Riding the Bear

Title: Riding the Bear - How to prosper in the coming bear market
Author: Sy Harding
Publisher: Admas Media Corporation, 1999

This book was published in 1999, discussing the coming bear market in 2000 and beyond. It points out the root cause of the bear market - basically it is a way to curb excess in the market, a natural self-adjustment of the economic law.

The book also pointed out specifically loose credit & heavy debt in the US is going to weigh on the economy. As you read it, basically you will find that whatever people are saying about our current financial crisis in 2008/2009 has been said before, and the same cause caused our last bear market in 2000, and the same cause is causing the crisis in 2008/2009. There is nothing really new in what is happening today. It is just a repeat of history.

The author points to the no moral standard in Wall Street bandits, and the people being put into positions to take care of the country's financial health are the same bandits climbing from Wall Street.

The author also dedicated some pages in discussing LPs, limited partnerships, being sold by the Wall Street bandits to low risk investors. As you read those pages, cold sweat may come down from your head. Those LPs have so much similarity to our REITs, shipping trusts, and of course, the mortage-back securities.

My conclusion after reading this book is that Wall Street and financial industry has failed innocent investors before, and they will fail innocent investors again and again in the future. It really pays to open your eyes wide when you invest your hard-earned money. Some sound knowledge in financial industry history helps too, as the same old tricks are being used under a different name.