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Presents a discussion between two financial advisors concerning the state of the U.S. stock market as of August 1998. View of Barton M. Biggs, chairman of the company Morgan Stanley Asset Management, on the future of the stock market; Advise of Robert J. Farrell, senior investment adviser at Merrill Lynch Pierce Fenner & Smith Inc., on investments; Expectation of a rise in the small growth companies.

Presents an interview with Barton Biggs, director of global strategy for Morgan Stanley and head of its $57 billion asset management operation. Referred to as the world's reigning contrarian; Stock picks by Biggs in 8 countries, including Brazil, Hong Kong, and India.

The author discusses the 2008 financial crisis and says that in November, 2008, the crisis is nearly over. Hedge funds have seen massive losses in 2008, and billions of dollars have been withdrawn from the financial markets, but most investors who still have positions in hedge funds will be patient enough to keep their money invested, rather than selling at a loss.