WD Gann or, Looking back from 1955
WD Gann or William Delbert Gann was born in Lufkin, Texas on 6 June 1878. Samuel Houston Gann, his father, was a teacher who traded in horses and cattle. Additionally, he owned a billiards hall. Susan Rebecca Gann (née Trevation), Gann’s mother, spent the most of her time parenting W.D. Gann and his younger brothers and sisters. She taught little William to read by introducing him to the Bible – a book that would later affect his perspective on the nature of markets. Gann was from a humble background. Samuel and Susan lived in a small house with their eight children, and young William had to go seven miles to school each day for three years. Gann was never a high school student. In 1894, William Gann gained a minor’s release, allowing him to discontinue full-time schooling and seek employment. Gann began his career as a news butcher (a person who sells newspapers, food, and other items) aboard a train between Texarkana and Tyler, Texas. Additionally, he worked in cotton warehouses.
Gann married his first wife, Rena May Smith, in 1901, while working at a broker’s office in Texarkana. Their first child, Nora, was born in 1902. Gann also made his first deal in cotton in 1902. Gann relocated to New York in 1903. He was 25 years old at the time. In 1905, he gave birth to his second daughter, MacieBurnie. On 12 September 1905, the Texarkanian published an article in which Gann expressed his opinion on cotton prices. Gann worked as a broker in Oklahoma City in 1906.
In 1907, Gann made a fortune by correctly forecasting the stock market panic and the subsequent decline in commodity prices.
At the age of 30, Gann divorced Rena May and married Sadie Hannify, a 19-year-old. His two kids relocated to live with their father in New York. He found his ‘Master Time Factor’ during this year. He traded on two different accounts. He began with $300 and made $25,000 in three months. He began with $130 in the second account and earned $12,000 in the same 30 days. Gann and Sadie welcomed their first child, a daughter named Velma, in 1909. By this point, Gann had proven himself as an extraordinary trader. Richard Wyckoff, editor of the Ticker and Investment Digest and one of the most eminent stock market writers of all time, wrote an article about Gann’s findings and extraordinary trading skill.
William D. Gann. An Operator Whose Science and Ability Establish Him as a Leader. His Remarkable Trading Record and Predictions.
An independent observer followed Gann’s trading during October in order to validate his trading record:
During the month of October 1909, Mr. Gann executed two hundred and eighty-six transactions in various equities, on both the long and short sides of the market, in the presence of our representative. 264 of these deals resulted in profits; 22 resulted in losses. The capital with which he operated was tenfold increased, and at the end of the month, he had a thousand percent margin on his initial investment. We witnessed him place sixteen consecutive orders in the same stock in a single day, eight of which were at either the top or bottom eighth of that particular swing.
We can vouch for the preceding. Such performances, when combined with the preceding, are almost certainly unprecedented in the Street’s history. (Ticker and Investment Digest, December 1909, Volume 5, Number 2, page 54.) Gann admitted to earning half a million dollars in the past few years through his trading.
The Ticker and Investment Digest representatives were able to verify Gann’s success as a trader. “I once seen him take $130 and increase it to nearly $12,000 in less than a month. He has the ability to multiply money quicker than any man I have ever met.” (Ticker and Investment Digest, December 1909, Volume 5, Number 2, page 54.) Gann published his first book, Speculation a Profitable Profession, in 1910. Additionally, he published periodicals such as The Busy Man’s News and, later, his renowned Supply and Demand Letter. Gann foresaw a world war and stock market panic in early 1914. John L. Gann was born in 1915. In March 1918, Gann correctly anticipated the end of World War I and the Kaiser’s abdication. Numerous prominent newspapers, including the New York Times, acknowledged his prognosis.
