Joe Granville
Joe Granville
His investment seminars were bizarre extravaganzas, sometimes featuring a trained chimpanzee would could play Granville’s theme song “The Bagholder’s Blues,” on piano. He once showed up at an investment seminar dressed as Moses, wearing a crown and carrying tablets. Granville made extravagant claims about his forecasting ability. He said he could predict earthquakes and once claimed to have predicted six of the past seven major world quakes. 3
As a technical analyst, Granville predicts the market’s direction by using criteria such as trading and price patterns, rather than earnings and economic growth. He started developing his stock market theory at what was then E.F. Hutton & Co., a New York-based brokerage, from 1957 to 1963.” 6
The idea behind the OBV indicator is that changes in the OBV will precede price changes. A rising volume can indicate the presence of smart money flowing into a security. Then once the public follows suit, the security’s price will likewise rise. 4
He would often appear at lectures wearing garish costumes, including blinking bow ties, electrified sunglasses, togas, Elvis costumes and chicken outfits. Infamously, he was known for dropping his pants and reading stock quotes to surprised observers. 2
His peak was between the years 1979 and 1981, when he called virtually every move in stocks in his Granville Market Letter newsletter. He even correctly predicted an earthquake in California in 1979. 8
There are probably enough Granville anecdotes out there to fill an entire book. A perturbed Granville threatened to drop United?s stock by ten points if they didn?t come back and pick him up. The airline obliged and Granville was escorted to another flight in a VIP golf cart. 7
Last week, as his latest bullish issue was still in the mails, Mr. Granville’s theory suddenly turned bearish and advised selling. That advice, transmitted to about 3,000 clients in emergency telephone calls, triggered a selloff that drove the Dow Jones industrial average down 23.80 points and resulted in a new one-day volume record on the New York Stock Exchange. The next day, Mr. Granville predicted an earthquake of Richter magnitude 8.3 would hit Los Angeles in May. 9
For the past 24 years Joseph Granville has been living with his wife Karen in Kansas City Missouri. He is best Known as a stock market Technical Analyst. 5
