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Binding: HardcoverDewey Decimal Number: 381.101 EAN: 9780071592819 Edition: 1 ISBN: 0071592814 Label: McGraw-Hill Manufacturer: McGraw-Hill Number Of Items: 1 Number Of Pages: 304 Publication Date: May 23, 2008 Publisher: McGraw-Hill Studio: McGraw-Hill Editorial Review: Product Description: "ONE OF THE SMARTEST INVESTORS ON THE PLANET."--MONEY MAGAZINE “This book is an essential read for those who wish to understand the modern world of investing.” —Alan Greenspan When Markets Collide is a timely alert to the fundamental changes taking place in today's global economic and financial systems--and a call to action for investors who may fall victim to misinterpreting important signals. While some have tended to view asset class mispricings as mere “noise,” this compelling book shows why they are important signals of opportunities and risks that will shape the market for years to come. One of today's most respected names in finance, Mohamed El-Erian puts recent events in their proper context, giving you the tools that can help you interpret the markets, benefit from global economic change, and navigate the risks. The world economy is in the midst of a series of hand-offs. Global growth is now being heavily influenced by nations that previously had little or no systemic influence. Former debtor nations are building unforeseen wealth and, thus, enjoying unprecedented influence and facing unusual challenges. And new derivative products have changed the behavior of many market segments and players. Yet, despite all these changes, the system's infrastructure is yet to be upgraded to reflect the realities of today's and tomorrow's world. El-Erian investigates the underlying drivers of global change to shed light on how you should:
Offering up predictions of future developments, El-Erian directs his focus to help you capitalize on the new financial landscape, while limiting exposure to new risk configurations. When Markets Collide is a unique collection of books for investors and policy makers around the world. In addition to providing a thorough analysis and clear perspective of recent events, it lays down a detailed map for navigating your way through an otherwise perplexing new economic landscape. Average Rating:
 Rating:  - disappointedWhen you read a book like this, you are hoping to learn about the back story about an issue, the inside scoop. The only useful insights I received from this book are that the influence of the IMF and the Fed are dipping due to globlization. Other than that, the author spends a lot of time trying to convince us that the balance of power in the financal system is shifting from the US and Europe to the "expanding economy." Many years ago when I was a McKinsey consultant, Paul Volcker ... Read More Rating:  - 4.5 stars-Needs to clearly differentiate risk from uncertaintyThe author of this book is clearly quite knowledgeable about the standard approach to risk management.He knows that it is badly flawed under conditions of herd behavior.Herd behavior occurs under conditions of Keynesian uncertainty(The decision maker DOES NOT know enough or have enough data that is reliable and non-conflicting to specify a unique distribution.The decision maker works with a set of different distributions and/or intervals.Keynesian or Ellsbergian revision can lead to a change ... Read More Rating:  - Needs a good editEl-Erian's publisher McGraw-Hill badly let down the author, and his readers, with a poor to nonexistent copy-edit. The book is full of jargon and poorly written paragraphs--to illustrate, here is a rather typical one-sentence paragraph: "The challenge of how to deal with consequential and volatile endogenous liquidity relates to another policy issue that I will discuss in Chapter 7: how to refine the traditional instruments of monetary control and ensure more meaningful and sophisticated supervision ... Read More Rating: - Expected moreI purchased this book at an airport while waiting for a flight. It was prominently displayed in the business section of the bookstore (perhaps that should have been a warning). The book includes endorsements from such august figures as Alan Greenspan, Seth Klarman and Michael Spence, yet I doubt if any of them actually read the book in its entirety. Moreover, Mr. Greenspan works as a consultant for PIMCO (also the employer of the author). The book makes some decent macro-orientied observations ... Read More Rating:  - Excellent 5- to 10-year OutlookIt's hard to imagine someone having more cred's than Mohamed El-Erian or having a better understanding of trends in the global economy, and as articulate. For those reasons alone, it's hard for investors, large or small, to justify NOT spending a little with with Mr. El-Erain. This book is a global financial compass, not a recommendation on specific companies to invest in or run from. When Markets Collide gives the reader a frank overview of the forces behind macro global financial trends (i.e, reality check), ... Read More |
