MI369: The Anatomy of The Bear: Digging Through Financial History w/ Shawn O'Malley | The Intrinsic Value Podcast - The Investor’s Podcast Network | Podwise
This podcast episode analyzes two significant 20th-century bear markets (1921 and 1932) using Russell Napier's book, "The Anatomy of the Bear," as a guide. The host discusses Napier's findings on market bottoms, emphasizing that these events are often preceded by long periods (around 14 years) of undervaluation where stock prices fail to keep pace with economic growth, and that considering inflation-adjusted values is crucial. Specific examples from the 1920s, including the impact of World War I, the Federal Reserve's actions, and the shift from railroad to industrial stocks, illustrate the complexities of market cycles. Listeners gain insights into identifying potential future bear markets and understanding the long-term implications of economic and inflationary trends on stock valuations.
