The bear book

The Bear Book focuses on protecting assets and minimizing losses during a bear market and on taking advantage of unique opportunities for profit. John Rothchild chronicles the long history of bear markets, exploring in detail exactly what constitutes a bear market and how it affects us. Along with his own expertise, the author draws on respected and knowledgeable names such as Jim Rogers, Jim Grant, and Martin Zweig, among a host of prominent investment advisors, strategists, and fund managers. The result is a comprehensive chronicle that deftly and definitively fills the "bearish information gap."

Rothchild distinguishes the characteristics of past bear markets, examining what triggered them, how long they lasted - and why. He probes the unique psychology of bearish investing, concentrating on which types of investments generally do well during a downturn in the market. His answers to some questions clarify, among other key issues, what can happen to mutual funds in a bear market, and exactly what the dangers are of selling short. Of critical importance is Rothchild's overview of the alternatives to stocks, including gold, bonds, and money market funds, as well as tips on what stocks to buy when the market starts to turn bullish again.

For historical perspective, The Bear Book also includes a unique and eye-opening account of the Crash of '29 and its survivors. Profiles of prominent bearish investors - Roy Neuberger and Philip Carret, among them - contain illuminating long-term perspectives on the ups and downs of the stock market over the past fifty to seventy-five years.