About the book
Journalist Maggie Mahar chronicles the bull market of 1982 to 1999, when the Dow rose from below 1000 to a peak of about 11,000. Built on interviews with analysts, market observers and fund managers, the account moves between Wall Street, Main Street and Washington and includes portraits of Henry Blodget, Alan Greenspan, Abby Joseph Cohen and James Cramer. Mahar also follows ordinary investors, from housewives and professors to waitresses and salesmen, who were swept up in the excitement and then saw their savings drain away. She challenges the idea of stocks for the long run, showing how promoters created an illusion that winning was guaranteed, and casts Warren Buffett as a value investor who is ultimately a long-term market timer.
Nassim Nicholas Taleb praised Mahar for having the courage to question the almost religious faith in markets and said it takes a trader to value her work.
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This book has 1 recommendation
Nassim Nicholas Taleb (Flaneur)
Maggie Mahar had the courage to take a look at what was behind all of this religious belief in markets. Clearly I do not understand how she was able to work as a journalist when she has the attitude and mindset of a truth-seeker. I spent some time looking at the difference between her book and Lowenstein's: not even possible to start comparing. One needs to be a trader to value her work.
Read this book now; wait a while then read it again.
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