You are previewing The Wall Street Waltz: 90 Visual Perspectives, Illustrated Lessons From Financial Cycles and Trends, Revised and Updated Edition.
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The Wall Street Waltz: 90 Visual Perspectives, Illustrated Lessons From Financial Cycles and Trends, Revised and Updated Edition

Book Description

The Wall Street Waltz

Introducing the new Fisher Investment SeriesComprised of engaging and informative titles written by renowned money manager and bestselling author Ken Fisher, this series offers essential insights into the worlds of investing and finance.

"Any investor who fails to read and heed Ken Fisher's book will have only himself (or herself) to blame if he loses his shirt in the market. Using simple words and dramatic charts, Fisher packs a whole financial education into one neat package."

James W. Michaels, Editor Emeritus and Group Vice President-Editorial, Forbes, Inc.

"Ken's book vividly presents a complete picture of the stock market's history-a vital tool for the savvy investor."

Charles R. Schwab, founder, Chairman, and CEO, The Charles Schwab Corporation

"If a picture is worth a thousand words, then these charts could be worth your life savings."

William E. Donoghue, Chairman, W. E. Donoghue Co., Inc.

"Ken Fisher's clear, insightful analysis makes this a compelling book. For information and entertainment, this is a book to turn to again, and again, and again."

David Dreman, founder, Chairman, and CIO, Dreman Value Management, LLC

Table of Contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. Dedication
  5. Contents
  6. Acknowledgments
  7. A Reintroduction to the Waltz
  8. Introduction to the Previous Edition
    1. Birth of an Idea, Birth of a Book
    2. About the Charts
    3. Using This Book
    4. The Electronic Pulse
    5. Worldwide Finance
    6. One Step at a Time
  9. PART 1: STOCK MARKET VISUALIZATIONS
    1. Stock Market Strategy
    2. Wall Street: One Road Around the Globe
    3. Investment Lessons
    4. The Old and the New
    5. Author's Note: 2007
    6. Chart 1: Price/Earnings Ratios: Then and Now
    7. Chart 2: In Case You Didn't Get It the First Time
    8. Chart 3: Earning a Good Return in the Market
    9. Chart 4: Earnings Yields: Stocks versus Bonds
    10. Chart 5: Price/Dividend Ratios Provide Long-Term Vision
    11. Chart 6: Price-to-Book Ratios: Playing It by the Book
    12. Chart 7: Price/Cash Flow Ratios: A Hidden Twist
    13. Chart 8: An Advertisement for Super Stocks and Forbes
    14. Chart 9: Mr. and Mrs. Financial—Real Split Personalities
    15. Chart 10: Never a Timer Be: 56 Years of Stocks and Interest Rates
    16. Chart 11: Value Line Industrial Composite: All the Stats That Are Fit to Print
    17. Chart 12: Wealth Indexes for Classes of Securities, and the Winner Is . . .
    18. Chart 13: Invest Overseas and Diversify?
    19. Chart 14: Stock Prices Abroad: Seven More Market Mirrors
    20. Chart 15: The 51st Estate
    21. Chart 16: Stock Prices versus GNP
    22. Chart 17: The Premium Price of Growth
    23. Chart 18: Growth-Stock Gyrations
    24. Chart 19: “IPO” Means It's Probably Overpriced
    25. Chart 20: “Wake Up, Folks”
    26. Chart 21: Takeover Tactics in Relation to Assets
    27. Chart 22: The Silent Crash No One Noticed
    28. Chart 23: Moving with the Moving Average
    29. Chart 24: All the News That's Fit to Print
    30. Chart 25: Stock Prices versus Recessions
    31. Chart 26: Nine Major Stock Market Cycles
    32. Chart 27: Roaring Twenties Revisited?
    33. Chart 28: Price/Earnings Ratios Can Be Deceiving
    34. Chart 29: A Clear Warning
    35. Chart 30: The Big Boys Don't Always Buy Cheap
    36. Chart 31: Preferred Stocks Shouldn't Be
    37. Chart 32: The 2 Percent Rule
    38. Chart 33: Remember What the Rich Man Forgot
