Anatomy of the Bear: Lessons from Wall Street's Four Great Bottoms [Paperback]

"a must-read for anyone with even a passing interest in the great sweep of financial history"

"Here’s a cushion for when you hit the bottom."

"Keep this book in mind, for one day it will help you make a lot of money!"

This is a good time to look at the financial bear. How does one spot the bottom of a bear market? What bring a bear to its end? There are few more important questions to be answered in modern finance. Financial market history is a guide to understanding the future. Looking at the four occasions when US equities were particularly cheap - 1921, 1932, 1949 and 1982, Russell Napier sets to answer these questions by analysing every article in the "Wall Street Journal" of either side of the market bottom. In these 70, 000 articles he examines, one begins to understand the features which indicate that a great buying opportunity is emerging. By looking at how markets really did work in these bear-market bottoms, rather than theorising how they should work, Napier offers investors a financial field guide to making the best financial provisions for the future.

Russell Napier's 'Anatomy of the Bear: Lessons from Wall Street's Four Great Bottoms' is an outstanding "must read" for any follower of financial markets. Russell has filled a void. This is the first book to my knowledge that traces, with many pertinent insights, the swings of US stock prices from undervaluation to overvaluation and back over the past 100 years.

I am constantly asked about the best investment opportunities. The acquisition of knowledge and a broad understanding of historical price trends may be one of the best personal investments one can make at this time. I have no doubt that 'Anatomy of the Bear' will become an investment book classic, read by followers of financial trends for generations.

Dr Mark Faber, author of 'The Gloom, Boom & Doom Report'

Russell Napier is a consultant with CLSA Asia-Pacific Markets writing on issues affecting global equity markets. After studying law, he began his investment career sixteen years ago at Baillie Gifford in Edinburgh managing funds in the Japanese then the US and finally the Asian markets. Moving to Foreign & Colonial Emerging Markets in London he was responsible for managing Asian portfolios. In May 1995, Russell relocated to Hong Kong to become Asian equity strategist for CLSA, a leading Asian equity brokerage. He occupied that position in a full time capacity until 1999 and was ranked number one for Asian strategy in all major industry polls including Institutional Investor from 1997-1999. Since 1999, apart from fulfilling the consultancy role with CLSA, Russell has created and established a new course called A Practical History of Financial Markets (www.sifeco.org), which is taught through the Edinburgh Business School and has been approved by the CFA Institute as part of its Professional Development Program.