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Anatomy of the Bear: Lessons from Wall Street's four great bottoms by Russell Napier

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The road to August 1982

In the sweltering summer of 1949, with Wall Street languishing in the doldrums, New Yorkers cooled off in open-air cinemas watching the big summer release, The Girl From Jones Beach. They watched as the lead character, Bob Randolph, a magazine illustrator, created the “perfect girl” only to later meet her living personification on Jones Beach. Randolph seized the situation and, posing as a lowly Czech immigrant to ingratiate himself with the girl, tried to profit from the promotional opportunities. Despite fully utilising the talents of Virginia Mayo, the movie flopped. However, the actor who played Randolph fared much better and, by 1982, Ronald Reagan was president of the United States. The country had changed somewhat ...

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