People will often write in asking what books we at Financial Sense recommend. The problem is, we conduct so many book interviews on our Financial Sense Newshour podcast on a variety of topics—economics, investing, health, technology, etc—that it's tough to sift through the haystack of possibilities. That said, there are times when a particular book is just dying to be read...and right now is one of those times.
As Jim Puplava discussed on our show over the weekend, every investor should read The Art of Contrary Thinking by Humphrey Neill.
Why? Well, because, as we've discussed for years, one of the tell-tale signs that we are in the final phase of a market bubble is when the public jumps in and finally embraces the bull market, as we see today. Neill not only recounts this historical principle extremely well but, more importantly, instructs us how to remain immune from it, which is imperative if you want to be an objective, sober-minded, and, hopefully, more successful investor.
Keep in mind, this book was originally written in 1954 and is now in its twelfth print. It is timeless and, as Jim Puplava said on Saturday's Big Picture podcast, When the Music Stops, Who Will Have a Chair?, with public euphoria towards the stock market now kicking in, it is becoming more and more important to think like a contrarian.
Click here to buy The Art of Contrary Thinking on Amazon.
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