BULL!: A History of the Boom, 1982–1999: What Drove the Breakneck Market—and What Every Investor Needs to Know About Financial Cycles

Maggie Mahar, Author . Harper Business $26.95 (486p) ISBN 978-0-06-056413-1

Financial journalist Mahar offers a thorough and accessible history of the explosive 1982–1999 bull market that is illuminating as well as sobering from the current bear market persspective. She notes that most people swept up in the euphoria of this latest market surge failed to recall the lessons of 1929–1934 and 1970–1974, when earlier bubbles collapsed and investors lost heavily. Citing studies by esteemed economists John Kenneth Galbraith and Charles Kindleberger, Mahar reminds readers that this self-blinding euphoria is a regular feature of every bull market. In vivid detail, she documents the trends and outsized personalities that fueled this particular bull market, including the surge of leveraged buyouts of 1984–1987, the mania for junk bonds, falling short-term interest rates, the rush of individual investors into 401(k) retirement plans, the power (and appetites) of mutual funds and the media frenzy that lent an unlikely allure to quarterly corporate earnings reports. As the runup in stock prices gained momentum in the late 1990s while evidence of corporate accounting shenanigans mounted, Mahar's account assumes the compelling power of an oncoming train wreck. Survivors of the recent market meltdown can profit from Mahar's assertion: "Ultimately, secular bear markets teach investors to learn to manage risk in a different way, focusing not on the odds, but on the size of risk." Individual investors will also gather that they need to be more skeptical of some sources of "information" and to be much better informed not to be burned again. Charts. (Nov.)

Forecast: National broadcast and media campaigns (including a 25-city national radio and 15-city NPR) will grab the attention of investors, and Mahar's unblinking assessment of the self-delusions rampant during a bull market will help many understand how the golde n egg they thought they held now has begun to smell rotten.

Reviewed on: 10/06/2003
Release date: 10/01/2003
Show other formats
Paperback - 512 pages - 978-0-06-056414-8
Open Ebook - 528 pages - 978-0-06-158133-5
Peanut Press/Palm Reader - 528 pages - 978-0-06-158136-6
Ebook - 528 pages - 978-0-06-158137-3
Ebook - 528 pages - 978-0-06-185313-5
Stay ahead with
Tip Sheet!
Free newsletter: the hottest new books, features and more
Only $18.95/month for Digital Access
or $20.95 for Print+Digital Access!
Only $18.95/month for Digital Access
or $20.95 for Print+Digital Access!
Email Address


Log In Lost Password

PW has integrated its print and digital subscriptions, offering exciting new benefits to subscribers, who are now entitled to both the print edition and the digital editions of PW (online or via our app). For instructions on how to set up your accout for digital access, click here. For more information, click here.

The part of the site you are trying to access is now available to subscribers only. Subscribers: to set up your digital subscription with the new system (if you have not done so already), click here. To subscribe, click here.

Email pw@pubservice.com with questions.

Not Registered? Click here.