Panic Profits: How to Make Money When the Market Takes a Dive

A Wall Street survival guide explains the dynamics of market declines, offers advice on protecting investments, and recalls dramatic market reversals in history. Simultaneous.

Brown, a 30-year veteran investor, has edited or published several different investment letters and compiled the handy reference guide 101 Years on Wall Street: An Investor's Almanac (1991), in which he documented wild fluctuations in the Dow Jones average over the past century. He seems particularly interested in the psychological aspects of the stock market and here discusses the nature of financial panics. Expanding on his "Bear Markets since 1890" chapter from 101 Years, he distinguishes between bear markets and panics and advises that panics offer a great opportunity for the investor who possesses both nerve and savvy. Brown's many tips on anticipating market swings and picking winners and losers will improve the savvy for those who can muster the nerve. David Rouse