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A solid book on stock market cycles that complements authors such as Shiller, Graham and Hussman (author of the Hussman Report) and provides a good counter to more bullish writers such as Jemery Siegel (Stocks for the Long Run). Includes great data and info graphics on investor performance and valuation cycles. Convincingly argues against buy-and-hold index investing by showing that for 99% of investors it makes a big difference when they invest in the cycle; as few people truly have an investme...
The first half of the book is ancient history now as it was written between the Dotcom bust and the Great Recession. It is easy to skim through the section and confirm the belief that history does repeat itself. The second half gets down to the premise of value investing. There are a few chapters with the real meat of how to invest successfully versus the buy and hold mentality. I recommend the book for those chapters and its value as a reference guide.
I didn't agree with some of his recommendations (hedge funds, using an advisor). I also didn't really take away much from the book.That being said he seemed intelligent and certainly seemed to know much more than I so it's hard to rate this accurately.
I read this book about 2005 or so. it really spoke to me regarding the "abundance of enthusiasm" and I have since followed Mauldin's e-letters "From the Frontline" and "out of the box" and read the updates on my many plane rides. Right now, he has done a 2 part "revisit" of this book (how many analysts do you know that actual go back and discuss how well they predicted things 10 years ago?). Not surprisingly, he has been right on about 90% of the time. We really are in a secular bear market. Thi...
Mauldin is an important thinker and provided foreshadowing insight on how to navigate the most difficult economic crisis in the past 75 years. Written in 2004, Mauldin wrote, "Future stock market returns are likely to be severely below those of recent decades and the expectations of investors." Mauldin continues to provide relevant and timely insight to market participants. Keep your eyes open for the "Fourth Turning."
Sweet book on the history of markets and some bold predictions for its time (i say its time, but its actually not that long ago). John Mauldin's very successful book (if you read his excellent newsletters, you should pick this up)
Important read for any investor. If I had only followed some of his advise about the coming bear secular market, I would not have lost so much money when the market cratered last fall.