Posted on Tuesday, March 12, 2013 by sccl_smart_investing
Anatomy of the Bear 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. 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 can begin to piece together the features indicative of emerging great buying opportunities. Napier essentially transports you to the time and the events which led up to the bear phases. He examines wars, monetary policy, politics, economic factors, and anything else which had an impact on the buying and selling motivations of traders, making this book an incredible resource for anyone wanting to learn from lessons of the past. In 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 most thoughtful provisions for the future.