Letters to S&C by Technical Analysis, Inc.
More on the Computer-Assisted Investment Handbook
Thanks for the Computer-Assisted Investment Handbook review in your June issue. However, there are
some factual errors that need correction:
1. It was published in 1983 (not 1982) 2. The Foreign Exchange programs are not "genuinely trivial" (see
pages 134-145 of the handbook). The use of these programs could have successfully forecast the trends in
foreign exchange rates since generalized floating in March 1973. (Also see Richard & Schumpeter, et.al.)
3. It is not true that "no evidence is presented to show . . . refined model is more accurate in predicting . .
. " (See pages 172-179 of the handbook). Also in the lengthy bibliography, there are specific references to
three publications by Eugene F. Fama, and also three by Benoit Mandelbrot as referred to in pages
Thank you for your consideration.
ALBERT I.A. BOOKBINDER, PH.D. - Elmont, NY