CNBC's Fast Money commentator Steve Cortes shows how to buck the trend and become a well-informed investor.
The public needs to think independently and not be duped, particularly because those who are selling their messages or promoting their ideas have a plethora of powerful media through which to do so. Against the Herd presents six contrarian views of major events that will shape the future. Steve Cortes of CNBC pulls no punches in explaining these trends.
Many will find his views counterintuitive and even controversial. Some will find his forecasts alarming. But open-minded readers who are willing to heed his well-informed advice will find it illuminating, beneficial, and profitable.
Against the Herd shows you how to profit by bucking conventional wisdom and what to do to get ready when situations call for contrarian investing.
This is a listenable book with many thought-provoking passages. The world the author foresaw in 2011 has of course not perfectly materialized, but I was startled how often he was right. If the author had turned out perfectly right, I would have to chalk it up to a substantial measure of luck (since nobody knows the future, and nobody who knew the future would be a TV commentator or schlepping books; he would be the richest person on the planet).
The one-star audible reviewer obviously missed the point, as indicated by his short-swing (and wrong for now) view of gold's ascendency (which was already wrong when that review was written). My approach to investing is much like this author's, with a macro focus and pretty long term view. I see this book as more "teaching how to fish" (i.e., think) than simply handing me a serving of fish (a one-time set of"hot tips.") This book satisfies my approach of developing a sound underlying method of portfolio allocation, KNOWING that some of my assumptions (and anyone's, outside of pure luck) will not be proven true. And yes, some of the conclusions I don't agree with -- I would hope. Yes, some asset classes have swung wide of where the author expected, counseling a rethinking of some of the recommendations. But that is easy to do.
A problem with any dated product is getting the right frame of mind to benefit from it. For example, many ground-breaking films don't seem so great on a re-watching, often precisely because they have been so widely imitated and refined upon. So, a need is there to rewind and think of the work in terms of the time it was created. I found this exercise easy here, and was pleased to check the author's prognostications against the (limited) record since then. Indeed, many contrarian ideas voiced by this author are more mainstream now than they were in 2011. (That would seem to be the point of contrarian thinking: seeing things others do not, which later materialize in a wider recognition as true. That is how the investor makes a profit, and isn't that why we are here? Under these sorts of tests, the book comes out strong.
As for the pop-culture and other cultural references, I found them entertaining. Usually I am quite annoyed by such a thing, being for a more academic approach, but these were clever and amusing.
So, as the world continues to surprise us, I continue to seek out opportunities to listen to the thinking of all kinds of observers, and with this one, I'm well satisfied.
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What disappointed you about Against the Herd: 6 Contrarian Investment Strategies You Should Follow?
Sounds like this guy wrote this book while watching television and labeled his points with the thesis of the movies
Has Against the Herd: 6 Contrarian Investment Strategies You Should Follow turned you off from other books in this genre?
What didn’t you like about Ross Douglas’s performance?
Too fast and just didnt seem to fit with the context
What reaction did this book spark in you? Anger, sadness, disappointment?
Its seems that if a person has been in this industry as long as he claims he would be able to provide more useful information.
Gold Bubble? “REALLY” Gold has been going vertical since the year 2000 and has had a +14% increase from it yearly average price since then.
Dont buy stocks? “REALLY” The Dow has returned +30% since 2000
I am sure you will never get that from your beloved bonds
Many other examples but wow I wonder what this guys portfolio looks like!
Any additional comments?
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