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The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities, 2nd Edition Paperback

ISBN-13: 978-0132447294 ISBN-10: 0132447290 Edition: 2nd

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Product Details

  • Paperback: 432 pages
  • Publisher: Pearson Prentice Hall; 2nd edition (August 3, 2007)
  • Language: English
  • ISBN-10: 0132447290
  • ISBN-13: 978-0132447294
  • Product Dimensions: 9.5 x 6.7 x 0.9 inches
  • Shipping Weight: 1.8 pounds
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (61 customer reviews)
  • Amazon Best Sellers Rank: #431,049 in Books (See Top 100 in Books)

Editorial Reviews

Review

 From The Wall Street Journal, November 22, 2005: 

 

"Whether you're tracking pop culture, high fashion or health care, all things are connected, and economics is the tie that binds them all. For those who need to know more about economic trends and for those who haven't the skills or background in the field, Mr. Baumohl's book is the real deal. He miraculously breathes life into economic indicators and statistics."                     

 

 

From Library Journal:


"Baumohl, a former economics reporter for Time magazine, has written a tremendously useful source on economic indicators.  Baumohl considers a variety of factors when describing each indicator, such as what exactly it measures, how it is computed, where to find the relevant report on the web, the day and time this report is released, the source of the information, and how often the information is revised. He also discusses the market impact of these indicators on bonds, stocks, and currency.  Bottom Line: Although this book is marketed as a tool for investors and is not organized like a typical reference book, it belongs in the reference collection because it explains so clearly what the various economic indicators are and how to locate data about them. Recommended for all libraries. " —Stacey Marien, American Univ. Lib., Washington, DC

                                                        

--This text refers to an out of print or unavailable edition of this title.

About the Author

Bernard Baumohl is managing director of The Economic Outlook Group and oversees its forecasts of economic trends and risks. He also conducts seminars on how to find and utilize economic indicators so that corporate leaders and investors can stay ahead of the business curve. Baumohl was an award-winning TIME Magazine economics reporter for two decades and covered the domestic and international economy from TIME’s New York and Washington bureaus. As an economist for European American Bank, he monitored and developed forecasts of U.S. economic activity. He also served as an analyst with the Council on Foreign Relations. A frequent guest on television and radio, he has lectured on economics at New York University, Duke University, and the New York Institute of Finance. A recipient of the John Hancock Award for Excellence in Financial Journalism, Baumohl has a master’s degree in international affairs and economics from Columbia University.


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Customer Reviews

4.6 out of 5 stars
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See all 61 customer reviews
It is well written, very interesting and easy to read.
Zigfried E. Ahiekpor
In concise language it explains what Baumohl indicates are the most influential U. S. and International Economic Indicators.
Craig L. Howe
I came across this book last week and read it over the weekend.
SheilaGreen

Most Helpful Customer Reviews

113 of 115 people found the following review helpful By Craig L. Howe on May 18, 2005
Format: Hardcover
On any given weekday, stocks and bonds gyrate in response to some economic announcement.

Bernard Baumohl, a Time magazine economics writer with more than 20 years of experience, has written a guide to these indicators and their importance to the financial markets.

The book promises to become dog-eared quickly. In concise language it explains what Baumohl indicates are the most influential U. S. and International Economic Indicators. Beginning in Chapter 2, the author defines the phrases and concepts essential to an understanding of the indicators.

In Chapter 3 he jumps into the heart of the matter: U. S. economic indicators. Each indicator is evaluated using the following criteria:

* Why is it important?

* How is it computed?

* What does it day about the future?

* How might stocks, bonds and/or currencies react to its announcement?

In Chapter 4, he examines the 10 most influential foreign indicators using the same criteria.

In the final two chapters, Baumohl provides a list of web sites that compile economic data. What in the past costs thousands of dollars is available on the web at no cost.

If any facet of your life is effected by these indicators, you owe it to yourself to keep a copy of this book nearby.
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87 of 91 people found the following review helpful By Thomas Mongle on April 4, 2005
Format: Hardcover
Bernard Baumohl's "The Secrets of Economic Indicators: Hidden Clues to Future Economic Trends and Investment Opportunities" starts off with a riff on how investors got sold out by their "expert" advisors and even the stock-issuing companies themselves during the recent crash. He contends investors are in the need for better guidance. The solution, he says, is an individual investor do-it-yourself approach to fundamental macroeconomic analysis based on the reported data that underlies both the domestic and international economy.

Make no mistake, this is one of the most useful and fundamentally sound readings of how economies really work you will ever see - much more revealing and educational than a raft of academic books purporting to teach us how the theoretical economy is supposed to function. This book magnifies the real workings of an economy (daily, weekly, monthly) - the inputs that produce the outputs - and how the data generated from those workings is reported, analyzed, and used.

Baumohl lists 4 weekly, 43 monthly, and 9 quarterly releases of data in short outline form along with what they are, when they're reported, and how they're computed, along with their expected effect on the stock market, interest rates, and the dollar.

His goal, he states, is to answer the question of which indicators pack the greatest wallop in the financial markets and which ones are known for doing the best job predicting where the economy is going, thus influencing investments. He assigns a relevance rating to each of the indicators.

It's easy to get overwhelmed quickly and Baumohl is right when he laments that "There is too much economic information out there, and not all of it is useful."

He should have added "not all that accurate" either.
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42 of 43 people found the following review helpful By Hawkeye Richardson on February 6, 2006
Format: Hardcover
This book by Baumohl is a good book to have in one's reference library if you use government and private indicators to try to ascertain where the economy and, more specifically, the stock market might be headed. Bernard has not only listed all the most common indicators, but has given the source, quality, reliability, timing, and importance of each indicator upon the markets.

Will this book make you a better trader or investor? By itself, probably not. But, it is always useful to understand what indicators the 'general public' is viewing and how these indicators tend to impact on an un-informed investor's actions. It is probably a book more useful to a seasoned investor who is continuing to work to improve his investment analysis methods and his understanding of how various indicators can 'psychologically' impact the markets.
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Format: Hardcover
Baumohl, a former economics reporter for Time magazine, has written a tremendously useful source on economic indicators. Using examples from real life, he starts out by explaining in detail the importance of these indicators to the investing community and defining the terms used when discussing measures of economic performance. The most valuable section of the book provides detailed descriptions of over 40 economic indicators, among them employment, consumer spending, national output and inventories, housing and construction, foreign trade, and productivity and wages. Baumohl considers a variety of factors when describing each indicator, such as what exactly it measures, how it is computed, where to find the relevant report on the web, the day and time this report is released, the source of the information, and how often the information is revised. He also discusses the market impact of these indicators on bonds, stocks, and currency. The book ends with profiles of international indicators and a listing of where to locate them on the web. Bottom Line: Although this book is marketed as a tool for investors and is not organized like a typical reference book, it belongs in the reference collection because it explains so clearly what the various economic indicators are and how to locate data about them. Recommended for all libraries.
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