The Heretics of Finance: Conversations with Leading Practitioners of Technical Analysis

Chapter 3. Walter Deemer

Whenever you think you've got a key to Wall Street, somebody comes along and changes the lock. Whatever indicators work, however well, however long, something will come along to change them, and you always have to be alert for new things to do.

Walter Deemer began his Wall Street career in 1963 as a Merrill Lynch research trainee. The following year, he moved to the firm's market analysis department, where he worked directly under Bob Farrell, and he has been a fulltime market analyst ever since. In 1966, Deemer joined Tsai Management and Research just before the initial offering of the Manhattan Fund. Then, in 1970, he went to the Putnam Management Company in Boston, one of the most prestigious money management firms in the world, and headed Putnam's market analysis department throughout the ten years he worked there. Deemer became a full member of Putnam's investment policy committee and was promoted to senior vice president in 1976. In 1980, he formed his own company, DTR, and has successfully offered his market strategies and insights to institutional clients on a consulting basis since that time.

Deemer is a founding member and past president of the Market Technicians Association. He has twice addressed the Conference on Technical Analysis, held in Cambridge, England, and has also addressed the Boston Security Analysts Society, the San Francisco Society of Security Analysts, and the Contrary Opinion Forum. He has appeared on the Nightly Business Report ...