J. M. Hurst was educated at Kansas State, Brown, and Washington Universities, majoring in physics and mathematics. World War II and the advent of radar stimulated interest and training in electronics and the theory of communications. Following the war, Mr. Hurst specialized for 25 years in electronics systems design for aerospace applications. An interesting project related to antisubmarine warfare provided experience with and appreciation of the power of large digital computers as applied to the problem of extracting information from time-series data. Numerical analysis methods were first applied by Mr. Hurst to negotiable equity data in the search for a solution to the classical cost-effectiveness problem. This effort led to the discovery of the spectral signature phenomenon in price data (cyclicality), and to a “Theory of Irrational Decision Processes.” “The Wave Theory of Price Action” described in this paper is the first practical application of “The Decision Theory” to be developed. In 1969, Mr. Hurst founded DECISION MODELS, INC., for the purpose of further developing decision theory and wave concepts as applied to the equity markets. The CYCLI TEC aids to cyclic analysis of equities resulted and were initially published in 1971. Mr. Hurst has authored several treatises on the Wave Theory of Price Action. The first was the book “The Profit Magic of Stock Transaction Timing,” published by PRENTICE-HALL in 1970. The paper “Cycles for Profits in Stocks and Commodities” was presented to the Society of the Investigation of Recurring Events on 15 June 1971. The paper “Predictive Implications of Periodicity in Stock and Commodity Prices” followed (presented to the Technical Security Analysts of San Francisco, 18 October 1972). The last, and by far most extensive treatment is in the form tf the “Cycli Tec Services Training Course,” initially published in 1973 by CYCLI TEC SERVICES, San Francisco. This course has been reproduced and presented by TRADERS PRESS, INC., Greenville, SC, and has been renamed the “JM Hurst Cycles Trading and Training Course.” It is exclusively available through Traders Press.
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