Rating: 
Summary: Right up there!
Review: I have a bookcase groaning with investment books and I rate Mahar's book up with the works of Ben Graham and Peter Lynch. A very well written book that shines a light into many a dark corner. I defy even the most well-read and battle-hardened investor to come away denying that Mahar has produced a book cheap at twice the price.
Rating:
Summary: Cautionary Tale
Review: I have read many self-help financial books over the years, but I must place this one right at the top. Maggie Mahar is a gifted writer and tells her tale with wit and economy. The result is a lot more readable than your typical financial book, but more than that, it exposes the fallacy of many old bromides that I had read in all those other self-help screeds (like "buy and hold"). In fact, as she traces the history of the long bull market that began in 1982 and culminated with the late 90's mania for tech stocks with triple digit PE's, I recognized myself among the many fools who bought into the madness and squandered much of their retirement nest eggs.I found the most valuable investment advice in the book to be the musings of a few experienced money managers who had been through the long and punishing bear market of 1968-1982, and who saw the tech wreck coming. The reminiscences of these investment advisers--people like Gail Dudack, Steve Leuthold, Jean Marie Eveillard and Peter Bernstein--are worth the price of the book many times over. For people who are looking for a self-help investment primer that doesn't sugarcoat the risks, this book is the real deal, without the BULL!
Rating: 
Summary: the story behind the u.s. stock market in the last 12 years
Review: I read "Bull" with much anticipation based on a recommendation in the Berkshire Hathway annual report. The book basically strips away all the glitz of the past 12 years surrounding the U.S. stock market and shows what was really going on. If you were aware what was happening--and many market students were--you probably don't need to read this book, but if you were new to the markets in the late 1990's and got hosed, I would read this book before throwing in the towel on this fun game. On the positive side, "Bull" offers some funny vingettes, including a CLASSIC--almost fable like--story about how the "Last Bear is Gored." Ms. Mahar recounts how Louis Rukeyser, host of America's most popular financial show, fired market analyst Gail Dudak from his program at the very height of the bull market in 1999. The reason: she was the only market analyst left on his program who perisistently predicted lower stock prices ahead. This woman should have been given a raise for her brains! This vingette is a powerful reminder that journalists like Mr. Rukeyser are not to be confused with skilled money managers, and one should be weary of following the advice of ANYONE except those, who like W.E. Buffett, have made lot of money in an honest way in several different market environments over years and years and years (these people do exist!). As Ms. Mahar points out, the media (and analysts at the big brokerage companies!) had and have almost no incentive to report independently derived market analysis. However, I believe at times Ms. Mahar goes too far in blaming the media for financial events over the past 12 years. For example, she belabors the failure of CNBC journalist Mark Haines, who I think overall is one of the better financial journalists, for failing to uncover the scandalous nature of ENRON's books while he was interviewing the CEO. Despite this failure, which several money managers who had millions invested in ENRON also made, I think Mr. Haines was appropriately critical of events that transpired during his tenure at CNBC.
Rating:
Summary: the story behind the u.s. stock market in the last 12 years
Review: I read "Bull" with much anticipation based on a recommendation in the Berkshire Hathway annual report. The book basically strips away all the glitz of the past 12 years surrounding the U.S. stock market and shows what was really going on. If you were aware what was happening--and many market students were--you probably don't need to read this book, but if you were new to the markets in the late 1990's and got hosed, I would read this book before throwing in the towel on this fun game. On the positive side, "Bull" offers some funny vingettes, including a CLASSIC--almost fable like--story about how the "Last Bear is Gored." Ms. Mahar recounts how Louis Rukeyser, host of America's most popular financial show, fired market analyst Gail Dudak from his program at the very height of the bull market in 1999. The reason: she was the only market analyst left on his program who perisistently predicted lower stock prices ahead. This woman should have been given a raise for her brains! This vingette is a powerful reminder that journalists like Mr. Rukeyser are not to be confused with skilled money managers, and one should be weary of following the advice of ANYONE except those, who like W.E. Buffett, have made lot of money in an honest way in several different market environments over years and years and years (these people do exist!). As Ms. Mahar points out, the media (and analysts at the big brokerage companies!) had and have almost no incentive to report independently derived market analysis. However, I believe at times Ms. Mahar goes too far in blaming the media for financial events over the past 12 years. For example, she belabors the failure of CNBC journalist Mark Haines, who I think overall is one of the better financial journalists, for failing to uncover the scandalous nature of ENRON's books while he was interviewing the CEO. Despite this failure, which several money managers who had millions invested in ENRON also made, I think Mr. Haines was appropriately critical of events that transpired during his tenure at CNBC.
