The Wall Street Journal
By James B. Stewart
Robert Prechter, Joseph Granville, and Henry Kaufman: meet Elaine Garzarelli.
Ms. Garzarelli, a research analyst and money manager of Shearson Lehman Brothers Inc., turned bearish on Sept. 9. By Oct. 12, when she appeared on the Cable News Network’s “Money Line” program, she was fiercely bearish, predicting an imminent collapse in the stock market. She gave USA Today a similarly dire forecast the next day. Then, she says, “I hid.”
In the wake of the Oct. 19 market collapse, she has emerged as the newest star prognosticator on Wall Street. Two days ago, she issued a lead forecast…
