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APsychicWalkonWallStreet:
ExploringESPandFinancialFutures

BYBRYANWILLIAMS

Whenasked,peoplewhochoosetoconsultapsychicreadermaygiveanynumberofreasonsfor
wanting to do so. For instance, some people may wonder whether they are really living the
lifestylethatisrightforthem,whileothersmaybecuriousaboutthestatusoftheirlovelife.And
inthewakeoftherecenteconomicrecessionperiodwithintheUnitedStates,manypeoplemay
beconcernednowadayswiththeirfinancialfutureandwouldliketogainalittleforesightonwhat
theoutcomemightbe.
AccordingtoanarticleprintedintheSeptember23,2008editionofTheNewYorkTimes,
somepsychicreadersclaimtohaveseenarecentriseinbusinessasmoreclientscometothem
withquestionsaboutemploymentandthestatusofanypersonalinvestmentstheyvemadeon
Wall Street.1 And it seems that these clients havent only been individuals from the financial
sector;theyvebeenpeoplefromallwalksoflife.
Ifpeoplereallyhavebeenturningtopsychicsmoreoften,thenthisraisessomeintriguing
questions:Whatpsychologicalfactorscouldbedrivingpeoplessuddenrelianceinwhatmightbe
seenasanunconventionalandrathertabooformoffinancialconsultation?Andisitreallypossible
thatpsychicscouldbehelpfulinpredictingapersonsfinancialfuture?Inseekingtoshedsome
lightonthesequestions,wemayfindthatseveraldecadesofpsychologicalandparapsychological
researchcanprovideusefulillumination.

IntheClientsSeat

Sowhatcouldbedrivingapersonsdesiretoconsultapsychicreader?Inanefforttofind
out, anthropologist GeriAnn Galanti once conducted survey interviews with 20 psychic readers
andtheirclientsintheLosAngelesareaduringthe1970s.2Amongthevariousreasonsthatthe
clientsgaveforwantingtoconsultapsychic,severalstatedthattheywereexperiencingapersonal
crisis and simply wanted to know what the eventual outcome would be. For instance, a client
namedDorissaidthatshealwayswenttoseeapsychicwhenevershefeltshewas...inverydeep
water,verytroubled.Iwantedtogetahookonthefuture.Thepresentwasunbearable.2,p.75

Inarelatedsituation,someclientsfeltindecisiveintimesofuncertaintyandwantedsome
guidancefromapsychicaboutthedirectiontheyshouldfollow.AclientnamedGildatoldGalanti,
Iusuallygo[toseeapsychic]whenImfacedwithalotofdifferentoptionsorImjustgenerally
confusedanddontknowwhichpathtotake.2, p.74Similarly,Reneesaidthatshewouldgotoa

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psychic,...ifIhadsomequestionsinmylife.Confusionaboutbigthings,likearelationship,where
youre living, what youre doing. Or if I had to make a decision about something I was unsure
about.2,p.74

Whenaskedabouttheirstresslevelswhengoingtovisitapsychic,mostoftheclientssaid
thattheywereunderamoderatetohighamountofstress.Theyseemedtohopethatapsychic
readingwouldprovidesomedegreeofreliefbyhelpingthemtoclarifytheirfeelings,decidewhat
todo,and/orofferpositivereassuranceaboutthingstocome.Galantinotedthat,inthesecases,
thereasons thatclientsgavefortheirvisitaretheverysameones that apersonmight give for
wanting to visit a psychotherapist. But why did the clients instead choose to seek the help of a
psychicreader?

AccordingtoGalantissurvey,theclientsnotionthatpsychicscanbehelpfulintroubling
situationsseemstopartlystemfromsimilaritiesinthewaythatthepsychicsandtheirclientsview
life in the world around them. For example, rather than being set in stone from the beginning,
somepeoplebelievethattheyareabletoexertadegreeofcontrolovertheirowndestiny,and
that the manner in which they fulfill their purpose in life is ultimately determined by their own
choicesandactions.About70%ofthepsychicssurveyedbyGalantihadstronglyagreedwiththis
view,asdidabout60%oftheirclients.Allofthepsychicsalsoagreedthathumanthoughthasthe
power to affect change in the world, a view strongly shared by 80% of their clients. These
viewpoints suggest that, rather than resigning themselves to dealing with whatever fate has in
storeforthem,manyclientsareopentothenotionthatitspossibleforthemtochangethings
around.Ifthatsthecase,thenperhapsreceivingadvicefrompsychicsaboutwhatstocome,and
howtheycouldpossiblyaffectit,mayseemtobethemostlogicalchoiceforthem.Forsome,this
mayseemespeciallysensibleintodaysworldwhenitcomestomakingfinancialinvestmentsor
decidingwhethertoswitchjobs.

