Title: Investing for the Naive
Review: The basic premise here is that stocks are being revalued as a riskless bond based on the discounted present value of expected future cash flows. Irrational Exuberance is far too reserved to describe this naive concept. Totally ignored is the fact that bondholders have first priority to assets in bankruptcy proceedings. And 500 years of a risk premium for stocks cannot be discarded like so many pampers. So much for riskless. And the investment advice here is for novices as well, ignoring the time delays when stocks are recommended in books instead of electronic media. This title is a prescription to attempt to sell a lot of books. Dow 36,000? Talk to me at the next recession.
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