The people who buy books like this miss the point. Bear market greatness means making money by selling stocks, and although you can buy cheap stocks, that is not the point, the point is to be able to turn them over for a profit before the next drop. The 2008 version of this book failed in a practical sense because it never considered that shorting stocks would have been the best approach to protecting stock assets and generating a return. Any investment can become overvalued, that is the essential component of benefiting from your holdings holding on for the long-term doesnt work as well as disposing of assets as they become significantly overvalued.