What, if anything, do the most spectacular, high-performance periods of the twentieth-century stock market have in common? And most importantly: Can we predict when they will occur again?

In this fascinating investigation, acclaimed author and financial authority Martin S. Fridson probes the past, leading an exhilarating tour through each of the twentieth-century stock market's golden years. Illuminating, entertaining, and rich in historical anecdotes, Fridson's book treats us to the opinions and investment strategies of some of the most prominent and intriguing figures on the scene.

"Timely, informative, and highly readable . . . It Was a Very Good Year offers wonderful insights into the years that provided spectacular gains in the past. There are important lessons in this book for all investors."-Henry Kaufman, President, Henry Kaufman &Company, Inc.

"A useful and extremely entertaining book. It's loaded with fascinating stock market lore and helpful investment approaches. I learned a lot and thoroughly enjoyed myself along the way."-Byron R. Wien, Managing Director, Investment Strategist for U.S. Equities, Morgan Stanley Dean Witter

"Financial history with a purpose-it is a Very Good Book."-James Grant, Editor, Grant's Interest Rate Observer

"With this book, Marty Fridson joins the ranks of the must-read economic and financial historians. He is that rare combination of scholar, wit, raconteur, and man with an eye on the bottom line. Read it for amusement, education, or profit. You can't lose."-Ben Stein, writer, law professor at Pepperdine University and host of Win Ben Stein's Money

The New York Times has called Martin Fridson "one of Wall Street's most thoughtful and perceptive analysts." In this book, Fridson examines the phenomenon of how every so often a particular financial market takes off beyond anyone's expectations, providing investors with an average return of thirty-five percent or more in a single year. It's a fast-paced, eye-opening investigation of the past that teaches some surprising lessons for spotting golden opportunities in the future.

Hin und wieder gibt es am Aktienmarkt einen starken Aufschwung, der den Investoren überdurchschnittlich hohe Gewinne beschert. "It Was a Very Good Year" versucht zu erklären, warum dies geschieht und wie man künftige Aufwärtstrends erkennt. Der Leser soll lernen, außergewöhnliche Investmentchancen zu sichten. Fridson beschreibt wichtige Persönlichkeiten und erzählt historische Anekdoten, wobei der Schwerpunkt auf der Erkennung wiederkehrenderThemen und zyklischer Ereignisse liegt.

With this book, Marty Fridson joins the ranks of the must-read economic and financial historians. He is that rare combination of scholar, wit, raconteur, and man with an eye on the bottom line. Read it for amusement, education, or profit. You can't lose.-Ben Stein, writer, law professor at Pepperdine University and host of Win Ben Stein's Money

1908.

1915.

1927.

1928.

1933.

1935.

1954.

1958.

1975.

1995.

Epilogue: What Causes the Very Good Years?

Selected Readings.

Index.