Joseph Ensign Granville (August 20, 1923 – September 7, 2013), often called Joe Granville, was a financial writer and investment seminar speaker. He is most famous for inventing and developing the concept of "

On-balance volume On-balance volume (OBV) is a technical analysis indicator intended to relate price and volume in the stock market. OBV is based on a cumulative total volume. The formula : OBV = OBV_ + \left\{ \begin{matrix} volume & \mathrm{if}\ close > close_{ ...

(OBV)". Granville argued that when volume increases sharply without a significant change in a stock's price, the price will eventually increase rapidly, and vice versa. On balance volume is thus one tool of

technical analysis In finance, technical analysis is an analysis methodology for analysing and forecasting the direction of prices through the study of past market data, primarily price and volume. Behavioral economics and quantitative analysis use many of the sam ...

that attempts to predict future prices of

stock In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company ...

commodities In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a comm ...

, and other financial assets traded on

financial markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets ...

for which historical price and volume information is available. Granville published a popular financial newsletter called The Granville Market Letter from 1963 until shortly before his death in 2013, appeared frequently on television programs such as CNBC, and gave seminars nationwide.Nikolaj Gammeltoft, Bloomberg, September 9, 201
Joe Granville, Whose Bearish Calls Moved Stocks, Dies at 90
/ref> Granville is probably best known for his bearish market calls during the 1970s, 1980s, and 1990s, when he claimed that the stock market was headed for imminent collapse. Granville was known as a great showman who would emerge from a coffin at an investment conference, or appear to walk across water (at a swimming pool) when meeting clients. According to

Robert Shiller Robert James Shiller (born March 29, 1946) is an American economist, academic, and author. As of 2019, he serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center fo ...

, Granville's market calls were said by major media sources to have caused large moves in the

Dow Jones Industrial Average The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity inde ...

on April 22, 1980 (+4.05%) and on January 6, 1981 (a reported $25 billion loss). He died at the age of 90 in 2013 at a

Kansas City, Missouri Kansas City (abbreviated KC or KCMO) is the largest city in Missouri by population and area. As of the 2020 census, the city had a population of 508,090 in 2020, making it the 36th most-populous city in the United States. It is the central ...

hospice, of pneumonia.Christopher Drew,
"Joseph E. Granville, Stock Market Predictor, Dies at 90"
''New York Times,'' September 18, 2013

References

External links

Archived version of The Granville Letter's website (now offline)

On Balance Volume

Harvard International Review - Exuberant Reporting Media and Misinformation in the Markets

CNBC Video the day Joe Granville crashed the market with a "Sell everything" recommendation (believed 1981)

Journal of Portfolio Management Spring 1982
{{DEFAULTSORT:Granville, Joseph 1923 births 2013 deaths American financial writers Financial advisors