Beat the Millennium Crash: How to Profit from the Coming Financial Crisis (New York Institute of Finance) [Illustrated] [Paperback]

Jake Bernstein (Author)

Book Description

Series: New York Institute of Finance | Publication Date: August 1, 1999

Is a stock market crash imminent? Jake Bernstein believes the answer is clear: A dramatic decline in world stock markets is coming soon. With a decisively bearish outlook, he gives investors the crucial insights needed to anticipate the inevitable and act in advance, rather than react in panic when the financial bomb drops. Beat the Millennium Crash is a provocative look at the stock market of tomorrow - with comprehensive strategies for turning crisis into opportunity.

Editorial Reviews

Amazon.com Review

For Jake Bernstein, the millennium is bad news. The stock market will crash, panic will ensue, and today's paper millionaires will become tomorrow's paupers. In Beat the Millennium Crash, Bernstein, a noted futures trader whose previous books include The Compleat Day Trader and How the Futures Markets Work, sees a confluence of trends and patterns that will culminate in a dramatic stock market panic that could be triggered by problems associated with the Y2K bug.

At the heart of Bernstein's argument is the idea that interest rates determine the direction of the stock market and overall economic activity. He believes rates are approaching a 54-year bottom, and that "there is no reason to believe that the patterns in interest rates have changed or that the market has ceased to be cyclical." Rising rates will cripple the current bull market, and investments that are out of favor today, such as precious metals, will be one way to profit in this gloomy environment. While Bernstein doesn't think that we'll all turn into pumpkins at midnight on New Year's Eve, he does see the end to the current stock market party happening by 2004. Bernstein particularly likes gold as a hedge to this bearish scenario as well as a healthy amount of cash. No one likes a party pooper or a contrarian, but his advice just might profit those who listen. --Harry C. Edwards

From Library Journal

Bernstein is the author of more than 20 books, including The New Prosperity. Though his formal education is in clinical psychology and sociology, he works in the stocks and commodities markets. His forte is in uncovering patterns that have financial implications, particularly with respect to millennium problems such as Y2K. He offers some guidance in detecting what market sectors will have problems, where there are possible growth areas, and some basic strategies to deal with Y2K problems in bank accounts. Interesting pointers are presented for investing in metals (gold, platinum, palladium) as a component of a strategy. Overall, the book does a credible job of investor education, but the question is whether it has a reasonable shelf life. Regrettably, the answer is probably no.ASteven Silkunas, Southeastern Pennsylvania Transportation Authority, Philadelphia
Copyright 1999 Reed Business Information, Inc.

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Product Details

• Paperback: 256 pages
• Publisher: Prentice Hall Pr; illustrated edition edition (August 1, 1999)
• Language: English
• ISBN-10: 0735201196
• ISBN-13: 978-0735201194
• Product Dimensions: 9.1 x 6 x 1.1 inches
• Shipping Weight: 1.3 pounds (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (14 customer reviews)
• Amazon Best Sellers Rank: #5,565,542 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

8 of 10 people found the following review helpful:

1.0 out of 5 stars More worhtless rhetoric from another doom and gloomer, July 25, 1999

By A Customer

This review is from: Beat the Millennium Crash: How to Profit from the Coming Financial Crisis (New York Institute of Finance) (Paperback)

Don't waste your money on this book. This guy has been preaching the proverbial doom and gloom scenario to anyone who will listen for as long as I can remember. His "financial meltdown" hyperbole is a complete scam, and the only thing that will suffer a crisis is this guy's reputation.

5.0 out of 5 stars Read this and heed:, July 22, 1999

By A Customer

This review is from: Beat the Millennium Crash: How to Profit from the Coming Financial Crisis (New York Institute of Finance) (Paperback)

With his usual innate common sense, ( a rare commodity in itself ), Jake Bernstein calmly analyzes the millennium market and offers some surprising predictions, along with quite a few sound assessments, and outlines what actions are needed to be taken by today's astute investor. It's the wise one who will read, absorb and note the reality of these possible trends in this unique market. Some of the news may seem unflinchingly bad, but taken like that *spoonful of medicine*, and acted upon, fortunes instead of losses may be made. Read it and heed ... and thanks, Jake Bernstein, for another classic bit of analysis. Many will be indebted to you for the uncanny foresight in the pages of "Beat The Millennium Crash".

5.0 out of 5 stars Another excellent resource for traders from Jake, July 21, 1999

By A Customer

This review is from: Beat the Millennium Crash: How to Profit from the Coming Financial Crisis (New York Institute of Finance) (Paperback)

After reading Beat the Millennium Crash : How to Profit from the Coming Financial Crisis by Jake Bernstein, investors can begin to see the potential for gain rather than focusing on the problems associated with the Y2K bug. I agree with Mr. Bernstein in that we are due for a cyclical bottom in interest rates in the near future, and that a panic top in the stock market is certainly a possibility. The fear of investors losing access to their (online) investments, and thus their unrealized wealth for a period following the start of the new Millennium will certainly add fuel to this fire. This does not have to be a negative for investors willing to invest in long term gold stocks as Jake points out in this new text. Thanks Jake for breaking the mold of "Doom" and "Gloom" others seem to be so trapped in.