The Great Reflation How Investors Can Profit From the New World of Money (Audible Audio Edition) J Anthony Boeckh Don Hagen LLC Gildan Media Books
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The extended bubble in the credit, housing, and financial markets created 25 years of artificial prosperity and wealth. The bubble has burst, and much of that inflated wealth is gone. The government has attempted to pump air back into the bubble in a financial experiment of unprecedented magnitude. The goal is to get markets up, save banks and corporations, and reduce unemployment. This has created another artificial world and will have unintended consequences - both bullish and bearish. One thing is certain, financial turbulence will be greatly increased.
In The Great Reflation, author Tony Boeckh, a 40-year market veteran, helps you understand this new world of money and how it will play out for investments and business.
Divided into three comprehensive parts - "Financial Instability", "The Markets Preparing for the New Investment Environment", and "The Future Is a Return to Lasting Stability Possible?" - The Great Reflation will help you come to grips with our volatile new world and acquire a framework for understanding and controlling risk as well as preserving and enhancing wealth. This audiobook
- Arms you with practical insights that will allow you to evaluate different investment options and manage your money more effectively
- Explores the implications of the end of the private debt cycle, the rise of the government debt cycle, the new age of private thrift, and the threats to the U.S. dollar and global financial system
- Reveals proper portfolio diversifications strategies as well as how you can profit from the Great Reflation
- And much more!
The Great Reflation provides investors with the knowledge, insights, background, and tools for both building and protecting wealth, and allows you to find financial opportunities in the economic challenges that lie ahead.
The Great Reflation How Investors Can Profit From the New World of Money (Audible Audio Edition) J Anthony Boeckh Don Hagen LLC Gildan Media Books
The author gives a very depressing summary of where we are now (or were, at the end of 2009), and answers many questions like: if the dollar is going down the tubes, why is china buying US treasuries? The author, for reasons that escape me, tries to NOT be austrian (for example, after you read this, the evils of the fractional-reserve banking system are quite apparent, but the author does not even attempt to make (or refute) this point). The investment advice in this book is almost completely worthless, probably because there is no good advice to be given to non-professional investors: there is no good place to put your money, at least in short-to-medium term.Product details
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The Great Reflation How Investors Can Profit From the New World of Money (Audible Audio Edition) J Anthony Boeckh Don Hagen LLC Gildan Media Books Reviews
A look at history and current events to understand where the US and world economy is headed in this bailed out cuasi socialist stimulus reality we now live on. It takes aim, rightfully so, at the incompetence of central banks and the Fed to achieve their functions.
I have read several investment books. This was one of the most exciting, until I discovered that all of the graphs he suggest you use, to track where you are at any time in the business cycle (boom/bust cycle) are unavailable to the average person on Yahoo, MSN, or Bloomberg. Now he conveniently offers a newletter for $2000 per year, so you can get access to this data. If it smells like a duck....
The author talks about liquidity, credit, banking, economy, asset markets with depth, historical perspective, reason and clarity. He also has a good grasp of politics and how it influencs people's pocket book. The author has a wealth of knowledge and lays it all out in the book in a way that is easy to follow.
The book gives the reader a very good understanding of the big picture and the macro factors that affect it. I learned quite a few things.
The reasons that I can not give it a 5 stars is because
1 There is very limited coverage of equity selection. For example, what type of equities will do better relatively in an inflationary period, or the characteristics of different equities and how to select them. The author talks about equity as a whole and at a high level.
2 The author gives the Federal Reserve too high a grade. His evaluation of the incentives of the Federal Reserve system and the motives of the people running the Federal Reserve is too high and off the mark. He also praised the Fed for saving the world from a total collapse (in 2008-2009), which can never be proved true or imaginary.
Despite these short comings, investors can most likely benefit from this book.
The premise of the book is great. The reason it is not 5 stars is because only a couple chapters are timeless and useful. However, even though there are only a few dozen useful pages, they are better than any other in the several dozen investing books I've read.
The Great Reflation is on of those books that should be read by everyone as it explains just how we got into the present financial crisis, and how it may play out. I have followed the author for 4 0 years and he is the best banking and financial system analyst I know of. Boechk takes us through monetary policy and shows us how the government has steadily attempted to inflate (keep it growing) the economy, and how the effects have masked an underlying long-term downtrend, that explains why it is so difficult to effect a recovery with massive stimulus. Boeckh aslo explains how various asset classes will react depending on the outcome of the crisis.
Perhaps my expectations were too high about this book but in short I was a tad let down. As for the positives
* The book was very clearly written
* Complex topics were explained in the most basic of terms
* The book did an outstanding job of Illustrating the macro monetary situation we are in currently in by examining the recent and current financial situation, the fed's intervention and the like.
The juciest section for me was Section 1 where the Author painted an elaborate and elegant picture as to the situation we are in and how unprecedented it is. Atop of this he covered disciplines that one needs to understand in order to frame the picture that we are now in the midst of historical contexts, long wave cycles, etc and he also does an excellent job of providing facts and charts which illustrates his points in the clearest of terms. He tends to allude to where things may be headed but never says it outright. So its pretty gripping - and like good Hitchcock movie it feels like foreshadowing of really great things that he will cover later in the book. Bravo for section 1 - get the book for this reason alone.
I was a bit disappointed in the second section - namely the investment section
* the book did an excellent job of going through the different investment options one may face in the current environment yet I felt it was overly simplistic in some cases -- while the complexity of the first section was closer to what I expected, the investing section felt a bit like a "beginners guide" - perhaps too simplistic.
Finally, I was also disappointed as the book didn't make any predictions. As I said before, the first section felt like he was foreshadowing a story that he would weave together in the final section - telling you what may happening, how to prepare, what to invest in etc. However true to the form of a good economist, the Author did NOT make predictions. This felt a little bit unfulfilling.
Instead he explained where we are and that the data will determine which direction we head (deflation vs inflation) and gave us the tools to understand how we may determine this ourselves over the coming years. No bold conclusions as to what to expect, no intellectual catharsis. It kind of fell flat for me -- as sometimes I am looking for an opinion from a wiser, more experienced Sage -- not just a guidebook as to what to look for in the field.
(But again maybe that was the point of the book -- that there is massive uncertainty out there and there are no guarantees where we are headed following the "great experiment" we have undertaken.)
If the book didnt leave me yearning for an opinion or if it had taught me some new investing angles I would have given it a 5* however. I still would wholeheartedly recommend this book to anyone who is a concerned investor for the first section alone; just dont expect a compass that will tell you what to do. Instead think of it as a field guide for how to think for yourself and make your own predictions. Still a good read.
The author gives a very depressing summary of where we are now (or were, at the end of 2009), and answers many questions like if the dollar is going down the tubes, why is china buying US treasuries? The author, for reasons that escape me, tries to NOT be austrian (for example, after you read this, the evils of the fractional-reserve banking system are quite apparent, but the author does not even attempt to make (or refute) this point). The investment advice in this book is almost completely worthless, probably because there is no good advice to be given to non-professional investors there is no good place to put your money, at least in short-to-medium term.
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