Similar surveys of people in various parts of the world who have visited psychic readers
have shown varying degrees of influence. In the 1970s, psychologist John Palmer surveyed the
studentsandpeoplelivinginthecollegetownofCharlottesville,Virginia.Ofthestudentswhohad
visitedapsychic,67%foundtheirreadingtobehelpful,and78%claimedtohavemadechoicesor
actions based on it.3 Around the same time, psychologist Erlendur Haraldsson conducted a
nationalsurveyofthepeoplelivinginIceland.Hefoundthatjustoverhalfoftherespondershad
beentoseeapsychicatleastonce,andthatofthesepeople,28%foundtheirreadinghelpful.4
Morerecently,psychologistChrisRoesurveyedlocalresidentsofEdinburgh,Scotland.About30%
oftheresidentssaidtheyhadbeentoapsychic,andoftheseresidents,halfofthemthoughttheir
readingwashelpful.Inaddition,anotableminorityoftheseresidentsnearly30%hadtaken
thepsychicsclaimsseriouslyenoughtovisitthemfordirectadviceorreassurance.5

Although it seems that a considerable number of clients felt that their psychic readings
were helpful, its important to distinguish this feeling from how accurate the reading may have
been.Fromatherapeuticperspective,itcanbearguedthatiftheclientsreallyfoundtheirreading
to be personally meaningful and reassuring in some way, then it really may not matter much
whether (or not) it was indeed accurate about the things to come in their future. On the other
hand,thiscanbeacentralmatterfromascientificperspective.Isitpossibleforsomepsychicsto
accurately foresee the future, and in a way that could be practically applied in the financial
market?Toaddressthisquestion,wemustnowturnfromsurveysofcommercialpsychicreaders
tomorecontrolledparapsychologicalresearchconductedwithsomeseeminglygiftedindividuals.
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ESP,RemoteViewing,andtheFuture

Parapsychologistscommonlyusethetermprecognitiontolabelanyexperienceinwhicha
personseemstogainawarenessofafutureeventwithoutusingthefivebodilysensesorlogical
inference.Tostudyprecognition,researchershaveusedavarietyofexperimentalmethodsover
the years, ranging from people guessing the resulting order of symbols in a pack of ESP cards
beforeitisthoroughlyshuffled,tohavingthempredicttheoutcomeofrollingdice,tohavingthem
identifywhichpictureoutofseveralonacomputerscreenwilllaterbechosenatrandombythe
computer.In1989,researchersCharlesHonortonandDianeFerrarihadpublishedastudyinwhich
they collectively analyzed all of the various precognition experiments conducted between 1935
and 1987.6 Together, their collection of 309 experiments by 62 different researchers showed a
statisticallysignificantresultthatconservativelyamountedtooddsofaround900milliontoone
against chance, providing considerable supportive evidence for a precognitive effect.7 Nearly a
decadelater,psychologistsFionaSteinkamp,JulieMilton,andRobertMorrispublishedasecond
studyinwhichtheyanalyzedalloftheexperimentsconductedfrom1935to1997thatcompared
precognition with clairvoyance (the realtime ESP ability to perceive hidden or distant objects).8
Takenontheirown,theprecognitiveaspectoftheseexperimentsagainshowedstrongstatistical
evidenceforaneffect,withoddsofjustoveramilliontooneagainstchance.9

