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Books : The Little Book of Bull Moves in Bear Markets: How to Keep Your Portfolio Up When the Market is Down (Little Books. Big Profits)
Product Description: Written by seasoned Wall Street prognosticator Peter Schiff–author of the bestselling book Crash Proof: How to Profit from the Coming Economic Collapse–The Little Book of Bull Moves in Bear Markets reveals how you should protect your assets and invest your money when the American economy is experiencing perilous economic downturns and wealth building is happening elsewhere. Filled with insightful commentary, inventive metaphors, and prescriptive advice, this book shows you how to make money under adverse market conditions by using a conservative, nontraditional investment strategy.
Customer Reviews
Average Rating:
Rating: - Can you be any more negative?
I just completed Mr. Schiff's book and I must admit he has some powerful thoughts. He was right on with the real estate bust and the credit crisis and I actually felt sorry for him years ago as fellow contributors would ridicule him on CNBC. However, after reading the book he is one bitter person. So much so that he actually has a chapter in the book asking people to think about moving to another country out of the USA. He referenced the BRIC nations as opportunity because of their economic boom in 2007. However, he needs to follow up and tell the public that since his book was published Russia is down 79%, Brazil 39%, India 35% and China 34% through year end 2008. Does not sound like a great alternative to live? if he is so anti USA maybe it is time for him to leave the country.
Don't get me wrong he makes some good points but he spends 12 chapters telling us how bad and incompentent this country is and one chapter with generic ways to fix it.
Rating: - Informative
This guide is informative enough but pretty much the same as Peter's last book "Crash Proof", except some updates about the dire situation recently ...
While I believe what he put forward is true, that may only happen 10 years later, unless the treasuries bubble goes bust later this year and this may prove to be the inflexion point for some magnificent things, as Peter predicts in this book, to happen.
I'm an investor from Hong Kong. I must say Peter's love for America shown in the book is immense. This book is really written for Americans for their own good, if you believe Peter's prediction is correct.
Rating: - The Little Book of Bull Moves in a Bear Market
The book is very distressing. I hope the US is not in such dire economic condition. I am too old to leave the US, so that advice is not going to be possible for me. Book is well written with much information.
Rating: - Flawed, but worthy
Schiff was among the few who predicted the economic crisis (way before this book was written). Therefore, what he had to say obviously came with some credibility.
In this book (completed in June of 2008), Schiff identified a number of problems with the US economy, most notably that it produces little exportable goods and services, imports and consumes more than it exports and produces, and from the average individual to the federal government the US is living beyond its means. The account deficit, the budget deficit, and the average savings rate are all proof for the notion.
Schiff compares the current economic crisis with the Great Depression, and identifies similarities and differences. His description of the current crisis is based on the premise that the demand destruction is mostly affecting the US, whereas the economic engines (the "BRIC" countries, most notably China) are decoupled from the US economy enough to drive demand for commodities even higher. Thus, whereas the demand destruction in the US would be a deflationary force, due to the uncoupling, the globalized economy will cause an inflation of prices, which will make goods even less affordable to US customers because of the continued fall of the dollar.
I think that the idea has some merit, at least in the long run. However, since the completion of the manuscript, the market's movements suggest that the decoupling idea is wrong. To be truthful, it might not be wrong, but the internal consumption of China and other countries might take time to compensate for the demand destruction in the US. Whether this is merely a delay, or the decoupling idea is totally wrong, only time will tell, but if one acted on Schiff's notion to invest in foreign markets, his losses have been worse than remaining in US stocks. The S&P500 held up better than the EAFE index, and even more so than the emerging markets.
If the idea of decoupling is wrong (as it looks like), the concern for inflation as the main problem is also wrong because what remains is the global demand destruction. The decreased demand is due to the shrinking amount of credit - Schiff also pointed out in this book that international investors will decrease their willingness to invest in US and to buy its Treasuries. All these factors, and the ongoing "deleveraging" (writing off losses, decreasing the debt levels by paying off more than the amount of new borrowing) point to deflation. Needless to say, investment strategies in deflation are different from those in inflation, and that's where the most ... Read More
Rating: - The Little Book . . .
I was very impressed with the author's first book, Crash Proof: How to Profit From the Coming Economic Collapse (Lynn Sonberg Books), but less so with this one. Though there was enough new content that I marked a few pages.
Peter deepens his explanation of economic principles, which were more difficult for non-economy folk to understand. He did, however, put in new material that brought us forward in time from his previous book. He also discussed in more depth both recommendations for the future as well as the "light at the end of the tunnel."
As he recommends, his first book should be read before this one because Crash Proof better presents his rationale.
Worth the time to read--if for no other reason than to see if his new predictions are correct. They are--again.
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