Table of Contents

Foreword by Merryn Somerset Web Preface to the New Edition Introduction Part I August 1921 The road to August 1921 The course of the Dow - 1896-1921 Living with the Fed - A whole new ball game (I) Structure of the market in 1921 The stock market in 1921 The bond market in 1921 At the bottom with the bear - Summer 1921 Good news and the bear Price stability & the bear Liquidity and the bear The bulls and the bear Bonds and the bear Part II July 1932 The road to July 1932 The course of the Dow - 1921-29 Living with the Fed - A whole new ball game (II) The course of the Dow - 1929-32 Structure of the market in 1932 The stock market in 1932 The bond market in 1932 At the bottom with the bear - Summer 1932 Good news and the bear Price stability and the bear Liquidity and the bear The bulls and the bear Bonds and the bear Roosevelt and the bear Part III June 1949 The road to June 1949 The course of the Dow - 1932-37 The course of the Dow - 1937-42 The course of the Dow - 1942-46 The course of the Dow - 1946-49 Structure of the market in 1949 The stock market in 1949 The bond market in 1949 At the bottom with the bear - Summer 1949 Good news and the bear Price stability and the bear Liquidity and the bear The bulls and the bear Bonds and the bear Part IV August 1982 The road to August 1982 The course of the Dow - 1949-68 The course of the Dow - 1968-82 Structure of the market in 1982 The stock market in 1982 The bond market in 1982 At the bottom with the bear - Summer 1982 Good news and the bear Price stability and the bear Liquidity and the bear The bulls and the bears Bonds and the bear Conclusions - Strategic - Tactical - Then and now Epilogue: Russell Napier, 2007 Bibliography Table of figures Acknowledgements

About the Author

Professor Russell Napier is the author of the Solid Ground investment report and co-founder of the investment research portal ERIC (www.eri-c.com). Russell has worked in the investment business for 25 years and has been writing global macro strategy for institutional investors since 1995. Russell is founder and course director of the Practical History of Financial Markets at the Edinburgh Business School. Russell serves on the boards of two listed companies and is a member of the investment advisory committees of three fund management companies. In 2014 he founded the Library of Mistakes, a business and financial history library in Edinburgh. Russell has degrees in law from Queen's University Belfast and Magdalene College, Cambridge, and is a Fellow of The CFA Society of the UK and an Honorary Professor at Heriot-Watt University.

Reviews

"I first read the second book on my list when it was published six or seven years ago and it is one of my favourites on investment. Russell Napier's Anatomy of the Bear is a must-read for anyone who wants to understand the great sweep of investment history and, in particular, why markets suddenly decide to stop falling and start rising again.";- Tom Stevenson, The Daily Telegraph;"a must-read for anyone with even a passing interest in the great sweep of financial history";- Tom Stevenson, The Daily Telegraph;"an outstanding 'must-read' for any student of financial markets";- Marc Faber, author of Tomorrow's Gold;"Here's a cushion for when you hit the bottom.";- The Financial Times;"this is an outstandingly researched and lucidly written book, and with conclusions that are as important as they are compelling."- Bill Jamieson, The Scotsman;"[amongst] the finest minds in Asian finance";- AsiaMoney;"The best investment-related read of the year [2006].";- Bob Yerbury, CIO & CEO of Invesco Perpetual;"[one of the] year's best investment books";- 2008 Stock Trader's Almanac;"Keep this book in mind, for one day it will help you make a lot of money! Russell Napier has written a serious book for serious, patient investors.";- Hugh Sloane, Sloane Robinson LLP;"Napier's cogent, lucid explanation of the similarities and differences between historic financial declines makes this book an essential addition to the education of serious equity investors."- Bill Strong, Equinox Partners and Kuroto Fund;"If you want to make serious money you need to invest when others will not. Russell Napier has done all investors a service by providing a comprehensive examination of exactly these periods.";- Sandy Nairn, Edinburgh Partners;"offers essential advice on how investors can determine what's really going on. Russell Napier's book is an excellent guide";- Financial Sense (Yiannis G. Mostrous);"an incredible resource for anyone wanting to learn from lessons of the past"- Jeff White, President, The Stock Bandit;"An accessible yet thorough examination of bear markets for the investor or trader which provides valuable information on the history of market bottoms.";- Geoffrey H. Gannon / Steven Rosales, Value Blog Review