Precognition and clairvoyance are usually regarded as separate abilities, but there have
beenafewinstancesinwhichthetwohaveseeminglyworkedintandem.Onesuchinstancehas
beentheexplorationofprecognitiveremoteviewing.(RemoteviewingisasimpleESPtechnique
through which people attempt to perceive hidden objects or distant locations, usually just by
closingtheireyes,relaxing,andobservingtheimagesandimpressionsthatfreelycometomindas
theytryandfocustheirthoughtstowardtheobjectorlocationinquestion.)
Fromtheearly1970stothemid1990s,severalmilitarybranchesoftheU.S.government
had funded an experimental program to explore the potential use of remote viewing in
intelligencegathering.10LeadingthisprogramearlyonweretwophysicistsatStanfordResearch
Institute(SRI),HaroldPuthoffandRussellTarg,whofoundthatvolunteerparticipantswereableto
accurately describe the features of a distant geographical location being visited at random by a
group of SRI experimenters.11 A statistical evaluation of all 154 experiments on remote viewing
conductedatSRIfurtheratteststotheirsuccess,withtheoverallresulthavingestimatedoddsof
overaquintillion(i.e.,aonefollowedby18zeros)tooneagainstchance.12
Eventually, Puthoff and Targ discovered that some of the remote viewers were able to
describe the distant location before the experimenters even got there. In one fascinating
experiment,photographerHellaHammidnotonlyremotelysawthefeaturesofthelocationthat
anexperimenterwasabouttovisit,butalsoapparentlyheardthemaswell,asillustratedinher
description:

Igotaquickflashofablack,pointedarealikeaheadofanarrow.Hewalksintoitslikeatriangle
thathewalksintoitsarhythmickindofsqueak,likearustypumpanotwelloiledpistonjusta
veryrhythmicsqueaking

Halfanhourlater,theSRIexperimenterwalkedintoapublicpark,whereachildrensplayground
withaswingsetwaslocated.Asheswungbackandforthintheswing,theexperimenternoticed

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thatthemetalringsholdingtheswingtotheoverheadbar(whichwassupportedbyatriangle
shapedframe)producedadullsoundingsqueak.

Around the same time that the SRI experiments were going on, a very similar kind of
remote viewing program was also being conducted by the Princeton Engineering Anomalies
Research (PEAR) group at Princeton University. Unlike the one at SRI, the PEAR program was
focusedprimarilyonprecognitiveremoteviewing,inwhichtheviewersattemptedtoperceiveand
describe the location that the experimenters would be going to, even before their destination
location was randomly selected. Using various analytical scoring methods, the 653 experiments
conductedbyPEARwerefoundtohaveacombinedoddsratioofabout33milliontooneagainst
chance.13

AlongwiththeSRIandPEARwork,researcherStephanSchwartzpioneeredanotherform
ofremoteviewingthatwaseventuallyfoundtobeusefulinforecastingtheoutcomesoffuture
events.14Inassociativeremoteviewing(ARV),asitcametobecalled,aviewerisaskedtotryand
describeoneoffourhiddenobjects.Eachoftheseobjectsisrandomlyassociatedwithadifferent
eventoutcomethatcouldpotentiallyoccursometimeinthenearfuture,andtheviewersgoalis
to successfully describe the object which represents the outcome that will actually happen.
Following the event, the viewer is given feedback by being shown the object that reflects the
actualoutcome.
Usingthismethod,itwouldbepossibleinprincipletoanticipateafutureeventandtake
responsiveactionbeforeitsoutcomeunfolds.Forinstance,onemightuseARVtodecideonwhom
toplaceabetinanupcominghorserace.Eachhorserunningintheracewouldbepairedwitha
different object or location, and a viewer would be asked to try to describe the object/location
associatedwiththewinninghorse.AninformaltestinwhichARVwaseffectivelyappliedinthis
mannerwasonceconductedbySchwartz,whichreportedlyledtoacorrectbetandabigpayout.

Exploratory tests like these naturally ask the question: If it is possible to predict the
outcomeofafutureeventusingARV,thencoulditbeusefulinmakingprofitableinvestmentsin
thefinancialworld?Somefuturistshavesuggestedthispossibility.15

ESPonWallStreet?

Following the successful experiments at SRI, Puthoff and Targ each made an effort to
explorethepracticaleffectivenessofremoteviewingbyusingittopredictthedirectionofsilver
futuresontheCOMEXcommodityexchange.Inprinciple,itwasfeasibletousethenumbersand
symbols for commodity prices being displayed on the big board at the New York Commodity
Exchange as targets for remote viewing. However, viewing strategies developed during the SRI
research suggested that such detailed, analytical targets were often difficult to hit with much
accuracy,whichledPuthoffandTargtochooseARVinmakingtheirfinancialforecasts.

