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The Roaring 2000s Investor: Strategies for the Life You Want Hardcover – October 14, 1999
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In The Roaring 2000s, America's favorite optimist, Harry S. Dent Jr., makes the case that demographics drive all economic activity and that, thanks to the current baby boom, we're set for one whale of a good time over the next 10 years. In The Roaring 2000s Investor, Dent shows how to cash in on this boom, then prepare for the worst when the downturn finally hits in the latter part of the decade. Dent believes that the best investment opportunities exist in the stock market--specifically technology, financial services, health care, and leisure stocks. But watch out after 2008, because that's when he thinks the bottom falls out. For these tough times, Dent recommends a shift away from stocks to out-of-favor investments such as bonds and commercial real estate.
In addition to investment information, Dent includes a good dose of living advice. He counsels not to be the millionaire next-door, counting change in a darkened living room while the greatest economic boom in history roars past. He writes, "Life should be interesting; investment and financial plan should be boring." Dent's prescription: Understand what drives the economy, then get a financial advisor and learn to enjoy life. Other subjects he touches on include asset allocation, international investing, and tax planning. Some might find Dent's reliance on demographics as an economic barometer a bit too simplistic. But for others, The Roaring 2000s Investor just might be the perfect framework for building an investment strategy into the next millennium. --Harry C. Edwards
Business Times Dent shares his vision of our country's economic future and reveals his proven methods for taking advantage of these anticipated trends to redesign how we work and live. Dent's valuable business and investment strategies will enable people from all walks of life to prepare for -- and make the most of -- the inevitable boom ahead. -- Review
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Top Customer Reviews
If you need a shot of confidence in your battered portfolio this book will give it to you.
Dent has the economic research, the demographic data, market insights, and statistical modelling to build a very persuasive case for equities over the next 6 1/2 years, until 2009.
Be careful of the sectors you are in and keep an eye on your allocation, he warns. The markets will shift dramtically down the road. I read his book today and will be changing my asset allocation tomorrow.
Harry S. Dent makes a strong case to be bullish.
I would have liked to read a more current introduction from him in light of market and economic developments over the past two years, but his basic story has remained, largely, unchanged. 4 Stars.
Dent seems fundamentally right about one thing. Part of the basis of his predictions is his assumption that a relatively young population with a large cohort of working adults is likely to result in a relatively robust economy because people will be in their prime earning (and spending) years and will therefore have money to buy a significant number of goods. A population with a large cohort of retirees will not fuel a robust economy since that cohort will be purchasing fewer goods. Dent's predictions concerning the U.S. and Europe (as well as his predictions for other countries) were based on his analysis of their demographics.
If he is right about this, then his prediction that the U.S. economy will slow once the Baby Boomer cohort starts retiring is likely to be right as well. (The first Boomers reached age 66 in 2012. Those born in the early 1950s, when the birthrates in the US were at their highest, will reach that age between 2016-2021.) And this is what is scary. For the decade of the 2000s wasn't nearly as financially robust as Dent predicted. If, as he believes (and probably with good reason), the U.S. economy will slow over the next few years because of the graying of the population, we're really in trouble. Let's hope that Dent is as wrong about the 2110s as he was about the 2000s. If he's right, we're in for tough economic times.
1. Outperforming the stock market; 2. Identifying which sectors should perform best in the coming decade; 3. Selecting a competent financial advisor;
What I found most useful was the common sense, logical approach Harry takes when presenting his case. Truly, real wealth is built not by aggressive trading but through the identification of long-term trends and investing accordingly. Harry also makes a strong case for a number of sectors that should outperform during the baby boomers reign. Other tidbits I found useful include:
1. The use of long-term data to drive nearer term investment results; 2. The use of different portfolio strategies for different times of your life; 3. The risk of modest portfolio underperformance; 4. Why today's hot stocks and funds become tomorrow's dogs.
I cannot guarantee you that following Harry's recommendations will make you "the Millionaire next Door." However, as a one-time Wall Street professional, I believe he will give you enough perspective on upcoming demographic trends to give you a realistic chance of realizing financial independence.
Side note: I have also read Harry's prior book, The Roaring 2000s. The 2000's Investor is a certain reiteration of Harry's economic views and analysis previously laid out in The Roaring 2000s, which was published in 1999 (one year prior to the 2000s Investor). The themes are the same but I believe Harry gives us more application in this newest version. Therefore, read this book and spare yourself the time of the other.
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some of his reasoning as to the mechanics and ideas which would be implemented in the New Millenium, but...Read more