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Apart from the brief mention of the subject in the letters market, the first significant material that I read about the wave principle, Bolton was a book in 1960, Elliott Wave Principle: A Critical Assessment. It were not only clearly identified inconsistencies and weaknesses Wave Principle, but also contain one of the very few great stock market outlook, ie Bolton prediction of major tops the Dow at 999, which is almost exactly fulfilled in 1966, while the level remained essentially unbeatable for seventeen years. This book led me to a long and exciting journey that still continues. Apparently, it is appropriate to pay tribute to Bolton making it work on the Wave Principle is accessible to all who wish to read it.


Home Publications Arthur Hamilton Bolton had his monthly The Bank Credit Analyst [BCA], which was published by his firm, Bolton, Tremblay & Co., for an annual subscription price of $ 50. Bolton has been a pioneer in the study of the relationship between the availability of bank credit and stock market trends. His point of view is most fully reflected in the book Money and Investment Profits, published by Dow-Jones Irwin in January 1967. Also, in these years were published pamphlets, including "Introduction to the analysis of a bank loan," "The principles of analysis of bank credit" "The problem of gold", "turnover rate of the deposit - a speculative light?" and "Inflation and equities."


Bolton was a "dissident intellectual." In one letter, he bluntly stated: "I absolutely do not care what they say the traditional defenders of the status quo." It is this independence and needed to develop his theories of bank credit, as well as a public presentation of the Wave Principle. However, he at the same time was quite open and intelligent in order to, in his words, to weave the current popular representations in his case [to weave «the current 'in' thinking» into his exposition], to the establishment and could not calm down enough paid his work the attention it deserves. Another strength of the Bolton was his claim of intellectual rigor in analytical research that is clearly visible in his work. Bolton applied and its own theory of bank credit and elliottovskie concept of market structure analysis with equal thoroughness. A particularly compelling example of his care is a series of personal letters in which he corresponded with the economist, who proclaimed a new view of nature and a sense of duty. Bolton on many pages analyzing this theory, listing her shortcomings with surgical precision. The content of the Wave Principle, undoubtedly, too, was subject to scrutiny by the Bolton and as a result, not only withstood the onslaught of his, but also require a strong mental effort on his part.
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