My attitude is to ... reserve judgment, until I see something more about his track record.
This is a great way to learn new techniques.
But his book is a bit expensive:ERMANOMETRY-The Perfectly Patterned Stock Market
| Ermanometry ...
Book title: ERMANOMETRY-The Perfectly Patterned Stock Market.
Author: William T. Erman. Publisher: Ermanometry Research. Price: $275. Pages: 300+
His website : http://www.aboutus.org/ErManOmetry.com
William T. Erman is the founder and president of Ermanometry Research. After graduation from Harvard University in 1951, he served in the US Army during the Korean War. After involvement in various business endeavors, he developed an interest in harmonious patterns he perceived in all freely traded markets. He has now been analyzing market movements for over thirty five years.
129 Woodmont Blvd
Nashville TN 37205 US
A tribute, for adding to understanding : http://goldennumber.net/phriends.htm
Another, from Erman's own website:
Kyle Yu, M.D.
"I have been a student of the stock market since 1980 and have not only witnessed a great deal of dramatic market action (e.g. the major low of 1982, the "crash" of 1987, and the current stock market mania as the Dow heads towards 10,000) but have also studied many different ways of evaluating the markets, from technical to fundamental analysis to trading system optimization. I have also followed the predictions of many market analysts over the years, including the market "gurus" who have come and gone. For these reasons, I consider myself an experienced and somewhat knowledgeable non-professional market participant. Several months ago, I had the good fortune of coming across Mr. Erman's work in a pre-publication draft of his upcoming book (Ermanometry), and although by now, I have become "jaded" and fundamentally skeptical about most so-called market "experts," I was immediately captivated by this man's ideas after just a few short pages. Of all the occasional good ideas that I have ever come across, only Mr. Erman's comes remotely close to what I would consider market "truth."
Successful market decision-making demands the highest level of precision, and no other methodology that I have ever come across comes close to the precision that Ermanometry aims for and achieves. I have never seen anyone attack the market "riddle" with as much rigor, energy, innovation, and success as Mr. Erman. When it comes to the markets, I am very demanding, and I rarely give any so-called market "expert" more than 1 or 2 chances to deliver on their promises. Mr. Erman delivered on his first try. Among his predictions that I saw come to pass was the recent major market low of 9/1/98. I would guess that you have never heard of Ermanometry before - I certainly didn't until just recently. That is because Mr. Erman has given the benefit of his work only to professional money managers in the past. Fortunately for us non-professionals, Mr. Erman is a true student of the markets who has chosen to share what he has discovered of market "truth" with all who are interested. Mr. Erman's ideas are not simple or simplistic, nor should any truly scholarly work be. I have been around long enough to know that nobody can or will deliver the "goose that laid the golden egg" to your doorstep. You have to make your own decisions to be successful, and a strict money management approach is mandatory, but you also need the right tools, and if you take the time and energy to understand Ermanometry, you will soon discover that it is a tool you cannot do without. As for me, I am planning to hang onto Mr. Erman's coattails."
Experience in our day to day trading and research has proven to me that Ermanometry is an invaluable tool. The basic principles of Bill Erman's work were first uncovered in the silver and soybean markets. I was a bit concerned that the impressive accuracy of his methods, when used to analyze a single commodity, would be difficult to duplicate when the work as applied to a "basket" of contracts, such as an index with 30-500 individual stocks. The fact that Ermanometry has proven equally powerful with both individual commodities and indices is further proof of the commonality of markets and the universal principles that comprise the body of his work. Any serious trader who does not investigate and benefit from this cutting edge approach will be at a serious disadvantage.
I am proud to have been one of the very first people to support Bill Erman's work when I was Director of Research at the Tudor Group. I have witnessed his work evolve into an entirely new and powerful science of market analysis. I believe Bill's contributions to the field will have a lasting impact and open the eyes of those who believe market movements are completely random.