FINANCIAL RECKONING DAY

Metaphors are better than mathematical models at explaining stock prices, the author says, because the perception of value turns on emotional variables, not logical ones. Using examples from times of boom and bust, he pokes fun at financial writers and brokers who have made horrible predictions. His disdain for such errors is bolstered by hard financial data and lucid analysis. (He's a master at hindsight.) Fortunately, most of this sardonic tone is softened by narrator Richard Harries. The author's point is that hype and overvaluation will continue bamboozling investors in the years ahead, so one should approach all investments with caution (and sign up for his latest views on his Web site). T.W. © AudioFile 2005, Portland, Maine [Published: OCT/NOV 05]