|Originally published in the March 2011 Socionomist|
After 50 years of making big buys, Rupert Murdoch’s News Corporation is planning its biggest acquisition ever—a deal worth $12.5 billion.
The significance of Murdoch’s latest deal, plus key acquisitions he has made since the 1950s, are highlighted by Elliott Wave International’s Mark Galasiewski in the March 2011 issue of The Asian-Pacific Financial Forecast. Galasiewski notes that almost every one of Murdoch’s past major purchases has marked an intermediate-term top not only in News Corporation’s stock price but also in Australia’s stock market. Further, these peaks have generally coincided with tops in global stock markets. If precedent holds, and if Murdoch seals his latest deal, Galasiewski predicts, “We may be looking at another peak in social optimism, which would therefore signal that most of the gains in the rally since the 2009 low have been had.”■
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Most economists, historians and sociologists
presume that events determine society’s mood. But socionomics hypothesizes
the opposite: that social mood regulates the character of social events. The
events of history—such as investment booms and busts, political events,
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