Against the Herd

ISBN-13: 9781118083185 / Angielski / Twarda / 2011 / 208 str.

Steve Cortes

Opis

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.

• Steve Cortes presents six contrarian views of major events that will shape the future for investors including the fall of China and the end of the golden era of free trade
• The contrarian stances are presented because they are actionable
• Reveals how these events will affect global markets and specific investments, and how and when to take advantage of these key moves

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.

Spis treści

Introduction 1

Chapter 1 The Corleones Meet Confucius 7

The Chinese Mirage of Miracle Expansion

Chapter 2 Dolls Are Meant for Children 33

Japan Stares into the Abyss of a Death Spiral

Chapter 3 Can t Touch This 57

Resist the Allure of Gold

Chapter 4 House of Pain 81

Housing Does Not Recover Anytime Soon

Chapter 5 You Can t Handle the Truth, or the Volatility 123

Don t Own Stocks (or at Least Not So Many)

Chapter 6 Still the One 151

Get Long–Term Bullish on America

Conclusion 175

Notes 177

Acknowledgments 185

About the Author 187

Index 189

O autorze

STEVE CORTES appears daily on CNBC′s Fast Money where he is one of several regular commentators. He also appears frequently during Fast Money′s "Halftime Report." He is the founder of Veracruz, a consulting firm providing real–time market research to brokers/dealers, hedge funds, and sovereign wealth funds. His research covers topics ranging from global markets and equity sectors to currencies and fixed income. In addition to trading independently, Cortes provides market consulting services to a number of institutional clients.

Blurb

" Against the Herd is to investment what Freakonomics was to economics smart, savvy, counterintuitive insights that are fun to read. Steve Cortes shows why in today′s global ugly contestant beauty pageant where the least ugly wins America could come out on top." David M. Smick, author of the international bestseller The World Is Curved: Hidden Dangers to the Global Economy

"I′ve had the honor of knowing Steve Cortes for years, having met him during his days as a trader in Chicago. He impressed me then with his broad, ′macro′ view of the global economy, a view I have always shared. His inputs have made me a better analyst and, most importantly, a better trader and investor. I cannot recommend his new book, Against the Herd, strongly enough. If he′s helped me, a thirty–five–year veteran of the markets, certainly, his thoughts will help you, the reader." Dennis Gartman, The Gartman Letter and a 37 year veteran of the market

"Knowing when to run pliantly with the herd, and when to stand firm against it, has always been for me a key element of a successful investment strategy. Steve′s refreshing look at this topic provides six intriguing examples of where the global herd might be about to run off the cliff in a big, very expensive way. Whether you agree with him in all six cases or not, this book is a must–read for anyone looking to successfully navigate today′s volatile capital markets." Steve Auth, Chief Investment Officer, Equities, Federated Investors

"Want to learn how to zig when everyone else zags? Read Against the Herd and become a better investor." Gary Kaminsky, co–host CNBC′s The Strategy Session, twitter.com/CNBCStrategy