30 INTEGRATING CONTRARY OPINION AND TECHNICAL ANALYSIS

“The law of an organized or psychological crowd is mental unity. The individuals composing the crowd lose their conscious personality under the influence of emotion and are ready to act as one, directed by the low crowd intelligence.”

—Thomas Templeton Hoyle

“In any case, regardless of our political leanings, we should remember that the job of a contrarian is to challenge those beliefs that we hold most dear—the very beliefs that, because of our loyalty to them, we are least likely to subject to critical scrutiny.”

—Mark Hulbert, July 25, 2012, MarketWatch

Contrary Opinion Defined

Humphrey Neil put together his own ideas and experience and joined them with the writings of Charles Mackay ( ...

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