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The Fearful Rise of the Markets: Global Bubbles, Synchronized Meltdowns, and How to Prevent Them in the Future | [John Authers]

The Fearful Rise of the Markets: Global Bubbles, Synchronized Meltdowns, and How to Prevent Them in the Future

Authers reveals how the first truly global super bubble was inflated - and might now be inflating again. He illuminates the multiple roots of repeated financial crises: a massive shift in investing power from individuals to big institutions; the migration of key decisions from banks to capital markets; the wholesale financialization of many asset classes; and fundamental failures of both theory and policy.
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Publisher's Summary

Are we barreling toward another massive global financial catastrophe? How can so many bubbles form all at once? Why are so many disconnected markets now capable of collapsing in unison? In this remarkably listenable book, award-winning Financial Times columnist John Authers takes on these critical questions and offers deeply sobering answers.

Authers reveals how the first truly global super bubble was inflated - and might now be inflating again. He illuminates the multiple roots of repeated financial crises: a massive shift in investing power from individuals to big institutions; the migration of key decisions from banks to capital markets; the wholesale financialization of many asset classes; and fundamental failures of both theory and policy.

The Fearful Rise of Markets presents a truly global view, avoiding oversimplifications and ideology as it outlines how we got here and where we stand. Even more valuable, it offers realistic solutions - for decision-makers who want to prevent disaster and investors who want to survive it. Topics include:

  • The herd grows ever larger - and more dangerous
  • How institutional investing, indexing, and efficient markets theory promote herding
  • Cheap money and irrational exuberance
  • Super fuel for super bubbles
  • Too big to fail: the whole story of moral hazard
  • Banks, hedge funds, and beyond
  • Danger signs of the next bubble
  • Forex, equity, credit, and commodity markets move once more in alignment

Download the accompanying reference guide.

©2010 John Authers (P)2010 Audible, Inc.

What the Critics Say

“Authers has the curriculum vitae and the confidence to go where no other author has thus far been. His goal…is to make understandable why financial markets failed, how investors should protect themselves and what national authorities should do to correct some of the problems. His mission is happily met.” (Financial Times)

“This new book is a must-read for every investor....I'd urge anyone with any interest in investing to read it as soon as possible. It may well stop you losing your shirt in the next meltdown!” (Cliff D’Arcy, The Motley Fool)

What Members Say

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    Randy Stanfield 09-09-10 Member Since 2009
    HELPFUL VOTES
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    "Remarkable insight into a scary reality"

    I found this book to be a fascinating look at the markets' behavior over the past 50 years. The author deftly relates the past with that observed in the recent down turn. I feel that I have a much greater understanding of some of the significant factors that led to the series of crashes in 2007 & 2008. It is a definite listen for anyone interested in finance's recent history. It is not an introductory level book though. I am not an expert and have no formal education in finance & economics so it is not an overly academic read. However, if you aren't familiar with terms such as quantitative easing and securitization and don't want to take the time to look them up, then you can get confused quite quickly.

    My only criticism is as follows. The theme of the book is that markets are so interconnected that a seemingly unrelated investment can be dramatically affected by the (often illogical) actions of other markets. There is not much emphasis on how one would use this knowledge to avoid past mistakes.

    4 of 4 people found this review helpful
  •  
    PHIL San Diego, CA, United States 11-22-11
    PHIL San Diego, CA, United States 11-22-11 Member Since 2011
    HELPFUL VOTES
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    "Clear overview, fills gaps in other books"

    This is a thoughtful guided tour of recent financial history. The viewpoint is built around correlations, linkages between deals, markets and asset-classes. I had noticed these on a daily basis and thought them important, but hadn't seen a focused explanation such as this. This book addresses various general investment types and portfolios, showing how the idea of diversification can be an illusion. Oil and commodities fluctuations over the last few decades are one big focus, in the USA and relatedly in emerging markets. But this book is a big-picture overview of the global economy, linkages across its regions and parts, finance innovations, shocks and adjustments over recent times, through 2010, with well-thought considerations for the future. I had seen many of these terms before but always enjoy a new lucid explanation and walk-through with its own angles and nuances. I would put this in my "top 5" of financial books, out of dozens read lately. The downloadable graphs and charts are readily understandable and well-integrated with the text.

    1 of 1 people found this review helpful
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