Member Meeting Presentation

Speaker: Dennis Elam
Credit Hours: 1 CPE
Proposed Audience: All Levels of Auditors
Session Title: Socionomics, Predictive Value by Observing Social Mood
Purpose: Improving financial forecasting with socionomics,a new theory of social action

Attendees will learn to:

• Understand social moods role in influencing market behavior
• Identify changes in social mood, and thus likely turning points in markets
• Become familiar with the Elliott wave model of predictive market behavior
• Observe the stock market as a laboratory of social mood
• Appreciate the degree to which crowd psychology drives social action worldwide, including trends in legislation, globalization, market behavior, politics and scandals.

Course Overview: Internal auditing is all about identifying risks and installing systems to mitigate that risk. Recent outliers and black swans, such as the subprime mortgage debacle, have resulted in a perfect financial storm. The fact that the financial crisis caught most market analysts, ratings agencies, economists and financial auditors by surprise suggests that a new theory of market behavior is needed. Socionomics provides such a theory. Socionomics posits that changes in social mood result in changes in social action, including economic, financial, political, and indeed social change. The perfect laboratory to observe these changes is the stock market. The stock market represents crowd psychology, quantified in fractals of monthly, weekly, daily, and even smaller increments of price movements. Socionomics hypothesizes that the same changes in social psychology that result financial price movements, also motivate changes in other social spheres, such as popular movies and music, politics, sports, disease and more. By understanding the degree to which social psychology drives social events, socionomics can aid the internal auditor in seeing the big picture, thereby providing the auditor with a new metric to assess potential risks on financial and social horizons.

Speaker:

Dennis Elam, PhD, CPA, is an Assistant Professor of accounting at Texas A & M San Antonio. He began his career as an Internal Auditor at the City of Austin, TX. He has held six NASD licenses and operated both CPA and brokerage offices. He has written extensively about markets including several years as the business columnist for the Odessa American as well as television and radio appearances. Learn more about Dennis and his views at his blog

http://www.professorelam.typepad.com/markets.

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• $20.00 Members

• $25.00 for Non-Members and Late Registrants

• $15 for full-time Students, first-time Guests and Retirees