Tools of the Bear: How Any Investor Can Make Money When Stocks Go Down

Thorough and well-written. Caes wisely divides the book into 5 sections: Basics, Short Sales, Put Buying, Call Writing and the Markets. Each section has a terrific "common misconceptions" chapter. Caes also points out how to "reverse" the strategy for a bull market. Enron, Lucent, JDS Uniphase, employees of these and other tech firms could have hedged their sadly misallocated 401Ks and stock options with put buying, a topic very well covered here. John Murphy's "Chart Reading Made Easy" an ideal companion for this book. Even relatively short bear market dips as in Jan/Feb 2002 can be the source of surprisingly big profits. "Tools of the Bear" can be hard to find, is well worth the search!