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 | Anatomy of the Bear: Lessons from Wall Street's Four Great Bottoms Manufacturer: Harriman House Price: $35.49 In Stock. Usually ships in 1-2 business days | |||
Product Description How does one spot the bottom of a bear market? What brings a bear to its end? There are few more important questions to be answered in modern finance. Financial market history is a guide to understanding the future. Looking at the four occasions when US equities were particularly cheap - 1921, 1932, 1949 and 1982, Russell Napier sets out to answer these questions by analyzing every article in the "Wall Street Journal" from either side of the market bottom. In the 70,000 articles he examines, one begins to understand the features which indicate that a great buying opportunity is emerging. By looking at how markets really did work in these bear-market bottoms, rather than theorizing how they should work, Napier offers investors a financial field guide to making the best financial provisions for the future. This new edition includes an updated prologue from the author. Customer Reviews Worth reading. Although some times the reading becomes a bit "heavy", the author did a great job in making this matter affordable everyone. Remarkable investigating work, and condensed in order to avoid a huge book. It is a book that can find a great use among scholars, investors, or even just plain people interested in knowing more about those traumatic crisis that recurrently happen any capitalist system. The book was worth every penny spent in buying it. Fantastic book it's a fantastic book that covers not only the four biggest US bear market but also the whole history of US stock market. Through this, you can see what people thought and what they did in the great bottoms. It just feel like you're back there! 10 signals to success Imagine being a stock investor during the roaring twenties. The Dow Jones Industrial Index gained around 420%. Then imagine all of that gain being taken away by the Great Depression as the DJIA dropped around 89% between 9/3/29 and 7/8/32. Then imagine gaining 372% to peak on 3/10/1937. It was a very big roller coaster ride. Then imagine the DJIA gaining 94% between 10/9/02 to 10/9/07. Then feel it dropping 53.7% from 10/9/07 to 3/9/09. The market will need to gain 116% just to get back to the peak. Somewhere among the millions there was probably some unlucky soul that was buying on 10/9/07 and selling on 3/9/09. If your goal is to buy within six months of a bear market bottom and sell within six months of a stock market top, then you'll need to begin with when to buy. The author looked at 10 to 12 variables that would signal the four best times to buy during the 100 years that begin with the year 1900. One of the things I like best is the quotes from the Wall Street Journal in the days before and after the bear market bottom. When placed in context of the stock, bond, commodity markets; politics, and the Federal Reserve stance, the quotes are surprising. When FDR took office, most of the price damage to the DJIA had already been done. But the politicians didn't sit on their hands. There were nine new bills targeting finance in the years 1933 to 1935. Now Obama wants to seriously change our current financial regulation. Just think, less than two years ago the concern was that the Euro would replace the US dollar at the reserve currency of the world and London "the city" will replace New York as a major financial center. Time will tell if the current rally was green shoots or yellow weeds. If you're looking for less of a textbook, try the audio book, Reminiscences of a Stock Operator. Anatomy of the Bear: Lessons from Wall Street's Four Great Bottoms It is more of a stock market history book and can be boring to read at times. The conclusions basically summarized the 290+ page of material. If you're thinking about investing now, read this book! Its now 2009, and we are already in the midst of one of the greatest bear markets in history. It only makes sense to read this book before deciding whether or not to jump back into equities. Recently the author has been quoted as not being bullish (Jan 2009) and in the book he provides compelling arguments as to why it pays to wait in extreme bear markets before investing. A great history book and an hopefully an even more useful guide to investors today. If you are even thinking about buying this book, you should. Add to Cart Continue Searching | ||||
