North Americans are frenetic about stocks, convinced that the markets have nowhere to go but up. Each month, more and more novice investors pull their money out of their stagnant bank accounts and low-interest GIC’s and plough them into mutual funds and similar investments. In a compelling argument, Andrew Sarlos sounds an alarm against all this frenzied activity. (1997)
Book Description
Editorial Reviews
From Publishers Weekly
Canadian investor Sarlos, sounding like a voice of doom, predicts a bear market in the next year or so that will last into the coming millennium. This dire warning, with brief histories of market panics and a short course in economic theory, forms the bulk of his cautionary tale. The basic point, which Sarlos repeats like a mantra, is that a bear must come because there has never been a sustained bull market. He goes even further, arguing that the bear will be one of the hardest ever because history shows that longer bulls lead to longer bears, and the current bull has had a 15-plus-year ride. Given his premise, the strategies Sarlos offers in the last quarter of the book don't seem that useful. "Don't buy at the top" of a bull market, he advises, and don't "expect to make money in a bear market." He also writes that if you can afford to wait out a bear, keep your money in stocks, but if you need cash soon for retirement, reduce your equity holdings. These and similar tips (e.g., diversify) make up the rest of this shallow guide.
Copyright 1998 Cahners Business Information, Inc.
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Most Helpful Customer Reviews
5.0 out of 5 stars
Prophetic,
By A Customer
This review is from: Fear, Greed and the End of the Rainbow: Guarding Your Assets in the Coming Bear Market (Paperback)
I read this book in 1998 and moved out of stocks because of it. Thank You Mr. Sarlos.I only wish Mr. Sarlos was still with us to give his insight on the current market. As of January 2003, the market is only back to the level it was at the time Mr. Sarlos wrote this book and ringing the alarm bell !!! Do we still have this much further to fall ? Dow 4000 in 2005, Mr. Sarlos ???
5.0 out of 5 stars
Andy Sarlos RIP,
By RAK (Toronto) - See all my reviews
This review is from: Fear, Greed and the End of the Rainbow: Guarding Your Assets in the Coming Bear Market (Paperback)
In response to a previous reviewer's query - Andy Sarlos died a few years ago.
5.0 out of 5 stars
Charles MacKay is laughing in his grave,
This review is from: Fear, Greed and the End of the Rainbow: Guarding Your Assets in the Coming Bear Market (Paperback)
I love reading the reviews of this book. The one from Canada in early 2000 should become a classic. If only the reviewer had read some financial history and maybe 'Extraordinary Popular Delusions & The Madness of Crowds' by Charles Mackay. He'd have realised that the 90s IT-bubble was nothing new and merely the latest in a long line of manias that date back centuries. They all had sad and sorry endings. This one was no different.Full marks to Sarlos for having the guts to publish contrarian views with such impeccable timing. It just goes to prove that American investors can be just as unsophisticated as their so-called Emerging Markets couterparts.
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