He admits past faults such as the PE ratio intrinsic value of buying in hopes of outperforming. I really enjoyed his refreshing birds eye view of history which was worth a re-read in itself. Thank you.
This book was referred to in a podcast (I dont remember the name). The book is a window to the investment world of the 1980s. Then it was revised by the author in 2007.
I wanted to see how investors viewed their world at that time, and also how the author felt going into 2007, just a year away from the Great Financial Crisis of 2008.
There are some very old charts dating back to 18th century. It was also interesting to see what the author thought of the ex-US market. At that time, the foreign markets were mostly the UK, Canada, Germany, etc.
Inflation, bear markets and deficits were big topics in the 1980s and the book dwells on them a lot.
Interesting book for readers who like investment history.
[Paper book] I bought this book probably 6 years ago after reading something else by Ken Fisher. Took me forever to get through, I started the book shortly after buying it! But only in the last few months have I set up my paper/ebook reading habit well enough to ever-so-slowly creep through a book every month or two. For this, I forced myself to do 2 charts a day, taking roughly 2 months to finish.
It can be a bit boring and dense on some of the charts, but there are a few gems in here for sure. The book originally came out in 1987 but the updated version came out in 2008, literally just months before the housing bubble crash. With any financial analysis, getting the latest version is a must. In this, he looks back on some of his past predictions and is candid about what worked and what did not. However, I have the privilege of hindsight, reading this in 2020 and there are definitely some interesting predictions that never came true. There are also some warnings that came to be even worse than he expected! His debt/deficit warnings are especially poignant, even before the COVID-19 inspired bailouts of 2020.
Worth the read if you're a stock market nerd but a lot of the concepts shown are beyond most people. You'll definitely learn a lot, I just recommend starting with something more surface level. I recommend Personal Finance for Dummies.