Tohelpraisefundsforaschoolcharity,Puthoffcarriedoutaseriesof30ARVsessionsin
theearly1980s,inwhichsevennoviceremoteviewersattemptedtopredictthedailychangein
silver prices. Two different objects were used for each viewing session, with one object
representingariseinprice,andtheotherrepresentingadrop.Theviewersattemptedtodescribe
theobjectthatwouldbeshowntothemattheendofthefollowingday,andtheirdescriptions
werecombinedtogetherbyconsensusjudging to formulateageneral predictionofthe priceof
silver(eitherariseoradrop)forthefollowingday.Thispredictioninformationwaspassedontoa
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commoditytrader,whothenmadeanactualinvestmentinthesilvermarketonthebasisofthe
prediction.Afterthemarketclosedattheendofthenextday,theviewerswereshowntheobject
that reflected the actual change in price as feedback. As a group, the viewers were able to
correctlypredictthepricechangein21(70%)ofthe30sessions,aresultthathasoddsofabout
450 to 1 against chance. In terms of money, the successful investments that were made in the
marketbasedontheviewerspredictionshadnettedabout$25,000forthecharity.16
At around the same time, Targ began undertaking his own exploration into psychic
tradingbyformingacorporatepartnershipcalledDelphiAssociateswithbusinessmanAnthony
White and psychologist Keith Harary. In December of 1982, the three Delphi partners made a
seriesofninesilvermarketforecastsbasedontheresultsofnineinformalARVsessions.17Here,
three different geographic locations were used to predict the change in silver prices after three
days,withthefirstlocationrepresentingalargeincreaseinprice(morethan.25),theseconda
moderateincrease(under.25),andthethirdadropinprice.
Hararyhadhadsomepreviousexperiencewithremoteviewingthroughhisparticipationin
theSRIexperiments,andheagainassumedtheroleoftheviewertomakeeachofDelphisnine
forecasts.EachThursday,Hararygavehisimpressionsofthedistantlocationhewouldbetakento
after the market closed on Monday afternoon. Following the viewing session, a pair of judges
compared Hararys impressions against the three locations to see which one they most closely
resembled. On the basis of the price change associated with that location, the Delphi partners
asked a stockbroker to either buy or sell silver contracts on the market accordingly, and then
liquidatetheirholdingsafterthemarketclosed.Allofthenineforecaststheymadewereaccurate,
and the broker had made successful investments for seven of these, reportedly earning Delphi
over$100,000inprofit.ThisimpressiveresulteventuallycaughttheeyeofTheWallStreetJournal,
andastoryonDelphianditsunconventionalformofmarkettradingsubsequentlyappearedon
thefrontpageoftheOctober22,1984editionofthenewspaper.18

Despite its initial success and momentary publicity, Delphis effort in psychic trading did
notlastforlong.InMarchof1983,theencouragedDelphipartnersbeganmakingasecondseries
ofARVbasedforecaststotryandrepeattheirsuccessfulresultsfromthepreviousyear.However,
the investments they made in the market following their first two ARV sessions were met with
backtoback losses, forcing the Delphi partners to reexamine their approach in the hopes of
findingoutwhathadgonewrong.AlthoughtheopinionsamongtheDelphipartnersaboutwhat
happenedaremixed,thereareindicationsthatthetwofailuresmayhavehadmoretodowith
abruptchangesintheDelphiARVprocedurethananykindofbreakdowninthepsychicprocess
per se. For instance, Harary noticed that a possible miscommunication between him and the
judgesduringtheevaluationofhisimpressionsinthefirstARVsessionmayhaveledthejudgesto
matchhisimpressionswiththewronglocation,whichinturnledtoanincorrectmarketforecast.
Thus,theproblemmayhavearisenintheinterpretationofhispsychicimpressions,ratherthanin
the generation of them. Claims also arose that, after the successful December 1982 series, the
DelphipartnerswerefeelingpressuredfromanoutsideinvestortoincreasetheirnumberofARV
sessions,whichmayhaverushedseveralphasesoftheirprocedurethattypicallyrequiredcareful
handling and evaluation. Apparently these hasty changes and differing goals soon became hard
issuesamongthoseinvolved,andDelphiAssociateswassubsequentlydisbanded.19