Rating:
Summary: the story behind the u.s. stock market in the last 12 years
Review: I read "Bull" with much anticipation based on a recommendation in the Berkshire Hathway annual report. The book basically strips away all the glitz of the past 12 years surrounding the U.S. stock market and shows what was really going on. If you were aware what was happening--and many market students were--you probably don't need to read this book, but if you were new to the markets in the late 1990's and got hosed, I would read this book before throwing in the towel on this fun game. On the positive side, "Bull" offers some funny vingettes, including a CLASSIC--almost fable like--story about how the "Last Bear is Gored." Ms. Mahar recounts how Louis Rukeyser, host of America's most popular financial show, fired market analyst Gail Dudak from his program at the very height of the bull market in 1999. The reason: she was the only market analyst left on his program who perisistently predicted lower stock prices ahead. This woman should have been given a raise for her brains! This vingette is a powerful reminder that journalists like Mr. Rukeyser are not to be confused with skilled money managers, and one should be weary of following the advice of ANYONE except those, who like W.E. Buffett, have made lot of money in an honest way in several different market environments over years and years and years (these people do exist!). As Ms. Mahar points out, the media (and analysts at the big brokerage companies!) had and have almost no incentive to report independently derived market analysis. However, I believe at times Ms. Mahar goes too far in blaming the media for financial events over the past 12 years. For example, she belabors the failure of CNBC journalist Mark Haines, who I think overall is one of the better financial journalists, for failing to uncover the scandalous nature of ENRON's books while he was interviewing the CEO. Despite this failure, which several money managers who had millions invested in ENRON also made, I think Mr. Haines was appropriately critical of events that transpired during his tenure at CNBC.
Rating:
Summary: Warren Buffett isn't often wrong
Review: I read Bull! when it first came out, sometime last Fall, and I recently re-read it after I saw Warren Buffett recommended Bull! in the 2003 Berkshire Hathaway annual report. I enjoyed it even more the second time, and it has led me to rethink some of my investment plans for 2004. Bull! does not pretend to predict the investment future (no book can do that, and everyone--including Buffett--has made, and will continue to make, some investment mistakes) but for any reader interested in an intelligent, historically sound account of the most recent bull run--and what it means for investing in the future--I suggest that you take a look at Bull!.
Rating:
Summary: Great book!
Review: I've read many investment books and this book by far was more enjoyable and educational. She is a great writer and knows her stuff. Highly recommended.
Rating:
Summary: This is a really good book!
Review: If you want to buy 1 book about market history buy this one. This book is really recommended (also by Warren Buffet, see his latest letter to his shareholders). First of all it's nice written. It is easy to follow for not native English readers (so very simple for native English people). This book is recommended if you want to learn something about market history and you think the bear market of 2000-2003 is over. This book covers the bull market of 1982 - 1999. It also covers 1961 - 1982 and 1999 - 2003 and some chapters 'looking ahead'. After you read this book you will be pretty scary about current stock valuations (especially in the US). Especially the 1961 - 1982 give you a 1990 - 2010 feeling. The 1982 - 1999 part (the largest part) gives all major events and importent people (junk bond, netscape, Greenspan, AOL, CNBC, etc). It also covers the dilemmas of mutual fund managers (investment risk vs career risk, and fired fund managers which thought the hype was ending and moved into cash). It also covers how analysts, traders, bankers where thinking and doing in the late nineties. To make it complete it also covers how those people look back (in 2002/2003) at this period and judge their own appearance in the late nineties (e.g. how stupid they where)!!! This book only convers the US stock cycle (but I didn't except something else). It only mention the Japanese bear market. If you're looking for a book about non-US cycles or non-stock cycles (eg commodities) I recommend to buy an another book.
Rating:
Summary: A must read!
Review: Incredible book. After reading this, you will never look at CNBC, the SEC, mutual funds... in short Wall Street the same again. Nor will you be so willing to accept the hype and promises being offered today. The book moves fast and the anecdotes are great. Mahar's style flows so well that I read 3/4 of the book the first day. If you want a history lesson to help you avoid the mistakes of the past, then you should read this book.
Rating:
Summary: Someone looked behind the curtain
Review: Maggie Mahar had the courage to take a look at what was behind all of this religious belief in markets. Clearly I do not understand how she was able to work as a journalist when she has the attitude and mindset of a truth-seeker. I spent some time looking at the difference between her book and Lowenstein's: not even possible to start comparing. One needs to be a trader to value her work.
Read this book now; wait a while then read it again.
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