The Bear Book: Survive and Profit in Ferocious Markets

John Rothchild's writing style is entertaining and the history of bear markets is a useful antidote for excessive bullishness. But don't be misled, the overall direction of the market over hundreds of years is up, you cannot have a succession of bear markets without intervening bull runs and the bulls run harder than the bears do, otherwise the market would not be higher now than a century ago. I have read a large number of books about the market, most by market participants. One interesting feature of The Bear Book is that it gives context to some of those other writings. For example, I recently read William J. O'Neil's "How to Make Money in Stocks" which leaves you with the feeling that O'Neil is invincible. The Bear Book debunks that notion--good but not invincible. Another interesting tie in, Rothchild tells about the killing made on the bear side by "Marty Martino" (an alias?) of Morgan Stanley in 1987 when his six cent puts rose to $53 each. Marty Martino wouldn't disclose how much he made but Gregory Zuckerman tells the tale of John Paulson's $50 billion profit in "The Greatest Trade Ever." John Paulson went short mortgages via CDSs while Martino went short the market via puts. This is not a how to book but a look at the bear side of the market. I believe all of us unremitting bulls will benefit from taking a look at the other side. I can recommend it.

Someone said that the book doesnt teach how to predict bear markets. I would rate it ridiculous if it aimed at that. No one can. (The market goes where it wants to go remember?)Just like stop losses, shorts are a tool, learn how to use them.This is not a pure technical book ,but it is probably one of the most enjoyable to read about this thing we all love: trading.And if one recomendation is allowed on the technical side: Stock patterns for day trading and swing trading by Barry Rudd (No comissions here, lol)Best regards

The book provides an excellent introduction to bear markets for many readers who have never seen anything but "good times" and uptrends.Rothchild keeps the tone light, & even funny at times. This style is even good medicine after the Year 2000 stock market debacle. It's easy to read, a lot easier than the reality of a bear market itself. If what's presented in the book is new to you, then you will have gained much from its reading.

The author did an eleguant and excellent descripton about the history of the bearish time that USA in general experienced.His knowledge of the world of investment is unquestionable but I was expecting some detail, maybe academic,point of vue about different vehicule of investment. NOT ENOUGH info.in HEDGE FUND.

I am a management accountant but still needed the global view of markets that this book eloquently describes. I began investing in 1992 and never paid attention to the market because I WASN'T IN IT. I have never seen a bear market up close, John really gave me a good look and a readable look. Now, I can study the markets with a broader understanding. Excellent book for me.