Just over a decade later, Targ made an attempt to repeat Delphis successful December
1982resultsinaseriesof18ARVsessionsinwhichheandpsychologistJaneKatraservedasthe
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viewers.20AsinPuthoffsstudy,twodifferentobjectswereusedtorepresentariseoradropin
silverprices.EachweekonSundayevening,TargandKatramadeseparateforecastsoftheprice
change(eitherariseorafall)atthecloseofthemarketonMondayafternoonbyremoteviewing
the object that they would shown on Tuesday evening, the selection of which would be
determinedbyMondaysmarketoutcome.Asidefromsixsessionsthatdidnotcountbecausethe
qualityoftheirviewingwaspoor,TargandKatraprovidedaccuratedescriptionsoftheobjectsin
11 out of the 12 sessions they participated in, a result that has odds of about 330 to 1 against
chance.Whentheirimpressionswerecombinedbyconsensusjudgingtocreatemarketforecasts,
sixoutofthesevenforecastsmadewerefoundtoaccuratelypredictthechangeinsilverprices.
But unlike in the Delphi series, they did not go a step further and make an actual market
investment, as they did not intend to use this successful series for profit. Rather, it was simply
meanttoserveasyetanotherdemonstrationofthepracticaluseofARVintherealworld.

Inthemostrecentpracticaleffort,GregKolodziejzykconductedanextensiveseriesofARV
sessionsoverthecourseofa13yearperiod(fromMay1998toSeptember2011)tomakestock
market forecasts and predictions about the outcomes of sporting events, online gambling, and
lotteries.21Usinganautomatedsysteminwhichacomputerrandomlyselectedtwohiddendigital
images to represent the two potential outcomes of a future event (e.g., a rise or a fall in stock
market prices), Kolodziejzyk made his forecasts and predictions by trying (via ARV) to gather
impressionsabouttheimageassociatedwiththeoutcomethatwouldactuallyberealizedatsome
later time. In order to increase his confidence regarding a certain forecast or prediction,
KolodziejzykwouldconductmultipleARVsessionsfocusedaroundthesamefutureeventandthen
poolingtheirresultstogetherthroughconsensusjudgingtoformoneoverallforecast/prediction
aboutthatevent.Outofthe5,677ARVsessionsheconductedoverthe13yearperiod,52.6%had
correctlydescribedtheimageassociatedwiththeactualeventoutcome(whereasonly50%would
beexpectedbychancealone).Althougha2.6%increaseoverchancedoesntseemlikemuch,the
odds associated with such a result are about 31,000 to one. In terms of money, 60% of the
financialinvestmentsmadebyKolodziejzykonthebasisofhisoverallforecasts/predictionswere
profitable,amountingtoaround$146,500overall.

WeighinginonPsychicFutures

Given the recent period of economic uncertainty in America, it seems that some people
mayturntopsychicreadersinordertoreceiveassuranceandperhapsgettheheadsuponwhat
they could possibly do to avert financial crisis. In some respects, psychic readers may act as an
alternativepsychotherapistinofferingapositivelightonthingstocome,whethergoodorbad,for
their clients in the future. But do the predictions that psychics give their clients really reflect
whatsgoingtohappen?
Parapsychological research suggests that some psychic predictions can and do provide
somedegreeofaccuracyaboutfutureevents,andthatpsychicabilitiesmaybeputtopracticaluse
inmakingfinancialdecisionsandinvestmentsonthecommoditiesmarket.Butgiventhevarying
natureofpsychicperformanceandthemultiplefactorsinvolvedindeterminingthedirectionof
thestockmarket,financialpredictionsbasedsolelyonESPmaybesomewhatdifficult,socaution
iswarrantedforthoseboldenoughtotryandmakeafortuneusingESPonWallStreet.

