"Technician's Technician" Martin Pring by Thom Hartle
Technician-writer-money manager: Martin Pring was described as the "technician's technician" by
Barron's, and his diverse background can certainly confirm that. Pring received his initial training with a
Canadian investment dealer. His interest in technical analysis led him to join Storey, Boeckh in 1975,
publisher of The Bank Credit Analyst. "The Pring Market Review" was introduced in 1984 as an
extension of his interest in technical analysis. Along the way, he has lectured on and published a number
of works on investing and technical analysis. He helped form investment counseling firm Pring-Turner
Capital Group in 1988, dedicated to conservative asset allocation based on business cycle developments.
STOCKS & COMMODITIES Editor Thom Hartle interviewed Pring via telephone on November 19,1991, and
asked him about, among other topics, his KST indicator and the market cycle model.
So how were you introduced to technical analyst?
I started off in the Canadian brokerage industry in 1969 and after a year's training, I got transferred to a
one-man office about 120 miles north of Toronto in a town called Owen Sound. About then I found out
that the firm's research was inadequate; I had learned a little bit about technical analysis by picking up a
copy of Edwards & Magee [Technical Analysis of Stock Trends ], and I decided that this would be my
approach, I would use my own technical research to advise my clients. That's how I got started in
technical analysis. About three years later, a good client friend gave me a copy of The Bank Credit
Analyst, which [at the time, in 1973-74] explained why interest rates were going up, why we had
inflation, and so on and so forth. I thought it was brilliantly put together. The problem was, they had a
paragraph on technical analysis that I did not think was well put together, and so I researched to find out
what The Bank Credit Analyst had been doing on a technical basis previously. I found that they could
have used technical analysis to their benefit if they had had a little better understanding of it.
So I suggested that I consult for them. About three months later they called me and said yes, and about
two months after that, I was offered a chance to transfer to institutional sales with the same brokerage
firm in Montreal, and since The Bank Credit Analyst was also based there, [I moved there]. I was again
faced with the problem of not being able to market my research, so eventually I joined the staff of Bank
Credit Analyst, where I was able to learn more about monetary and economic indicators and to further my
knowledge of technical analysis.