The Wall Street Waltz [Hardback]90 Visual Perspectivesby Kenneth L. FisherThis book is OUT OF PRINT You may be able to find a copy at ABE Books Description of The Wall Street WaltzNothing has really changed on Wall Street over the years. In fact, much of what happens in the financial world today has been played over in history many times before and has been captured in the cycles and trends of financial charts created over time. Understanding the movements within these charts provides a clear perspective of today's markets and can aid you in your investment decisions tomorrow.Kenneth L. Fisher, one of America's leading investment managers and financial columnists has assembled 90 of the most revealing and provocative financial charts ever assembled in one volume. Many of the charts are snapshots of modern financial markets that show you how stocks relate to sales, earnings, dividends, cash flows, and assets. Others include turn-of-the-century originals, and new charts of even older events, like the 1720 South Sea Bubble. In each case, Fisher provides what he calls a visualisation in which he analyzes each chart according to its origin, historical significance, and most importantly, its relevance to today's market. For example, you will learn that: as a long term investment, the S&P 500 has traditionally outperformed bonds, treasury bills, and even real estate. Foreign stock exchanges often foreshadow movements in the American market, as was vividly illustrated before the great crash of 1929. Today's much-criticized national debt, when measured as a percentage of GNP, is actually less than it was 20 or even 30 years ago. The charts serve as a fascinating collection of portraits of financial history. You'll learn the timeless lessons of Wall Street and gain a new perspective of this highly orchestrated dance known as the Wall Street Waltz. Title Information
Write a review of this book Customer Reviews from AmazonContents of The Wall Street WaltzPART ONE: STOCK MARKET VISUALIZATIONS1. Price/Earnings Ratios: Then and Now Dow Jones Industrials Price/Earnings Ratio, 1915-1986 2. In Case You Didn't Get It The First Time The Stock Market vs Its P/E Ratio, 1871-1937 3. Earning a Good Return in the Market The Long Term Tie Between Earnings and Stock Prices, 1926-1971 4. Earnings Yields: Stocks Versus Bonds Earnings Yield on the S&P 500 vs Yield on High-Grade Corporate Bonds, 1946-1974 5. Price/Dividend Ratios Provide Long-Term Vision Price/Dividend Ratios, 1920-1985 6. Price-to-Book Ratios: Playing It By The Book The Market's Price-to-Book ratio, 1921-1986 7. Price/Cash Flow Ratios: A Hidden Twist S&P 400 High Annual Price/Cash Flow ratio 1945-1986 8. An Advertisement for Super Stocks and Forbes Sears, Roebuck & Company's Stock Price, 1926-1955 9. Mr and Mrs Financial - Real Split Personalities Railroad Stocks and Bonds, 1860-1935 10. Never a Timer Be: 56 Years of Stocks and Interest Rates Short-Term Interest rates vs the Stock Market, 1919-1978 11. Value Line Industrial Composite: All the Stats That Are Fit to Print ValueLine Industrial Composite, 1970-1986 12. Wealth Indexes for Classes of Securities, and The Winner Is . . . Wealth Indexes of Investments in the US Capital Markets, 1925-1985 13. Invest Overseas and Diversify British Stocks vs Dow Jones Industrials, 1958-1977 14. Stock Prices Abroad: Seven More Mirrors Stock indexes in Seven Countries, 1970-1980 15. The 51st estate Canadian vs US Stock Prices, 1962-1971 16. Stock prices Versus GNP Stock Market Indexes and Variations in GNP, 1955-1974 17. The Premium Price of Growth Price/Earnings Multiples of Emerging Growth Stocks as a Percentage of the S&P 500 P/E, 1960-1986 18. Growth Stock Gyrations Hambrecht & Quist Growth Index, Hambrecht & Quist Technology Index, Standard & Poor's 400, January 1970 to September 1986 19. 'IPO' means It's Probably Overpriced Number of Initial Public Offerings, 1969-1985 20. 'Wake Up Folks!' Stocks vs. Five Investment Alternatives, 1975-1985 21. Takeover tactics in Relation to Assets Stocks, Inflation and Merger and Acquisitions Activity, 1968-1984 22. The Silent Crash No One Noticed The Dow Jones Industrial Average as Adjusted for Inflation, 1920-1985 23. Moving with the Moving Average The 40-week Moving Average of the Dow Jones Industrial Average, 1965-1977 24. All the News That's Fit to Print Stock Prices vs. News Items, 1949-1977 25. Stock Prices vs. Recessions Standard & Poor's Index of 500 Common Stocks and Cyclical Declines in the Economy, 1948-1977 26. Nine Major Stock Market Cycles Long-Term DJIA Showing Bull and Bear Trendlines, 1929-1977 27. Roaring Twenties Revisited? Comparison of Dow Jones Industrials of the 1920s vs. the 1980s 28. Price/Earnings Ratios Can Be Deceiving Price/Earnings Ratio, 1928-1929 29. A Clear Warning Stock Price Indexes, 1928-1929 30. The Big Boys Don't Always Buy Cheap Mergers Record, 1919-1928 31. Preferred Stocks Shouldn't Be Comparison of Industrial Common and Preferred Stocks, 1908-1932 32. The 2 Per Cent Rule Tha Panic of 1907 33. Remember What The Rich man Forgot The Average Market price of the 20 leading Railroad and 12 Leading Industrial Stocks and of the 5 Standard Bonds, 1896-1912 34. Monthly railroad Prices, 1843-1862 Indexes of rail Road Prices, Monthly, 1843-1862: index (8 Selected Stocks), 1843-1852; index IIc (18 Selected Stocks), 1953-1862; and All-Inclusive index, 1843-1862 35. Financial Fluctuations in the 18th Century? You Can Bank On It! The Bank of England - Stock prices, 1732-1846 36. Charting the South Seas The South Sea Bubble, December 1719 to October 1720 37. 