Joseph Granville

Joseph Granville

Joseph Granville (right side) with Ronald Reagan
Born (1923-08-20)August 20, 1923
United States
Died September 7, 2013(2013-09-07) (aged 90)
Kansas City, Missouri
Occupation Writer, analyst
Known for Financial market prediction

Joseph Ensign Granville (August 20, 1923 – September 7, 2013), often called Joe Granville, was a financial writer [1] and investment seminar speaker. He is most famous for inventing [2] and developing the concept of "on balance volume (OBV)". Granville argued that when volume increases sharply without a significant change in a stock's price, the price will eventually increase rapidly, and vice versa.[3] On balance volume is thus one tool of technical analysis that attempts to predict future prices of stocks, commodities, and other financial assets traded on financial markets for which historical price and volume information is available.[4]

Granville published a popular financial newsletter called The Granville Market Letter from 1963 until shortly before his death in 2013, appeared frequently on television programs such as CNBC, and gave seminars nationwide.[5] Granville is probably best known for his bearish market calls during the 1970s, 1980s, and 1990s, when he claimed that the stock market was headed for imminent collapse. Granville was known as a great showman [6] who would emerge from a coffin at an investment conference, or appear to walk across water (at a swimming pool) when meeting clients. According to Robert Shiller, Granville's market calls were said by major media sources to have caused large moves in the Dow Jones Industrial Average on April 22, 1980 (+4.05%) and on January 6, 1981.

He died at the age of 90 in 2013 at a Kansas City, Missouri hospice, of pneumonia.[7]

References

  1. ↑ Joseph E. Granville, Granville's New Strategy of Daily Stock Market Timing for Maximum Profit, Prentice-Hall, Inc., 1976. ISBN 0-13-363432-9.
  2. ↑ "On-Balance Volume (OBV) Definition", Investopedia
  3. ↑ Larry Williams, letters to Technical Analysis of Stocks and Commodities magazine, V. 22:3 (10-14), March 2004
  4. ↑ http://www.moneyshow.com/trading/article/31/TEbiwkly08-31215/A-Candle-Trigger-for-Market-Tops/
  5. ↑ Nikolaj Gammeltoft, Bloomberg, September 9, 2013 Joe Granville, Whose Bearish Calls Moved Stocks, Dies at 90
  6. ↑ Iain Jenkins, International Herald Tribune, June 11, 1994 After Initial Splash, Newsletter Gurus Don't Seem to Last Long
  7. ↑ Christopher Drew, "Joseph E. Granville, Stock Market Predictor, Dies at 90", New York Times, September 18, 2013
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