The New Era of Wealth: How Investors Can Profit from the 5 Economic Trends Shaping the Future [Hardcover]

Brian S. Wesbury (Author)

Book Description

Publication Date: October 30, 1999

In The New Era of Wealth, top-rated economist Brian Wesbury shows investors how to use the five key trends that created the stock market boom in the 1990s to sidestep risk and build long-term personal wealth in stocks, bonds, mutual funds, real estate, and commodities.

Editorial Reviews

Amazon.com Review

First, the good news: smart investors will continue to get rich. Brian S. Wesbury, an economist and respected economic forecaster, believes the trends that led to so much wealth creation in the last two decades of the 20th century--a boom in productivity from technological innovation, smaller government, and anti-inflationary U.S. Federal Reserve policies--will continue in the first two decades of the 21st century. As Wesbury sees it, people who worry about the soaring stock market leading to a repeat of 1929 are looking for the wrong bogeyman. He argues convincingly that policy mistakes caused the Great Depression. Furthermore, he doesn't even believe stocks were particularly overpriced in the late 1920s, just as he doesn't believe they are in 2000. He views the dark days of the stock market from the mid-1960s to the early 1980s and the Japanese economy in the 1990s in much the same way. Where some see the brass knuckles of fate punching the lights out at the end of the party, Wesbury sees flawed governmental policies ruining brilliant economic expansions. He also shows how to cash in on the continuing good times. He says mutual fund investors, for example, should have a portfolio that's 50 percent index funds and 50 percent sector funds that buy new-era biotechnology and Internet stocks.

And now the bad news: just as a shift in governmental philosophy in the early 1980s helped the economy turn around, so could future shifts put the economy in reverse again. Wesbury cautions readers to be on the lookout for protectionism, tax increases, and excessive government regulation. But he also makes clear he doesn't believe those things will happen, that history has taught us valuable lessons we now know how to apply. If The New Era of Wealth could be summed up in one sentence, it might be: Economic disasters of the past don't have to serve as prologue. Wesbury's faith in the ability of humans to absorb such lessons makes this book a joyful read for the optimists among us. --Lou Schuler

Review

"Investors who take the time to read The New Era of Wealth will walk away wealthier for having done so." Investor's Business Daily; "The book's added value lies in the time it takes to lay out the ideas that got us to the roaring '90s. Important thoughts to keep in mind as markets grow frothier and we enter an election year." The Wall Street Journal --This text refers to an out of print or unavailable edition of this title.

See all Editorial Reviews

Product Details

• Hardcover: 199 pages
• Publisher: Mcgraw-Hill (October 30, 1999)
• Language: English
• ISBN-10: 0071351809
• ISBN-13: 978-0071351805
• Product Dimensions: 9.2 x 6.2 x 0.9 inches
• Shipping Weight: 15.2 ounces
• Average Customer Review: 3.8 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #2,870,280 in Books (See Top 100 in Books)

More About the Author

Brian S. Wesbury is Chief Economist at First TrustAdvisors LP, a financial services firm with over $23 billion under management. He writes frequently for the American Spectator magazine, serves as the magazine's Economics Editor, and is often a contributor to the Wall Street Journal editorial page. Wesbury was ranked as the nation's number one forecaster by the Wall Street Journal in 2001, and USA Today ranked him as one of the nation's top ten forecasters in 2004. Wesbury received an MBA from Northwestern University's Kellogg Graduate School of Management and a BA in economics from the University of Montana. His most recent writings can be found at www.ftportfolios.com.

Customer Reviews

Most Helpful Customer Reviews

87 of 89 people found the following review helpful:

5.0 out of 5 stars A Must Read If You Invest, January 28, 2000

By 

Michael Chapman "mchap7777" (Natchez, Mississippi) - See all my reviews
(REAL NAME)   

This review is from: The New Era of Wealth: How Investors Can Profit from the 5 Economic Trends Shaping the Future (Hardcover)

I found the book to be extremely well researched, easy to read and understand, as well as factual in its thesis that we have entered a "new era" of economic growth in which the old rules of economic measurements (such as the Phillips curve)are outdated and erroneous. He provides the reader with the five elements or trends that have contributed to the economic phenomenon America has experienced the last four years (1996-1999) in which the country has seen remarkable growth with very little inflation. He cites much economic history to prove his point. His thesis, which I believe is correct, is that America has indeed entered a new era of long economic prosperity, and those who understand what is making this happen, can profit. I highly recommend it as a must read for anyone who has money in any kind of investments. It's an excellent forecast on what America's future over the next few years will be, as well as an accurate education in fundamental economics. It also accomplishes this in a way that makes the book interesting to read--which for a book on economics--is out of the ordinary!

45 of 47 people found the following review helpful:

5.0 out of 5 stars Compulsory Reading, December 23, 1999

By A Customer

This review is from: The New Era of Wealth: How Investors Can Profit from the 5 Economic Trends Shaping the Future (Hardcover)

BRAVO....EXCELLENT...FIVE STARS... This book should be made mandatory reading for all FED officials and those running for political office in 2000. It is a book well written and easily understood by average investors like myself. As a small business owner, I was impressed by Wesbury's willingness to address and attack such matters as the current rising interest rates being imposed upon us by the FED. The author points out this is at a time in American economics when the FED should be using new economic models which are applicable today, instead of models from bygone eras that are no longer valid. Wesbury compares the similarities of the Industrial Revolution to what is taking place today. In no uncertain terms, he addresses the facts and backgrounds to what really is driving our booming economy today...HIGH TECH and SMALL BUSINESSES! This is an excellent book and one worthy of reading at home, business and definitely in enonomic classes of our academic institutions.

23 of 28 people found the following review helpful:

5.0 out of 5 stars New Era of Wealth, December 5, 1999

By 

Bruce Wesbury (Waldorf, Maryland United States) - See all my reviews

This review is from: The New Era of Wealth: How Investors Can Profit from the 5 Economic Trends Shaping the Future (Hardcover)

This book is a must read for the young investor. It outlines incredible ways to invest smartly paying attention only to the things that really matter. I would highly encourage any investor reguardless of their background, to read this book before they invest another dime.