While some have tended to view asset class mispricings as mere "noise," this compelling book shows why they are important signals of opportunities and risks that will shape the market for years to come. One of today's most respected names in finance, Mohamed El-Erian puts recent events in their proper context, giving you the tools that can help you interpret the markets, benefit from global economic change, and navigate the risks.
©2008 Mohamed A. El-Erian; (P)2008 BBC Audiobooks America
The book is written from an economists perspective. The majority of the book discusses his macroeconomic theories and his proof for his sentiments. The book is too long, and too abstract. I did not find very many useful tips in the book. The author is a good writer and an intelligent individual, but I did not find the book to be especially helpful as an investment guide.
Old & fat, but strong; American, Chinese, & Indian (sort of); Ph.D. in C.S.; strategy, economics & stability theory; trees & machining.
This book is written in the style of a man who swallowed a thesaurus with a bit too much expensive Johnny Walker and latter regurgitated on a broad sheet. My wife enjoys listening to Allen Greenspan simply because she enjoys the unusual way in which he says things. She finds his atypical phrasing poetic or melodic. Reading this book was the first time I really understood this perspective. At times I enjoyed just the mental excursive understanding the sentences. Although the finance jargon is main stream there is a lot of it; in addition there is some truly unusual vocabulary.
His thesis is that we are at a turning point where the world economy will undergo something that appears like an inversion: 1) The emerging markets will finance the developed economies. 2) The systems in the emerging economies will rapidly develop 21st century traits while the developed economies are rapidly reverting to more 19th century systems. He seems to see this as neither good nor bad, but sort of inevitable. What is good or bad is, in his mind, seems to be the path we take to this inevitable end.
This is an important thesis. The question in my mind remains rather he merely states his thesis and leaves the proof as an exercise to the reader; or rather he actually presents a reasonable defense of his thesis. The problem is not rather his arguments are weak; so much as it is rather they are stated or mealy implied.
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