessis, CMT; financial author; Fellow of Society of Technical Analysts (UK)
"Unique and incisive. STF turns orthodox thinking upside down. A masterpiece."-Murray Gunn, Head of Technical Analysis, HSBC Global Research