He began working for himself in 1919. He issued his Supply and Demand Letter, in which he forecasted the stock and commodity markets on an annual basis. Gann published Truth of the Stock Tape in 1923. This book has been widely hailed as the greatest on the stock market ever written. Gann earned more than $30,000 trading cotton in 60 days with a starting capital of less than $1,000. Gann published his ‘novel’ Tunnel Thru the Air in 1927. Gann used this book to compile a list of his discoveries. The discoveries were ‘hidden’ within the narrative of the book. Numerous merchants have attempted to discern the secrets of this book over the years, but few have succeeded. Gann foresaw World War II in Tunnel Thru the Air, namely Japan’s attack on the United States. The following is the wording of an advertisement for the book that was published shortly after its release by the Financial Guardian Publishing Company: Mr. Gann’s most recent book, The Future War in the Air, discusses the biblical cycles and laws for forecasting the future of nations, stock and commodity markets. It continues through 1932, providing insight into the upcoming stock, cotton, and grain campaigns. A captivating, mystery love tale is intertwined into scientific information, making this book both enjoyable to read and instructional for men and women from all walks of life.
Gann correctly forecasted the bull market’s peak for 3 September 1929 and the subsequent worst panic in history in 1928.
Gann published Wall Street Stock Selector in 1930. He described the market situation from 1931 to 1933 in this book. Gann joined the New York Rubber Exchange and the New Orleans Cotton Exchange in 1931. In 1932, Gann advised his investors to buy equities during the Great Depression’s bottom. Gann published New Stock Trend Detector in 1936 and purchased his custom-built all-metal airplane, ‘The Silver Star’. He was the first private owner of a metal airplane in the United States. He acquired a number of airplanes over the years. Elinor Smith served as his pilot for 19 years. Gann also acquired real estate and high-performance cruising yachts.
Gann published How to Make Profits Trading Puts and Calls in 1937. In this year, he divorced his wife Sadie. Gann published Face Facts America in 1940. He explained in this book why Germany will lose World War II and why the United States should stay out of the conflict. He also discussed the key flaws he found in the United States Government’s ‘New Deal’ and their ramifications. Gann was elected to the distinguished Chicago Board of Trade in 1941. He waged a sustained campaign against Roosevelt and his ‘New Deal.’ This occurred during a period when the US government had its highest budget ever (at the time), and the Ford Motor Company was forced to suspend manufacturing for a year owing to a severe lack of sales. Gann published How to Make Profits in Commodities in 1941. The 1941 edition was co-authored by W.D. Gann and his son John. Sadie Gann, Gann’s wife, died in 1942 at the age of 53. In 1944, he married Londi, a woman 30 years his junior.
Gann treated her as a queen, much to his children’s chagrin. Gann then relocated to the sunnier environment of Miami, Florida, where he continued to trade, invest in real estate, and instruct his students. Today, Gann’s third wife is still alive. In 1948, Gann sold his trade company in St. Louis, Missouri to Joseph Lederer. Gann published 45 Years in Wall Street in 1949. Gann was awarded honorary membership in the International Mark Twain Society for the quality of this book. Gann published The Magic Word in 1950. This was his contribution to the canonical writings of the Bible. Gann founded the Lambert-Gann Publishing Company with Ed. Lambert on 23 May 1951. Lambert is primarily remembered for building Miami’s roadway system. This company was responsible for the publication of all of Gann’s books and courses. Gann revised and reissued How to Make Profits in Commodities, omitting his son John’s name and image.
The 1951 revision was a smashing success. Gann was still able to obtain a price of US$500 per day for his consulting services at the age of 73. In New York, he sold W.D. Gann Research, Inc. to C.C. Loosely. Gann purchased a high-speed cruise boat dubbed ‘The Coffee Bean’ in 1954, at the age of 76, using the earnings from a very successful commodity deal. In 1954, Gann’s Great Master Course sold for US$5,000 – the typical price of a house at the time. Gann experienced a heart attack and was diagnosed with stomach cancer shortly afterwards. In 1955, W.D. Gann returned from one of his numerous trips to Cuba, where he enjoyed purchasing lottery tickets and wagering on horse races. He was unwell and quite frail. His son John escorted his father from Florida to Brooklyn, where he was taken to the Methodist hospital. W.D. Gann died on 18 June 1955 at 3.20 p.m. He was 77 years old when he died. Gann’s children arranged for his burial with his second wife Sadie at the Masonic part of Brooklyn’s Greenwood Cemetery, on a hill overlooking the Manhattan skyline and Gann’s favorite Wall Street.
