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Amazon.com Amazon.com Review (ISBN 0767923634, Paperback)CNBC, day trading, the Motley Fool, Silicon Investor--not since the 1920s has there been such an intense fascination with the U.S. stock market. For an increasing number of Americans, logging on to Yahoo! Finance is a habit more precious than that morning cup of joe (as thousands of SBUX and YHOO shareholders know too well). Yet while the market continues to go higher, many of us can't get Alan Greenspan's famous line out of our heads. In Irrational Exuberance, Yale economics professor Robert J. Shiller examines this public fascination with stocks and sees a combination of factors that have driven stocks higher, including the rise of the Internet, 401(k) plans, increased coverage by the popular media of financial news, overly optimistic cheerleading by analysts and other pundits, the decline of inflation, and the rise of the mutual fund industry. He writes: "Perceived long-term risk is down.... Emotions and heightened attention to the market create a desire to get into the game. Such is irrational exuberance today in the United States."
By history's yardstick, Shiller believes this market is grossly overvalued, and the factors that have conspired to create and amplify this event--the baby-boom effect, the public infatuation with the Internet, and media interest--will most certainly abate. He fears that too many individuals and institutions have come to view stocks as their only investment vehicle, and that investors should consider looking beyond stocks as a way to diversify and hedge against the inevitable downturn. This is a serious and well-researched book that should read like a Stephen King novel to anyone who has staked his or her future on the market's continued success. --Harry C. Edwards
(retrieved from Amazon Thu, 12 Mar 2015 18:06:34 -0400)
"In January 2000, an Ambassador taxi twisted its way up the narrow road leading towards Dharamsala in the Himalayan foothills of northern India - the home-in-exile of the Dalai Lama. Inside was a fourteen-year-old boy, the 17th Gyalwa Karmapa, one of the most important figures in Tibetan Buddhism. His arrival was the culmination of an extraordinary escape that had brought him 900 miles across the Himalayas, in conditions of high danger, from the monastery in Tibet where he had lived since he was seven years old." "The Karmapas, the great wisdom teachers and miracle workers of Tibetan Buddhism, are the oldest line of identifiable reincarnates in Tibet, older even than the Dalai Lamas. When the 17th suddenly appeared in Dharamsala, everyone was taken by surprise - the global media, the Chinese government, his devotees around the world.". "Fascinated by this charismatic young figure, Mick Brown travelled to Dharamsala to meet him, and found himself drawn into the labyrinthine - not to say surreal - web of intrigue surrounding the 17th Karmapa's recognition and young life. The Karmapas traditionally leave a letter before they die, predicting exactly where their next incarnation will be found. The discovery of the 17th in 1992 shook the foundations of the Karmapa lineage, and was followed by the appearance of a contestant to his throne.". "In this feud of Byzantine complexity, Mick Brown gains unique access to both sides, following each twist in the tale with clarity and zest. Here are stories of miracles and allegations of murder, political conspiracy and the settling of two hundred-year-old scores. Piety jostles with greed, truth with falsehood, the strength of human aspiration with the frailty of human nature. And at the centre of it all is the extraordinary figure of one of the great spiritual teachers of the coming age: the 17th Karmapa."--BOOK JACKET.
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