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Bull's Eye Investing
Book

Bull's Eye Investing

Targeting Real Returns in a Smoke and Mirrors Market

Wiley, 2004 更多详情

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Editorial Rating

9

Qualities

  • Innovative
  • Applicable

Recommendation

This is a very good book about investing and market behavior. Readers should be forewarned that author John Mauldin may have some bias in that he is an advisor and money manager with a big commodities practice. Nevertheless, pay close attention to his evidence and the case he expounds here. Mauldin marshals numerous studies to indicate that a secular extended bear market is upon us and that it may be a long, long time before stock markets recover strength and surpass their present levels in inflation-adjusted terms. He suggests that a further drop of as much as 50% may be in the cards and, in case you aren't already scared, he supports his contention with solid evidence. Mauldin offers you a number of plausible alternatives for managing your money. getAbstract.com finds that one of his book's great merits is that it calls attention to a potentially dark scenario that most investment coverage ignores.

Take-Aways

  • The price/earnings (P/E) ratio is fundamental to stock market valuation, and when the ratio gets too high, the market inevitably falls.
  • Today's secular bear market began in 2000 and may last as long as 20 years.
  • Passive indexing worked as a strategy during the secular bull market that ended in 2000, but it is a terrible strategy in a bear market.

About the Author

John Mauldin is president of Millennium Wave Advisors, LLC, an investment advisory firm, and president of Millennium Wave Securities, LLC, a member of the NASD. He is also a commodity pool operator, a commodity-trading advisor and an introducing broker.


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