David Dreman's name is synonymous with the term ''contrarian investing,'' and his contrarian strategies have been proven winners year after year. His techniques have spawned countless imitators, most of whom pay lip service to the buzzword ''contrarian,'' but few can match his performance. His Kemper-Dreman High Return Fund has been the leader since its inception in 1988 -- the number one equity-income fund among all 208 ranked by Lipper Analytical Services, Inc. Dreman is also one of a handful of money managers whose clients have beaten the runaway market over the past five, ten, and fifteen years.

Now, as the longest bull market in the history of the stock market winds down, there is increasing volatility and a great deal of uncertainty. This is the climate that tests the mettle of the pros, the worries of the average investor, and the success of David Dreman's brilliant new strategies for the next millennium.

Contrarian Investment Strategies: The Next Generation shows investors how to outperform professional money managers and profit from potential Wall Street panics -- all in Dreman's trademark style, which The New York Times calls ''witty and clear as a silver bell.'' Dreman reveals a proven, systematic, and safe way to beat the market by buying stocks of good companies when they are currently out of favor. At the heart of his book is a fundamental psychological insight: investors overreact. Dreman demonstrates how investors consistently overvalue the so-called ''best'' stocks and undervalue the so-called ''worst'' stocks, and how earnings and other surprises affect the best and worst stocks in opposite ways. Since surprises are a way of life in the market, Dreman shows you how to profit from these surprises with his ingenious new techniques, most of which have been developed in the nineties. You'll learn:

• Why contrarian stocks offer extra protection in bear markets, as well as delivering superior returns when the bull roars.
• Why a high dividend yield is just as important for the aggressive investor as it is for ''widows and orphans.''
• Why owning Treasury bills and government bonds -- the ''safest investments'' for centuries -- is like being fully margined at the top of the 1929 market.
• Why Initial Public Offerings are a guaranteed loser's game.
• Why you should avoid Nasdaq (''the market of the next hundred years'') like the plague.
• Why crisis, panic, and even market downturns are the contrarian investor's best friend.
• Why the chances of hitting a home run using the Street's best research are worse than being the big winner in the New York State Lottery.

Based on cutting-edge research and irrefutable statistics, David Dreman's revolutionary techniques will benefit professionals and laymen alike.