190 years of Stock Market Movements Annual Average Stock Prices, 1790-1980 38. Do You Figure They Earned Their Keep? Annual rates of Return on Common Stocks, 1925-1976 39. Two Ways to make a Million Two Examples of the Power of Compound Interest PART TWO: INTEREST RATES, COMMODITY PRICES, REAL ESTATE, AND INFLATION 40. The Interest-Rate Shuffle Long-Term vs. Short-Term Interest rates, 1950-1975 41. Long-Term Interest Rates: Four Countries in the World Economy 42. There Seems to Be a Bond Between These Yields Bond Interest and Common Stock Yields of Four Countries, 1960-1980 43. The Snake AA Bond rates Compared to the S&P 400 Earnings, 1960-1986 44. Why The Interest in Oil? Yield on 20-Year Treasuries and Price of Crude Oil, 1973-1986 45. High Interest Rates Have Been A Recurring Nightmare US Money rates, Prime Commercial Paper, 1841-1980 46. 125 Years of Counsel of the Consols A Comparison of Yields on Consols and US Railroad Bonds, 1860-1980 47. The Source of England's Stiff Upper Lip Long-Term Interest Rates, UK, 1731-1970 48. When High is Low and Vice Versa Historical Record of Real Interest rates, 1790-1980 49. Comparing Domestic and English Wholesale Prices Wholesale Prices in England vs. the United States, 1782-1930 50. Prices in Southern England Price Index of Southern England, 1290-1950 51. Wholesale Inflation Wholesale Prices: All Commodities - Yearly Averages, 1749-1980 52. Inflation - The American Experience United States Consumer Price Index, 1790-1985 53. Gold: The Litmus Test for Commodity Prices Prices, in Currency and Gold, of 40 basic Commodities in Different Countries 54. Prices in Three Countries Retail Prices in Germany, England and the United States, 1860-1910 55. A Lesson in Avoiding Wars Effect of Wars on US Wholesale Prices 56. No Place to Go But Up? Commodity Prices, 1982-1986 57. Long-Term Gold Holders Get the Cold Shoulder 200 Years of American Gold Prices, 1781-1981 58. The Long Cycle in Real Estate Activity Idealized 18 1/3-Year Real Estate Cycle, 1870-1955 59. Rural Real Estate: The True Story Changes in Average Value of Farm Real Estate per Acre, 1981-1985 60. And It Never Was, Either Trend in US Farm Real Estate Prices, 1919-1976 61. US Housing Prices Single Family House Price Index, 1890-1980 PART THREE: ANALYZING BUSINESS CYCLES, GOVERNMENT FINANCE, AND QUACKERY 62. The One-Minute Economic Cheat Sheet American Business Activity, 1790-1986 63. What Do You See in This Patter? Conspectus of Business Cycles in Various Countries. 1790-1925 64. Unemployment and the 1 Per Cent Rule Unemployment Rate for Civilian Workers 1948-1983 (seasonally adjusted) 65. Cars Crash, Too! New Auto sales, Domestic Type (excluding imports), 1945-1983 66. Housing Starts: An Inverted Look Housing Starts and real Residential Fixed Investment, 1950-1979 67. Breadlines in Britain English Unemployment, 1850-1914 68. A Capital Spending Myth Expenditures for Business Plant and Equipment as a Percentage of the Privately Produced Gross National Product, 1900-1960 69. South Africa Gold: How Important? Total World Gold Production, 1950-1983 70. Is Labor Really Overpaid? Changes in the Equivalent of the Wage Rate of a Building Craftsman Expressed in a Composite Unit of Consumables in Southern England, 1264-1954 71. Electricity Use and Economic growth Kilowatt-Hour Sales of the Electric Industry vs Gross National Product or Expenditure 72. Crude Oil Supply: A Tale of Government Involvement Domestic and Imported Crude Oil Supply, 1950-1979 73. Texans Weren't The First to Ride - The Learning Curve Accumulated Knowledge vs Costs, Electric Utility Industry, 1896-1912 74. In the Know, or Heavily Snowed? Net Public Debt as a Percentage of GNP, 1930-1986 75. Taxes, The Customs of Our Evolution Sources of Federal Revenue, 18783-1940 76. Government Growth: The Big Picture Public Finance, 1790-1953 77. State and Local Taxes on a Steady Course State and Local tax Sources, 1960-1979 78. The States are Revolting Federal and State-Local Expenditures, 1954-1983 79. You Can't Put a Number On It The Laffer Curve 80. The Myth of Federal taxes Taxes and Spending and Their Relation to GNP, 1965-1987 81. Balancing the Budget with Hot Air Federal Income Taxes, 1909-1987 82. Uncle 'Fat Cat' Sam's Real Estate Scam Approximate Area of Federal Lands in the United States, 1781-1960 83. Defense Expenditures and the GNP Defense Budget as a Percentage of GNP, 1945-1986 84. The Economic Cycle Economists Deny The Kondratieff Wave, 1780-1986 85. Sunspots Sunspots, 1755-1978 86. Bear Markets vs Bare Knees The Hemline Indicator, 1897-1986 87. Don't Buy Nuttin' What Eats Average Thoroughbred Yearling Prices Compared to Dow Jones Industrials Yearly Close, 1970-1980 88. Wall Street Witch Doctors Exponential Upsweep of Dow Industrials, 1926-1962+ 89. Flukes of Nature and Finance The 9.6 Year Cycle of Acreage of Wheat Harvested, 1860-1970 90. Don't Lose Your Hide in the Market Cycles of Hide and Leather Prices CONCLUSION APPENDIX: Myths to Frighten Children INDEX |
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