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Posted February 18, 2013
Even though I believe Hirsch has made a valid prediction on the
Even though I believe Hirsch has made a valid prediction on the future of the markets, he doesn’t do a good job at proving his case. The book lacks the in-depth analysis behind the theory one would expect, and instead lists historical facts and figures as if he pulled his supporting documentation directly off Wikipedia. At times the book reads in the style of Billy Joel’s song "We Didn't Start the Fire," which makes you wonder why you’re reading the book at all.
Regardless I would still recommend buying the book. Most investors are focused on the short term, be it daily, monthly, yearly, or even a decade, yet very few of us ever examine the macro picture covering a century or more. History does repeat itself, and there is an entire group of traders profiting from a repeating pattern in the markets. Hirsch’s theory will open your eyes to many different ways to make money as the markets oscillate between resistance and support, and eventually when the next boom occurs. I just wish he had done the needed analysis to prove his point better.
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