Barron's:
" You put out a piece in 1996 asserting that technical analysis had failed. What's your stance on that today?"
Laszlo Birinyi:
" A lot people (sic) think I'm really anti-technical analysis but I'm really anti-technical analysts.Analysis of the stock market really should be somewhat comparable to a physical where you spend as much time diagnosing as you do prescribing. I find that too many technicians prescribe and really don't try to understand what they are looking at. I also find that a lot of technical indicators are not predictive. For example, an advance-decline line tells you that a lot of stocks are going down but it doesn't necessarily tell you about what's going to happen."
I feel the only adjective that does this justice is: lame. In my book, what Mr. Birinyi does IS technical analysis which makes him a technical analyst, though obviously a self-hating technical analyst.
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