The Fearful Rise of the Markets
- Global Bubbles, Synchronized Meltdowns, and How to Prevent Them in the Future
- Narrated by: Joe Plummer
- Length: 7 hrs and 24 mins
- Unabridged Audiobook
- Release date: 08-27-10
- Language: English
- Publisher: Audible Studios
Regular price: $19.95
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Authers reveals how the first truly global super bubble was inflated - and might now be inflating again. He illuminates the multiple roots of repeated financial crises: a massive shift in investing power from individuals to big institutions; the migration of key decisions from banks to capital markets; the wholesale financialization of many asset classes; and fundamental failures of both theory and policy.
The Fearful Rise of Markets presents a truly global view, avoiding oversimplifications and ideology as it outlines how we got here and where we stand. Even more valuable, it offers realistic solutions - for decision-makers who want to prevent disaster and investors who want to survive it. Topics include:
The herd grows ever larger - and more dangerous
How institutional investing, indexing, and efficient markets theory promote herding
Cheap money and irrational exuberance
Super fuel for super bubbles
Too big to fail: the whole story of moral hazard
Banks, hedge funds, and beyond
Danger signs of the next bubble
Forex, equity, credit, and commodity markets move once more in alignment
Customer ReviewsMost Helpful
By Randy Stanfield on 09-09-10
Remarkable insight into a scary reality
I found this book to be a fascinating look at the markets' behavior over the past 50 years. The author deftly relates the past with that observed in the recent down turn. I feel that I have a much greater understanding of some of the significant factors that led to the series of crashes in 2007 & 2008. It is a definite listen for anyone interested in finance's recent history. It is not an introductory level book though. I am not an expert and have no formal education in finance & economics so it is not an overly academic read. However, if you aren't familiar with terms such as quantitative easing and securitization and don't want to take the time to look them up, then you can get confused quite quickly.
My only criticism is as follows. The theme of the book is that markets are so interconnected that a seemingly unrelated investment can be dramatically affected by the (often illogical) actions of other markets. There is not much emphasis on how one would use this knowledge to avoid past mistakes.
4 of 4 people found this review helpful
By Philo on 11-22-11
Clear overview, fills gaps in other books
This is a thoughtful guided tour of recent financial history. The viewpoint is built around correlations, linkages between deals, markets and asset-classes. I had noticed these on a daily basis and thought them important, but hadn't seen a focused explanation such as this. This book addresses various general investment types and portfolios, showing how the idea of diversification can be an illusion. Oil and commodities fluctuations over the last few decades are one big focus, in the USA and relatedly in emerging markets. But this book is a big-picture overview of the global economy, linkages across its regions and parts, finance innovations, shocks and adjustments over recent times, through 2010, with well-thought considerations for the future. I had seen many of these terms before but always enjoy a new lucid explanation and walk-through with its own angles and nuances. I would put this in my "top 5" of financial books, out of dozens read lately. The downloadable graphs and charts are readily understandable and well-integrated with the text.
1 of 1 people found this review helpful
Customer ReviewsMost Helpful
By Mr on 05-07-18
Absorbing history of the financial crisis.
This is not a "casual" listen, but if you're a finance nerd like me - it's a great book. It's a sober, detailed and well outlined account of the "super-bubble" of the early 21st century, and explanation of the factors that caused so many previously uncorrelated markets to all move together. Such as perverse incentives for money managers punished caution and rewarded recklessness, and blindingly complex risk-assessment models based on pure fantasy.
I enjoyed it very much. The narrator is fine.