This man apparently had the ability to predict the stock market or commodity prices. He was so sure of himself that he once said something similar to this: “If wheat will not hit 1.20$ today then my whole system is wrong.” I’m not quite sure if it was wheat, but at that day it didn’t look like wheat would ever hit this mark. Surprisingly, it did! At that day wheat exactly closed at the price he had foreseen. After this, he became famous.
In a short period of time he turned a small amount of money into millions of dollars. His view was that everything is in order and connected. He believed in God and this also had a big relation to his investing and trading decisions. Gann had the view that numbers play a big role in predicting stock or commodity prices.
The problem with Gann is that his teachings are not easy to understand and thus most of the traders and investors trying to apply his knowledge fail to make profits in the capital markets.
I once came across an author of an e-book who claimed having found a way to exactly predict stock prices. I guess he employs Gann’s techniques. But I cannot tell you if the system worked, because he offers his e-book for a measly 5000$!!!.
There are rumors of Gann having lost almost everything at the end of his last days. How true that is, I don’t know, but it would be consistent with Gann’s view of all things: Everything is in order, thus what goes up must come down.
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