- Hardcover: 464 pages
- Publisher: Wiley; 1 edition (April 26, 2010)
- Language: English
- ISBN-10: 0470460350
- ISBN-13: 978-0470460351
- Product Dimensions: 6.5 x 1.4 x 9.3 inches
- Shipping Weight: 1.3 pounds (View shipping rates and policies)
- Average Customer Review: 25 customer reviews
- Amazon Best Sellers Rank: #1,815,686 in Books (See Top 100 in Books)
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Profiting from the World's Economic Crisis: Finding Investment Opportunities by Tracking Global Market Trends Hardcover – April 26, 2010
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From the Inside Flap
In Profiting from the World's Economic Crisis, author Bud Conrad, Chief Economist for Casey Research, predicts a rough road ahead for usdue to economic imbalances that have built up over the past decadebut reveals how you can prosper during these difficult times by tracking global market trends and finding investment opportunities that match those trends.
With this book, Conrad outlines the long-term direction of our economy as driven by increasing U.S. government and trade deficits, oil prices, Social Security and Medicare obligations for baby boomers, the credit crisis, and the weakening dollar. He also examines why some of the government's actionssuch as bailing out banks and curbing interest ratesfail to address more serious, long-term issues such as too much debt.
The crisis we have entered is not a typical business recession, but, instead, a major deleveraging which is the biggest shift since the Great Depression. The stagflation of the U.S. economy will present great challenges on a global scale. And since no market travels in a straight line, you need to be positioned correctly, with the right investments, to protect yourself and profit from the twists and turns you'll inevitably face in today's turbulent economic environment.
Profiting from the World's Economic Crisis deftly addresses how to gain your financial footing during these difficult times by highlighting global investment opportunitiessuch as gold, interest rates, currency, and commoditiesthat are likely to help you profit in the coming years.
About the Author
BUD CONRAD is the Chief Economist at Casey Research and has been a futures investor for twenty-five years, as well as a full-time investor for more than a decade. He holds an MBA from Harvard and an electrical engineering degree from Yale. Conrad has held positions with IBM, CDC, Amdahl, and Tandem. His comprehensive picture of the world's economy, based on a career of using long-term fundamental analysis, enables him to explain how this crisis arose and where it will evolve to. He uses insights learned from his engineering training to interpret how investment cycles affect our economy. He served as a local board member of the National Association for Business Economics and taught graduate courses in investing at Golden Gate University. A popular speaker, Conrad has delivered talks in New Zealand, Dubai, New York, Vancouver, Denver, Phoenix, Las Vegas, San Francisco, Los Angeles, and Chicago. He has appeared on CNBC, Fox Business News, New Zealand 3news, and has commented in many publications from the Wall Street Journal to Reuters.
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What an awful title for the book! It makes it sound like a guide on how to exploit the human suffering of the economic crisis in order to stay afloat oneself.
What the book actually IS, is a detailed analytical assessment of today's US economy and where it is likely to head in the coming years. Which, of course, is not only useful for us to try to better understand the world around us, but for those of us who are investors to make prudent decisions about where to put our savings.
I have read a number of recent books on the economy. There appears to be a lot of consensus among the intelligent writers on contemporary economics- for example, 1). We are in a deep crisis of overleverage brought on by an accumulation of excessive debt that has gone on for 2-3 decades. 2). The inevitable consequence of this is a massive deleveraging.
One area where experts do differ is whether deflation or inflation will dominate in the coming years. The crux of this disagreement lies in whether one believes that the Federal Reserve has the ability (and the willingness) to turn deflation to inflation through massive money-printing. Conrad clearly falls into the latter camp, and he does so, in my view, very persuasively. (Another area of dispute between the deflationists and inflationists is the extent to which the government will continue to engage in (inflationary) deficit spending.)
At any rate, Conrad's view is that all this is leading us to a currency crisis for the US dollar in coming years. This is a hypothesis that many other contemporary economic commentators have proposed.
While there is a lot of other good writing out there on this subject, I believe Conrad's book gives the most complete, fact-supported, and persuasive assessment of today's economy.
Just one piece of advice: If you believe the Voodoo nonsense of economists like Paul Krugman, this book is not for you.
I would add that the book was published very early in 2010. As such, the author did not know of QE 2. QE 2 provided a source of treasury funding that was, I think, beyond what the author anticipated and thus caused the timing of his predictions to be wrong. However, QE 2 only kicked the can down the road and probably only delayed and worsened the effects he predicted. With QE 2 ending this month, it will be interesting to see who will replace the Fed as a buyer of the $600 to $800 billion of deficit funding in the coming year. I would expect the authors predictions for 2010 to be even more relevant in the year ahead.
It is sad how few voters have any sense of the true economic situation in this country. The book should be required reading by all politicians and members of the print, TV and on-line media.
I do feel that the title of the book is misleading. Probably it was selected by the publisher. The book provides essential information to inform one's investing in today's times. His recommendations are very general -- gold, oil, food commodities. The book to me is well worth the cost if it only helps one to staying even in real dollars in the days ahead.
This book will not make you sleep better at night!
However.. I am reading this on my laptop (as my wife uses the Kindle) and this book still does not lend itself to the Kindle format. He uses a great many charts and graphs to support his points and they are a key to understanding. Thus, it takes a great deal of flipping back and forth to follow his explainations of them. Despite changing font sizes, the two are seldom on the same page and often a number of pages apart. So I deducted one star.
Overall, the book is still worth the effort to me. I just wish I had ordered a hard copy so I could flip and mark up paper pages.
Added Later... I finished it a few days after the above and would still recommend it for those serious about wanting to understand what we are facing. Although he has some recommendations as to "what to do".. that is not the focus nor main value of the book.
Personally, I loved this book. While many authors go off on personal tangents, Bud Conrad remains focused on the facts. I believe his book is doing a great service to everyone by pointing out how the global system is inter-connected and how the combined actions of governments around the world, over the past 25 years, is now culminating into what may turn out to be a very significant inflationary scenario. Depending on how you manage your financial affairs and your investment portfolio you could profit well from this environment, yet by following the same strategies you have used in the past you may lose significantly. In the end, time will tell.
You should read this book as it will provide you with a comprehensive and thorough understanding of the financial path the world is on today.
Thanks Bud, I really enjoyed your work and I will be putting many of your recommendations to work for my clients.