Then, the market rose and rapidly gained speed until it peaked above 11, Noted journalist and financial reporter Maggie Mahar has written the first book on the remarkable bull market that began in and ended just in the early s. This inside look at that year cycle of growth, built upon interviews and unparalleled access to the most important analysts, market observers, and fund managers who eagerly tell the tales of excesses, presents the period with a historical perspective and explains what really happened and why. She notes that most people swept up in the euphoria of this latest market surge failed to recall the lessons of and , when earlier bubbles collapsed and investors lost heavily. Citing studies by esteemed economists John Kenneth Galbraith and Charles Kindleberger, Mahar reminds readers that this self-blinding euphoria is a regular feature of every bull market.
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January 1, Vitalijus Sostak History is one of the most important mediums to understand market workings and this book is a fine piece of financial history: detailed, showing different aspects of s markets individual investors, fund managers, analysts, media etc. Highly recommended! Great bull market of ies is presented in "crystal clear" manner with each and History is one of the most important mediums to understand market workings and this book is a fine piece of financial history: detailed, showing different aspects of s markets individual investors, fund managers, analysts, media etc.
Great bull market of ies is presented in "crystal clear" manner with each and every part falling into neat place in the bigger puzzle. Despite all the financial engineering that attempts to eliminate risk, cycles appear to be as inevitable as the seasons.
Investors who understand these cycles are more likely to survive the winter of a bear market and to avoid its final phase - despair. They know that eventually, summer always returns, and more than that, they know that somewhere on the planet it is always summer.
When the market is down and dull, it is hard to make people believe that this is the prelude to a period of activity and advance. When prices are up and the country is prosperous, investors are even more loath to believe that the years of plenty will end. The second stage is panic.
The third phase is despair. The goal is to conserve capital. When a long bear market finally ends, those with cash will find bargains galore. Russell called compounding "The Royal Road to Riches". Waiting for opportunity: "And, if no outstanding values are available, the rich man sits on his hands.
Bull!: A History of the Boom and Bust, 1982-2004