Price is the truth. Everything else is opinion.

disciplineprice-actionBloomberg Television, 2003

Secular trends last much longer than anyone expects, in both directions.

long-termpatienceSmith Barney Technical Research Report, 1999

The chart tells you what market participants collectively believe. You ignore that at your own risk.

market-psychologyriskCNBC Interview, 2008

Independence from institutional pressure is the only way to give truly unbiased research.

independenceintegrityLYA Research Firm Launch, 2005

When long-term support levels break, the chart is telling you something that the fundamentalists have not figured out yet.

market-structureriskInstitutional Investor Interview, 2001

The goal is not to predict. The goal is to respond to what the market is showing you with discipline and without emotion.

disciplinepsychologyLYA Research Commentary, 2010