Anatomy of the Bear

by: Barry Ritholtz

Time to brush up on what happens during a Bear Market, via Anatomy of the Bear.

"How does one spot the bottom of a bear market? What brings a bear to its end? Financial market history is a guide to understanding the future."

Looking at the four occasions when US equities were particularly cheap - 1921, 1932, 1949 and 1982, Russell Napier sets to answers these questions by analyzing every article (70,000!) in the Wall Street Journal of either side of the market bottom.

Can this method help one to understand the features which indicate that a great buying opportunity is emerging?

By looking at how markets really did work in these bear-market bottoms, rather than theorizing how they should work, the author offers a how-to guide.

Anatomy of the Bear: Lessons From Wall Street's Four Great Bottoms
Russell Napier
December 5, 2005