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References&Notes

Koppel,L.(2008,September23).Wouldyouaskapsychicforstocktips?Moreoften,clientsdo.TheNewYorkTimes,
p.B5.
2
Galanti,G.A.(1986).Theastralcouch:PsychicreadersandpsychicreadingsinLosAngeles.Theta,13/14,7378.
3
Palmer, J. (1979). A community mail survey of psychic experiences. Journal of the American Society for Psychical
Research,73,221251.
4
Haraldsson,E.(1985).Representativenationalsurveysof psychicphenomena:Iceland,GreatBritain,Sweden,USA,
andGallupsmultinationalsurvey.JournaloftheSocietyforPsychicalResearch,53,145158.
5
Roe,C.A.(1998).Beliefintheparanormalandattendanceatpsychicreadings.JournaloftheAmericanSocietyfor
PsychicalResearch,92,2551.
6
Honorton, C., & Ferrari, D. C. (1989). Future telling: A metaanalysis of forcedchoice precognition experiments,
19351987.JournalofParapsychology,53,281308.
7
This conservative odds ratio is based on the result obtained by Honorton and Ferrari using a subcollection of 248
precognitionexperiments,whichhadbeentrimmeddowntoexcludeextremescores.SeeNote6,pp.287
288,fordetails.
8
Steinkamp,F.,Milton,J.,&Morris,R.L.(1998).Ametaanalysisofforcedchoiceexperimentscomparingclairvoyance
andprecognition.JournalofParapsychology,62,193218.
9
Incidentally,theclairvoyanceaspectwasalsostatisticallysignificantatoddsofabout500toone.
10
Forreadableaccountsofthisgovernmentbasedexperimentalprogramonremoteviewing,seee.g.,Puthoff,H.E.
(1996).CIAinitiatedremoteviewingprogramatStanfordResearchInstitute.JournalofScientificExploration,
10, 63 76 (also published in The Intelligencer: Journal of U.S. Intelligence Studies, 12, 60 67); Targ, R.
(1996). Remote viewing at Stanford Research Institute in the 1970s: A memoir. Journal of Scientific
Exploration,10,7788;andTarg,R.,& Puthoff,H.E.(1977/2005).MindReach:Scientists LookatPsychic
Ability.Charlottesville,VA:HamptonRoadsPublishingCompany.
11
Puthoff,H.E.,&Targ,R.(1976).Aperceptualchannelforinformationtransferoverkilometerdistances:Historical
perspectiveandrecentresearch.ProceedingsoftheIEEE,64,329354.
12
May, E. C., Utts, J. M., Trask, V. V., Luke, W. W., Frivold, T. J., & Humphrey, B. S. (1989). Review of the
psychoenergetic research conducted at SRI International (1973 1988). Final Report SRI Project 1291.
Menlo Park, CA: SRI International. See also Utts, J. M. (1996). An assessment of the evidence for psychic
functioning.JournalofScientificExploration,10,330.
13
Dunne,B.J.,&Jahn,R.G.(2003).Informationanduncertaintyinremoteperceptionresearch.JournalofScientific
Exploration,17,207241.
14
Schwartz, S. A. (2007). Opening to the Infinite: The Art and Science of Nonlocal Awareness. Buda, TX: Nemoseen
Media.Ch.12.
15
Lee,J.H.(2008).Remoteviewingasappliedtofuturesstudies.TechnologicalForecastingandSocialChange,75,142
153.
16
Puthoff,H.E.(1985).ARV(associationalremoteviewing)applications.InR.A.White&J.Solfvin(Eds.)Researchin
Parapsychology1984(pp.121122).Metuchen,NJ:ScarecrowPress.
17
Harary,K.,&Targ,R.(1985).Anewapproachtoforecastingcommodityfutures.PsiResearch,4,7988.
18
Larson,E.(1984,October22).Didpsychicpowersgivefirmakillinginthesilvermarket?Anddidgreedruinitall?The
WallStreetJournal,p.1.
19
Harary,K.(1992).Thegoosethatlaidthesilvereggs:Acriticismofpsiandsilverfuturesforecasting.Journalofthe
AmericanSocietyforPsychicalResearch,86,375409.
20
Targ,R.,KatraJ.,Brown,D.,&Wiegand,W.(1995).Viewingthefuture:Apilotstudywithanerrordetectingprotocol.
JournalofScientificExploration,9,367380.
21
Kolodziejzyk, G. (2012). Greg Kolodziejzyks 13year associative remote viewing experiment results. Journal of
Parapsychology,76,327368.