    39. Chart 34: Monthly Railroad Prices, 1843–1862
    40. Chart 35: Financial Fluctuations in the 18th Century? You Can Bank on It!
    41. Chart 36: Charting the South Seas
    42. Chart 37: 190 Years of Stock Market Movements
    43. Chart 38: Do You Figure They Earned Their Keep?
    44. Chart 39: Two Ways to Make a Million
  10. PART 2: INTEREST RATES, COMMODITY PRICES, REAL ESTATE, AND INFLATION
    1. Interest Rate Movements
    2. Other Lessons about Interest Rates
    3. The Role of Inflation
    4. A Hard Look at Real Estate and Commodities
    5. Author's Note: 2007
    6. Chart 40: The Interest-Rate Shuffle
    7. Chart 41: Long-Term Interest Rates: Four Countries in the World Economy
    8. Chart 42: There Seems to Be a Bond Between These Yields
    9. Chart 43: The Snake
    10. Chart 44: Why the Interest in Oil?
    11. Chart 45: High Interest Rates Have Been a Recurring Nightmare
    12. Chart 46: 125 Years of the Counsel of the Consols
    13. Chart 47: The Source of England's Stiff Upper Lip
    14. Chart 48: When High Is Low—and Vice Versa
    15. Chart 49: Comparing Domestic and English Wholesale Prices
    16. Chart 50: Prices in Southern England
    17. Chart 51: Wholesale Inflation
    18. Chart 52: Inflation—The American Experience
    19. Chart 53: Gold: The Litmus Test for Commodity Prices
    20. Chart 54: Prices in Three Countries
    21. Chart 55: A Lesson in Avoiding Wars
    22. Chart 56: No Place to Go but Up?
    23. Chart 57: Long-Term Gold Holders Get the Cold Shoulder
    24. Chart 58: The Long Cycle in Real Estate Activity
    25. Chart 59: Rural Real Estate: The True Story
    26. Chart 60: And It Never Was, Either
    27. Chart 61: U.S. Housing Prices
  11. PART 3: ANALYZING BUSINESS CYCLES, GOVERNMENT FINANCE, AND QUACKERY
    1. The Debt and the Deficit
    2. Antibusiness Myths
    3. Other Outcries
    4. QuackeryCharts
    5. Putting It in Perspective
    6. Author's Note: 2007
    7. Chart 62: The One-Minute Economic Cheat Sheet
    8. Chart 63: What Do You See in This Pattern?
    9. Chart 64: Unemployment and the 1 Percent Rule
    10. Chart 65: Cars Crash, Too!
    11. Chart 66: Housing Starts: An Inverted Look
    12. Chart 67: Breadlines in Britain
    13. Chart 68: A Capital Spending Myth
    14. Chart 69: South African Gold: How Important?
    15. Chart 70: Is Labor Really Overpaid?
    16. Chart 71: Electricity Use and Economic Growth
    17. Chart 72: Crude Oil Supply: A Tale of Government Involvement
    18. Chart 73: Texans Weren't the First to Ride—The Learning Curve
    19. Chart 74: In the Know, Or Heavily Snowed?
    20. Chart 75: Taxes: The Customs of Our Evolution
    21. Chart 76: Government Growth: The Big Picture
    22. Chart 77: State and Local Taxes on a Steady Course
    23. Chart 78: The States Are Revolting
    24. Chart 79: You Can't Put a Number on It
    25. Chart 80: The Myth of Federal Taxes
    26. Chart 81: Balancing the Budget with Hot Air
    27. Chart 82: Uncle “Fat Cat” Sam's Real Estate Scam
    28. Chart 83: Defense Expenditures and the GNP
    29. Chart 84: The Economic Cycle Economists Deny
    30. Chart 85: Sunspots
    31. Chart 86: Bear Markets versus Bare Knees
    32. Chart 87: Don't Buy Nuttin' What Eats
    33. Chart 88: Wall Street Witch Doctors
    34. Chart 89: Flukes of Nature and Finance
    35. Chart 90: Don't Lose Your Hide in the Market
    36. Conclusion
      1. Beating the Market
      2. Getting the Facts
      3. Learning the Dance
      4. Author's Note: 2007
  12. APPENDIX A: MYTHS TO FRIGHTEN CHILDREN
  13. APPENDIX B: UPDATED CHARTS
    1. Chart 18: Supply and Demand—the Real Drivers
    2. Chart 74: Debt, the Federal Government, and Heroin Addicts
    3. Chart 83: Scale It to See It
    4. Chart 84: Predicting Communism's Demise
  14. Index