The New Reality Of Wall Street - McGraw Hill

Coxe describes the spectacular rise and fall of technology and telecom stocks as a “Triple Waterfall,” a technical analyst’s term for a classic boom-and-bust event. In events like these, vast amounts of wealth change hands from investors to those who profit from the bubble, in this case the upper management of dot-coms and the like who cashed in big at the top by selling stock and exercising stock options. According to Coxe, “Triple Waterfalls aren’t mere bubbles, they are financial pandemics that take not months, not years, but decades to run their course.” His analyses place investors in the 10- to 12-year “final long-term collapse phase,” a treacherous climate most today have never experienced, so few have a clue as how to survive, much less profit in these times. After a reasonable discussion of economic theory, Coxe lays out an investment survival strategy for this environment that includes a consistent approach of diversification and maintenance of an acceptable, if not spectacular, rate of return.

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