Housing equity, 401Ks, Pension funds. They all may be vulnerable to the next bursting bubble. John Calverley lays out the fundamentals of our asset-backed economy and explores the powerful implications for individuals, businesses, central banks, and policy makers.
When Bubbles Burst: Surviving the Financial Fallout
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Editorial Reviews
Review
Analyzes major market bubbles of the 20th century; states the U.S. is in the early-middle stages of a housing bubble. -- SmartMoney.com, December 12, 2004
Review
Indispensable for everyone, investors and students alike, who wants to understand how bubbles arise -and avoid being caught out by the next one.
"Calverley is that rare thing - a banker who saw the crash coming." --This text refers to the Paperback edition.
"Calverley is that rare thing - a banker who saw the crash coming." --This text refers to the Paperback edition.
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Most Helpful Customer Reviews
9 of 12 people found the following review helpful:
2.0 out of 5 stars
OK Marcoeconomics view, but misses a lot,
This review is from: Bubbles: And How to Survive Them (Hardcover)
This book would be good for readers who are interested in macroeconomics and like blaming the Federal Reserve. It would very not be helpful to people who do not follow marcoeconomic debates. Even in this context, it does not provide anything new.
For a much better and more interesting take on bubbles, check out Frenzy by Carl Haacke. It's great! It provides compelling insights into how bubbles are created by 3 types of distortions - 1) psychological, 2) competition, 3)excess. Its a much better way to understand bubbles and is a perfect way to view today's real estate bubble. Moreover, it helps explain how to manage them better. For real estate, that would mean (dare I reveal the ending) wait for the crash and buy at firesale prices. But read it to learn more, its worth it.
1 of 1 people found the following review helpful:
4.0 out of 5 stars
Very timeley... in 2010!,
By LOTONtech "What you need to know, and no more!" (www.lotontech.com) - See all my reviews
This review is from: Bubbles: And How to Survive Them (Hardcover)
Despite being published in 2004, this book could have been published today as essential reading for anyone wanting to know why the financial crisis happened. In a nutshell, everything Calverley presents as "what could happen" did happen.
The only reason I gave four stars rather than five is that this book is probably one for budding economists rather than budding investors or traders. Tony Loton, author -- Stop Orders: A practical guide to using stop orders for traders and investors
5.0 out of 5 stars
Not disappointed...,
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This review is from: When Bubbles Burst: Surviving the Financial Fallout (Paperback)
Just finished reading what I consider one of the best timely books on our current financial crisis.
Having read several books on this topic... this one is a must read. Why? It is written for us, the layperson... not the professional. Check out the contents, the author writes with a simple, clear hand. You will not find the usual economic jargon that can bog down the ease of reading and understanding. This a major achievement in itself. He covers the first known bubble histories (1630's)up through 2008. This is the updated version from the original 2004 version. (covering through 2008) It interesting to read his comments what he thinks will happen in 2009-10. He pretty good at reading the "tea leaves" He does an excellent job of presenting different view points (his included) but leaving you to decide. A good read.
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Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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mortgage equity withdrawal, consumer spending growth, higher asset prices, housing bust, rental yield, housing bubbles, house prices fall, inflation risk premium, real house prices, falling asset prices, rising house prices, stock bubble, cutting interest rates, debt deflation, consumer price inflation Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bank of England, Federal Reserve, Hong Kong, Asset Valuation Committee, South East, Alan Greenspan, Fannie Mae, Freddie Mac, Genghis Khan, Chairman Greenspan, United States New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
mortgage equity withdrawal, consumer spending growth, higher asset prices, housing bust, rental yield, housing bubbles, house prices fall, inflation risk premium, real house prices, falling asset prices, rising house prices, stock bubble, cutting interest rates, debt deflation, consumer price inflation Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bank of England, Federal Reserve, Hong Kong, Asset Valuation Committee, South East, Alan Greenspan, Fannie Mae, Freddie Mac, Genghis Khan, Chairman Greenspan, United States New!
Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
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