ONCE UPON A TIME Joe Granville was Wall Street's top technical analyst and prognosticator. He started his career writing an investment newsletter for customers and branch offices at E.F. Hutton. In August, 1963, he struck out on his own and launched The Granville Market Letter.
THE GLORY DAYS Dubbed a "showman extraordinaire" by The Wall Street Journal, Granville spiced up his investment seminars with stunts, filling stages with chimpanzees and laser light shows. He could also send the market soaring or plummeting with just a word. In early 1981, Granville sent out a sell signal that led to a 30-point dive of the Dow-back when 30 points was a big deal, amounting to a 4%, $40-billion decline. It was the largest one-day trading volume to that point.
BUT THEN A year later, Granville predicted that the stock market would crash. Whoops-1982 was the start of the longest bull market in history.
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WHAT'S HE DOING NOW Granville is based in Kansas City, Mo. He moved there in the early 1980s after meeting his soon-to-be third wife, Karen, on a blind date. At 79, he still publishes his weekly newsletter, available to subscribers for $250 (U.S.) a year. "The media called me a legend," he reflects today. "I don't think I ever was. I'm happy doing what I do now so if they like, I guess they could call me the happy legend." Any predictions? "I'm feeling very positive about this year. I'm bullish now."