Unfortunately, the book is now slightly outdated (the author failed to imagine the existence of negative rate interest bonds), but it is well-written, engaging, and offers several useful insights. Its most interesting and useful advice is not to assume local companies will outperform "foreign" companies once the market becomes open to competition. For example, a state-owned Chinese company may not necessarily outcompete a foreign multinational just because it has home-court advantage and knows the local laws. This is especially true with respect to luxury goods, but the argument also applies to other businesses, including ones you might not expect, such as oil. (June 2017)
Jerry does a great job suggesting we step back and review our investments and investment allocation/strategies in light of the new economic and financial world in which we live. He challenges us to consider our investments in light of the larger political, economic, international and demographic realities and trends. And provides a valuable structured way of matching investments against the different nature of our current and future liabilities. Well worth reading and will provide insights and a new diverse way of thinking for anyone of any level of investment expertise – from zero/beginning to an experienced financial advisor.
Jerry Webman is a very succesful man. He is chief economist for Oppenheimer Funds. I can see why he has this title. This book is very well written. Very informative, yet relatively easy to dig into and extract the kind of information you may be looking for. Anything totally new or earth shattering here? Maybe not, but some good advice nonetheless. His major theses include looking outside mature economies, like the US, Europe or poor old Japan (I have read so many finance books lately about the grim prognosis for our Nippon friends). He recommends the BRIC nations, but then again, this is hardly new stuff. He also recommends investing in corporations that will cater to the Boomer generation as we get older and more needy. Once again, not something I have not heard before, but wise counsel. He also looks into diversification of a portfolio, but does admit that this, too, has its drawbacks and limitations. He does say the prosperity most of us boomers have enjoyed was the exception and certainly not the rule. In terms of stock valuation as well as in real estate. He is quite bearish on bonds, but then again, apart from those who sell them, who isn't. His writing style is usually quite crisp and smart. His humor is very dry, but quite funny at the same time. He pokes fun at the lack of humor of most economists. A very good book. Don't expect to be lunching with Buffett anytime soon, but Webman would be the first to tell you the likelihood of that happening is about as good as Tom Cruise reconciling with Katie. Fun read.
I was excited when I saw this book. Webman is an engaging speaker on Bloomberg. The book is smart and funny,but is short on specifics. He makes a strong case for the difficulty we are facing for growing our investments. The future appears to be in emerging markets, however we are still left with this scary volatility that destroys any short or mid term investment strategy. The book could have given more specifics on the basics of savings. He does briefly mention some of the advantages of TIPS. My overall feeling was he missed the tremendous potential that is here in the USA. So much of the book was written with common clichés "caution, careful" were commonly used. The book is very good description of the investment pitfalls we face, but doesn't give much meat on the aim of how to prosper.
During these complex and confusing economic times, MONEYSHIFT brings a clarity and understanding to the marketplace, explaining what has driven the market over the past several decades and how times are changing. The book explains why we have had so much more volatility in recent years, and offers a clear view of what to expect in the future as the global economy develops even further. We are in more complicated times, and this books helps prepare us for this changing world, offering specific ideas on how to take advantage of the global opportunities that present themselves. Dr.Webman offers intelligent insight and solutions as to how to shift our portfolios within the current and ever changing economic trends, and helps us understand where the future opportunities are, providing us a path to help develop a well positioned portfolio.
In recognizing that the past will not be prologue, Dr. Webman provides a path for investors to navigate the increasingly complex global financial markets to meet their long-term investment goals. Dr. Webman provides a compelling argument to move investors beyond the blame game and their U.S. centric bias to instead turn their attention to great investment opportunities taking shape all around the globe. The book is as humorous as it is insightful. I highly recommend Money Shift for investors looking to succeed in the 21st century.
In MoneyShift, Dr. Webman makes sense of the complex global economic and investment landscape, bringing insight to market events and outcomes in a way that few pundits can. This book doesn't stop there. It also provides specific ideas and investment opportunities that can help investors regain their confidence, put money to work and repair the damage done to their portfolios. And the advice is packaged with entertaining anecdotes, vivid stories and personal accounts that make for a great read! I highly recommend it for investors of all sophistication levels.