In this clip Prechter explains why people herd in financial markets -- and then makes one suggestion to his audience at last year's inaugural Socionomics Summit that you may find surprising.

What's especially noteworthy about what you just saw is that almost every single attendee at the packed-house event really did take Prechter's suggestion!

Last year's Summit was a sold-out event, and was full of finance professionals, social mood researchers, Elliott wave analysts and more.

Yet after the day-long Socionomics Summit ended, these individuals found themselves all herding together -- as the dialogue continued downstairs at the Georgia Tech Conference Center's lobby and bar.

This year's Socionomics Summit: New Initiatives in Social Mood Research and Application promises to be another fantastic networking opportunity, with plenty of chances to mingle with an impressive group of like-minded individuals.

Don't miss your chance to join this growing community at the 2012 Summit. REGISTER NOW>>

Editor's note: Additional video from Prechter's presentation on herding is available here>>

This article is syndicated by The Socionomist, a publication of the Socionomics Institute, and was originally published under the headline (VIDEO) The Only Time You'll Hear Bob Prechter Suggest Joining the Herd. The Socionomist is designed to help readers understand and anticipate waves of social mood.