Monday, December 7, 2009

Bull: A History of the Boom and Bust, 1982-2004 by Maggie Mahar - "Buy and hold" does not work

In 1982, the Dow hovered below 1000. Then, the market rose and rapidly gained speed until it peaked above 11,000. Noted journalist and financial reporter Maggie Mahar has written the first book on the remarkable bull market that began in 1982 and ended just in the early 2000s. For almost two decades, a colorful cast of characters such as Abby Joseph Cohen, Mary Meeker, Henry Blodget, and Alan Greenspan came to dominate the market news.

This inside look at that 17-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.

"Buy and hold" does not work
The bull market history sheds light on today's volatile stock market - well paced, read quickly and came away with the cardinal lesson "buy and hold" is a myth that does not work. Read how people caught in that trap were led to financial ruin, then look at how you are investing today. Good perspective. Good read.

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