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BULL! – a book I'm reading now


Maggie Mahar talks about the last big bull run in the US and how it dramatically ended. It’s interesting because I like to see where we are – are we in the beginning, the middle or the very end? Or are we in a bear market?

The answers may not lie in there, but it’s important to note that the equity culture in the US revived in the early 80s, and by the mid 80s it had really started to move. This is where hedge funds started to come in big time as well. I think that’s where we are – looking at the lack of massive local institutions (pension funds and other funds in the US are simply huge), the lack of high quality hedge or risk funds, the unorganised analyst camp and overall, the liquidity issues in the futures and options market.

Intermediate blips aside, we are probably headed for the best, and then the worst, that our investors will ever see.

I’ll write more about Maggie’s book as I go along.


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