Overview

"A New York Times bestselling author and leading expert on market risk argues that seismic shifts in the global economy will trigger a multi-trillion-dollar migration of wealth, tracing the fateful decisions that created this crisis-and outlines new rules of investing for the forward-thinking. From Wall Street to the White House, the fantasy of an eventual ""return to normal"" is still alive and well. But an unprecedented era of easy money-nurtured by disastrous policy decisions and artificial disinflationary forces-is coming to a screeching halt. We're about to witness a new era defined by sustained inflation, a series of sovereign and corporate debt crises, and a historic multitrillion-dollar migration of wealth. Few are prepared. Lawrence G. McDonald, founder of the economic research platform The Bear Traps Report, got a real-world education in market risk when, as a Lehman Brothers VP, he watched the firm ignore flashing warning signs before its collapse. His analysis formed the basis of his explosive expose A Colossal Failure of Common Sense and ultimately led him to identify twenty-one indicators for gauging the health of an economy and detecting early signals of opportunity and danger. In How to Listen When Markets Speak, McDonald not only traces the fateful events that led to our current crisis but also unveils his unique predictive models, outlining counterintuitive investing strategies for the years ahead. Readers will learn how the growing demand for oil, coal, precious metals, and rare minerals; underinvestment in urgently needed energy infrastructure; and cozy Russia-Saudi Arabia relations will trigger the next bull market for commodities why America will likely weaken its position as holder of the world's premier reserve currency, and how that should affect your portfolio why hard assets and value stocks will outperform growth stocks, U.S. Treasuries, and overcrowded passive investment strategies Rather than merely doomsaying, McDonald equips readers to resist reactionary narratives, stay a beat ahead of the crowds, and preserve their wealth in turbulent times. When markets speak, it pays to listen."

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9780593727492

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Reviews

“I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.”—Mark Cuban, founder of Cost Plus Drugs and former owner of the Dallas Mavericks   “Larry McDonald’s deep knowledge, experience, and insights have been invaluable in shaping my investment strategies, and How to Listen When Markets Speak is no different. It will sit on the edge of my desk, ready to refer back to frequently. I highly recommended it to anyone keen to protect their wealth in tumultuous times.”—Raoul Pal, CEO and co-founder of Real Vision   “As a journalist who is paid to be skeptical, I have been tracking Larry McDonald’s views on markets for many years. His provocative, passionate, and sometimes prophetic insights are always worth pondering, even (or especially) when you disagree—and reading his analysis has often helped me to see the situation more clearly. I don’t always sit in the same camp, but I appreciate his consistent focus on value investing. His latest book offers strong riposte to the tech hype, bull-market euphoria, and wishful thinking about a soft landing—it is thought-provoking work, particularly at a time when the global zeitgeist and order are changing in profound ways.”—Gillian Tett, columnist and editorial board at Financial Times, Provost at King’s College, Cambridge, and author of Anthro-Visio   “As soon as I finished How to Listen When Markets Speak, I took a long, hard look at my portfolio. Any investor with skin in the game needs to buy this book.”—Niall Ferguson, Stanford historian and author of The Ascent of Money and Doom   “Smart people listen carefully, and they use what they hear to continually question their assumptions. When it comes to markets and their impact on our lives, things change—even the big things. Larry McDonald's, How to Listen When Markets Speak is a consistently compelling contribution to today's debate on the future of financial markets and a challenge to assumptions that have outlived their value.”—Ian Bremmer, political scientist and president of the Eurasia Group

“I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.”—Mark Cuban, founder of Cost Plus Drugs and former owner of the Dallas Mavericks “Larry McDonald’s deep knowledge, experience, and insights have been invaluable in shaping my investment strategies, and How to Listen When Markets Speak is no different. It will sit on the edge of my desk, ready to refer back to frequently. I highly recommended it to anyone keen to protect their wealth in tumultuous times.”—Raoul Pal, CEO and co-founder of Real Vision “McDonald’s provocative, passionate, and sometimes prophetic insights are always worth pondering, even (or especially) when you disagree. His latest book offers strong riposte to the tech hype, bull-market euphoria, and wishful thinking about a soft landing. It is a thought-provoking work at a time when the global zeitgeist is changing in profound ways.”—Gillian Tett, columnist for the Financial Times, provost at King’s College, and author of Anthro-Vision “As soon as I finished How to Listen When Markets Speak, I took a long, hard look at my portfolio. Any investor with skin in the game needs to buy this book.”—Niall Ferguson, Stanford historian and author of The Ascent of Money and Doom “How to Listen When Markets Speak is a consistently compelling contribution to today’s debate on the future of financial markets and a challenge to assumptions that have outlived their value.”—Ian Bremmer, political scientist and president of the Eurasia Group

Author Information

Lawrence G. McDonald is a New York Times bestselling author and the founder of the advisory platform The Bear Traps Report, which has clients across twenty-three countries. One of Wall Street's most respected financial experts, McDonald has made more than 1,400 media appearances. Previously, he was a vice president of distressed debt and convertible securities trading at Lehman Brothers. James Patrick Robinson is the CEO of Robinson Speakers.

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