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Rating: 
Summary: Excellent, hard-hitting, thought-provoking, wake-up call
Review: I can't understand why this book is listed out of print. Why aren't more people demanding this book? Maybe there aren't enough investors yet who are worried about the safety of their money.Just recently (Sept 99) a few money market funds ran into a bit of trouble - exactly the kind of trouble described in this book. Are you still assuming that your money market fund is safe and that a fixed NAV of $1 will be maintained? The book definitely opened up my eyes to other alternatives for places to put money. Because of this book I've rediscovered alternatives like Treasury Bills and savings bonds. However I did question the author's suggestions for a self-directed portfolio containing municipal bonds and widely held stocks. After the Orange County, California fiasco I would not consider municipal bonds. And I would question the idea of holding the same widely-held stocks that the institutional investors hold.
Rating:
Summary: This book offers perspective
Review: This book shows a breadth of knowledge and depth of investigation that is rarely offered to the investing public. The fact that the book ends with a chapter on Further Reading indicates that the author respects the intelligence of his readers and is interested in what he is writing. A book of this quality shows by example how much junk is out there, yet the author is modest and always seeks to help the reader, not exhort. I read it after the onset of the two year bear market and in some ways, not all of the predictions have been met yet, making this book still worth your reading. The persistent heavy volume of trading in the QQQs and the recent snap back rally (5/2002)suggest that the public is seeking further punishment and the crisis is not yet matured. I hope the author rewrites it with the current changes in the market in mind: iShares, ETFs, gold and the rediscovery of the emerging market (only a rediscovery to the amnesiac). His style is intelligent and refreshing. You'll need to read it carefully, since some ideas only appear fully developed in a single passage. I couldn't put it down.
Rating:
Summary: Excellent, hard-hitting, thought-provoking, wake-up call
Review: This is a book that should be read by anyone that considers themselves to be PRUDENT investors. When people say they are LONG-TERM investors, do they really know what they are saying? What do they mean? Do they realize that a dollar invested today may be worth 1.25 in 6 months -(due to the mania of this market) - but only worth 50 cents in 5 or 10 years? It could likely be worse than that. These mutual funds are being run by young hot shots that have no concept of doing anything but putting "money to work" (buying) due to the massive influx of money pouring in over the years. All reasonable valuation models have been trashed and "investors" have become extremely complacent because it's been so easy to "make" money. Sorry, it's not that easy or realistic! The selling will soon come in waves. Be wise and prepare youself for what will go down in history as the worst bear market ever, followed by a worldwide depression. Best of luck to all! P.S. I also recommend a book called "THE WARNING" by Joseph Granville and "THE GREAT CRASH of 1929" by John Galbraith. The parallels between then and now are too striking to ignore. So don't be one of the mindless herd.................
Rating: 
Summary: THIS STOCK MARKET BUBBLE WILL SOON BURST!
Review: This is a book that should be read by anyone that considers themselves to be PRUDENT investors. When people say they are LONG-TERM investors, do they really know what they are saying? What do they mean? Do they realize that a dollar invested today may be worth 1.25 in 6 months -(due to the mania of this market) - but only worth 50 cents in 5 or 10 years? It could likely be worse than that. These mutual funds are being run by young hot shots that have no concept of doing anything but putting "money to work" (buying) due to the massive influx of money pouring in over the years. All reasonable valuation models have been trashed and "investors" have become extremely complacent because it's been so easy to "make" money. Sorry, it's not that easy or realistic! The selling will soon come in waves. Be wise and prepare youself for what will go down in history as the worst bear market ever, followed by a worldwide depression. Best of luck to all! P.S. I also recommend a book called "THE WARNING" by Joseph Granville and "THE GREAT CRASH of 1929" by John Galbraith. The parallels between then and now are too striking to ignore. So don't be one of the mindless herd.................
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