The economic crisis has placed the business cycle back in the spotlight, but as individual investors and financial professionals start the arduous task of portfolio building and rebuilding, the greatest danger they face is relying too much on the past for guidance when the future may look very different.
No one can say for certain what our economic future will look like. What investors can do is prepare. The Era of Uncertainty provides a new way of thinking about investing in a dynamic, macro-driven world, examining the importance of macroeconomic perspectives in a global economy rife with instability. This book presents a framework for using big-picture investment strategies to profit from the interwoven inflationary and deflationary scenarios likely to evolve in the coming years.
Written by FranÇois Trahan, former Chief Investment Strategist of Bear Stearns and one of the first strategists to warn about the housing bubble before it burst, and Katherine Krantz of Miracle Mile Advisors, The Era of Uncertainty addresses the likely causes and consequences of each possible scenario, offering investment strategies to profit from each potential outcome. Drawing on experiences derived from previous credit-driven deleveraging cycles and containing insights into the financial future, the book marks an important step for macroeconomics in the post-recession financial world.
A practical resource for anyone who intends to succeed in today's environment, The Era of Uncertainty shows what it will take to make it in such a dramatically altered market, and how to incorporate macro strategies into everyday investment endeavors in order to achieve lasting success, no matter what lies ahead.
What would have made The Era of Uncertainty better?
Famed investor Howard Marks refers to "first level thinking" as the obvious- what everyone sees. It is obvious and unsophisticated. This book encourages simplistic first-level textbook driven macroeconomics. And it is particularly not worth anyone's time since it really doesn't offer any useful strategies, only vague warnings.The author's owe anyone who took their warnings and ideas at face value their money back and then some. Nearly everything predicted in this book turned out wrong. We're still waiting for inflation, the dollar is at new highs, gold, oil and commodities are down.
Would you ever listen to anything by Francois Trahan and Katherine Krantz again?
Probably not but I'd love to know what rationalizations they are using to comfort themselves with? I'd read their explanation of how they could be so ruinously wrong.
What do you think the narrator could have done better?
Pronounce finance words/terms correctly, like REIT is "reet" not "right".