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Title: Stock Cycles: Why Stocks Won't Beat Money Markets over the Next Twenty Years by Michael A. Alexander ISBN: 0-595-13242-1 Publisher: iUniverse.com Pub. Date: November, 2000 Format: Paperback Volumes: 1 List Price(USD): $14.95 |
Average Customer Rating: 4.12 (8 reviews)
Rating: 5
Summary: Required Reading for All Investors Young and Old
Comment: I wish I read this book five years ago before the bubble broke, I'd have alot more money now if I did. Alas, hindsight is 20/20. However, this is the first book that presents a very logical and thorough view of investment cycles that are clearly present in our economy. Yes, this book is somewhat tedious as another reviewer commented, but the true nature of the opportunities and risks of investing in the stock market are not something that reads like a vapid tabloid story. The lessons available to be learned and applied from "Stock Cycles" come only from studying, interpreting, questioning and back testing large amounts of data produced from the trading of stocks every day of every month of every year for decades and decades. Michael Alexander has done just that resulting in a work available for the layman to the investment professional from which to benefit. Michael Alexander also challenges the investment industry in that it has massaged much of that data to the detriment of the individual investor, ie.: the mutual fund industry and its "buy and hold" mantra it has been preaching since roughly the beginning of the last bull market in 1982. The mutual fund industry makes its money by maintaining a large asset base from which to generate fee revenue. Sure, "buy and hold" works pretty well in a secular bull market, but there have been many times in the past 200 years where there was little if any growth in stocks and the stock market for an extended number of years. And that number of years may be too long for many investor's investing goals to be achieved. Alexander shows that there is large amount of economic evidence indicating that we may be in just the beginning of one of those stagnant, yet unsettled cycles. Though Alexander's conclusion and recommendations on what to do now are vague, I think the overall message of the book is to invest with extreme caution but taking an active approach to investing, take profits if you have them and minimize losses should they occur and to beware Wall Street saying: "It's different this time", 'cause it's not. A must read.
Rating: 2
Summary: Mind numbing
Comment: The author goes on and on detailing the past but drew no sound conclusions. Left me wishing he would just make his point. This book was a tedious read.
Rating: 2
Summary: Author Recently Changed His Mind On Cycle
Comment: As he detailed in a 4/14/02 posting at the Longwaves forum (thru Colorado State U., beartopia dot com has the link) author Alexander has changed his mind since publishing this book and now feels we are in the fall to plateau and primary recession. Thus, Alexander is of the opinion we have further to drop in the stock market. Reminds me of Elliot Wave theorists who cannot agree among themselves where the current American economy is among the various waves.
This book does a good job of detailing why the stock market boom days are over for many years to come.
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Title: Financial Reckoning Day: Surviving the Soft Depression of the 21st Century by William Bonner, Addison Wiggin ISBN: 0471449733 Publisher: John Wiley & Sons Pub. Date: 12 September, 2003 List Price(USD): $27.95 |
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Title: The Kondratiev Cycle : A generational interpretation by Michael A Alexander ISBN: 0595217117 Publisher: Writers Club Press Pub. Date: 21 March, 2002 List Price(USD): $25.95 |
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Title: Tomorrow's Gold: Asia's Age of Discovery by Marc Faber ISBN: 9628606727 Publisher: CLSA Pub. Date: 12 November, 2002 List Price(USD): $35.95 |
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Title: The Dollar Crisis: Causes, Consequences, Cures by Richard Duncan ISBN: 0470821027 Publisher: John Wiley & Sons Pub. Date: 25 July, 2003 List Price(USD): $29.95 |
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Title: Irrational Exuberance by Robert J. Shiller ISBN: 0767907183 Publisher: Broadway Pub. Date: 10 April, 2001 List Price(USD): $15.95 |
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