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 analysing
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 theorising how they
should work, Napier offers investors a financial field guide to
making the best provisions for the future. This new edition
includes a brand new preface from the author and a foreword by
Merryn Somerset Webb.
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