Merry Christmas - Book Reviews from Credit Bubble Stocks
5/5 - These Are "Must Read"
- Security Analysis: Sixth Edition, Foreword by Warren Buffett
- Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression (Second Edition) By Robert R. Prechter, Jr.
- Letters from A Self-Made Merchant To His Son - Being the Letters written by John Graham, Head of the House of Graham & Company, Pork-Packers in Chicago
- Manias, Panics, and Crashes: A History of Financial Crises
- Distressed Debt Analysis: Strategies for Speculative Investors by Stephen Moyer
4/5
- Review of Where Is Everybody? Fifty Solutions to Fermi's Paradox and the Problem of Extraterrestrial Life?
- Wilder Shores of Marx
- Review of The Rise and Decline of Nations by Mancur Olson
- Think Twice by Michael Mauboussin
- Investment Fables: Exposing the Myths of "Can't Miss" Investment Strategies by Aswath Damodaran
- The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend by Janet Lowe
- Steve Jobs by Walter Isaacson
- The Futures: The Rise of the Speculator and the Origins of the World's Biggest Markets
- The Hollywood Economist: The Hidden Financial Reality Behind the Movies by Edward Jay Epstein
- The Party: The Secret World of China's Communist Rulers
- The Big Short: Inside the Doomsday Machine by Michael Lewis
3/5
- Review of Not With a Bang But a Whimper: The Politics & Culture of Decline by Theodore Dalrymple
- William Tecumseh Sherman: Gold Rush Banker by D. E Clarke
- The Gold Rush Letters of E. Allen Grosh and Hosea B. Grosh
- Back to Blood by Tom Wolfe
- The Worst Hard Time: The Untold Story of Those Who Survived the Great American Dust Bowl by Timothy Egan
- The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance by Ron Chernow
- The Big Rich: The Rise and Fall of the Greatest Texas Oil Fortunes by Bryan Burrough
- Diary of a Very Bad Year: Confessions of an Anonymous Hedge Fund Manager
- Corporate Financial Distress and Bankruptcy: Predict and Avoid Bankruptcy, Analyze and Invest in Distressed Debt , 3rd Edition by Edward Altman
- Benjamin Graham, Building a Profession: The Early Writings of the Father of Security Analysis
- The Bed of Procrustes: Philosophical and Practical Aphorisms by Nassim Taleb
- American Railroads as Investments by Salomon Frederik van Oss
- Voices from Chernobyl: The Oral History of a Nuclear Disaster
- The Plutonium Files: America's Secret Medical Experiments in the Cold War
2/5
- Once in Golconda: A True Drama of Wall Street 1920-1938 by John Brooks
- There's Always Something to Do: The Peter Cundill Investment Approach
- Petrolia: The Landscape of America's First Oil Boom by Brian Black
- Extreme Value Hedging: How Activist Hedge Fund Managers Are Taking on the World
- No Bull: My Life In and Out of Markets by Michael Steinhardt
1/5
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2 comments:
For what it is worth, I too found Conquer the Crash interesting.
I believe I bought it in 2004. I was predisposed to buy it of course, for that's the year I became a permabear.
Like you, I am also agnostic about EWT.
My one complaint about Prechter would be that he foresaw a deflationary crash yet he offered advice to buy short-term treasury bills (if memory serves).
I opted instead to lock in long-term rates before they fell (TIPS). In hindsight, I have no complaints.
Others clearly did well betting directly on the crash itself. Take Citigroup for example. I owned it from the late 1990s to 2004. It treated me well. Those who still own cannot say the same. Ouch.
I wish I could find a reason to be bullish right now, but I can't. There are just so many exponential trend failures, many of which are 5+ decades in the making.
Even magic pixie dust wouldn't change my opinion that the party ended in 2000. Sigh.
I'm no longer "agnostic" about EWT - it doesn't make falsifiable predictions so it's not really a scientific theory.
But the book and his other thoughts are worthwhile.
Agree that buying 30y Ts yielding 5% would have been the easiest way to play the crash.
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