From Boom to Doom?

Every boom spawns its prophets of doom, and the current bull market is no exception. Right now the most visible naysayer is a previously little-known economics professor named Ravi Batra. His eye-catching book, The Great Depression of 1990, has jumped to No. 4 in its sixth week on the New York Times' nonfiction best-seller list. At $17.95 a copy, it has been snapped up by some 175,000 buyers who are either curious or concerned -- or both -- about just how high the current boom can go before it turns to bust.

The Indian-born Batra, 44, who teaches at Southern Methodist...

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