Must read books for a good laugh
If you’re looking for a good laugh over the weekend, you might try Dow 36,000 by James Glassman, just hired as custodian of the George W. Bush legacy (hat tip Scott). It’s about the new strategy for profiting from the huge rise in the stock market. Here’s what Wikipedia says:
The argument of Glassman and Hassett has been summarised by John Quiggin, writing in the Australian Financial Review.
- Glassman and Hassett believe that both investors and official commentators have misperceived stocks as a risky investment which should require a premium return, when compared to ‘safe’ investments such as government bonds.
- If stocks and bonds were treated as equally risky, Glassman and Hassett argue, the Dow Jones index would be around 36000. Hence, anyone who gets in now and stays for the long haul, can expect returns of around 300 per cent (in addition to the normal interest rate) as the rest of the market wakes up. Once this historic correction is over, the efficient markets hypothesis will hold sway
Sounds pretty hilarious!
If you don’t bust a gut reading that one, I have a few others I recommended last year right here. They are definitely laugh out loud funny.