7 Things I Learned from the Book "Bull!"

By Morgan HouselFool.com

I read Maggie Mahar's book Bull!.

It's a wonderful read that details, better than any other book I've come across, the stock market mania that swept the nation during the 1980s and 1990s. Warren Buffett even recommended it in his 2003 letter to shareholders.

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Here are seven things I learned from the book.

1. Mutual fund managers rode the bull market not because theybelievedin it, but because that's what they're paid to do:

2. Saying the bull market was a bubble got old real quick:

3. Bull markets draw in the young, poor, and inexperienced:

4. The bull market was concentrated in a small number of companies:

5. Financial advice exploded. Financial wisdom stayed the same:

6. After the crash, people blamed stock analysts for hyping the market. Some thought this was crazy:

Go buy the book here. It's great.

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The article 7 Things I Learned from the Book "Bull!" originally appeared on Fool.com.

Contact Morgan Housel at mhousel@fool.com. The Motley Fool has a disclosure policy.

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