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Great Deleveraging, The: Economic Growth and Investing Strategies for the Future
- By Chip Dickson, Oded Shenkar
- Published Aug 11, 2010 by FT Press.
- Copyright 2011
- Dimensions: 6 X 9
- Pages: 336
- Edition: 1st
- Book
- ISBN-10: 0-13-235810-7
- ISBN-13: 978-0-13-235810-1
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Product Author Bios
Chip Dickson has 20 years of Wall Street experience and ten years as a commercial loan officer. On Wall Street, he was an equity strategist, Associate Director of Equity Research, and All American Institutional Investor-ranked bank analyst. Oded Shenkar, Ford Motor Company Chair in Global Business Management, Fisher College of Business, Ohio State University, has studied international business for 25 years. A Fellow and past VP of the Academy of International Business, he advises many global enterprises. His ten books include the best-selling The Chinese Century.
In the past decade, the United States experienced two periods of excessive growth periods followed by two massive collapses: the technology and housing bubbles. Both were caused by illusions of growth and wealth creation: They were built on thin air. As an investor, how can you distinguish between “fake” wealth and the real thing? Where can you earn solid returns without falling victim to bubbles? Read The Great Deleveraging and find out. Former Wall Street analyst, strategist and Associate Director of Equity Research Chip Dickson and leading global business scholar Oded Shenkar first identify the policies and characteristics of societies most likely to generate real economic growth and investor wealth. Next, they outline specific lessons learned about bubbles and growth from nearly a century of investment returns. Finally, they identify global markets and sectors poised for high levels of sustainable growth--and make specific investment recommendations for each of them. In the wake of massive debt creation, history’s greatest deleveraging is now underway. For many investors, the next decade will be brutal. This book’s messages are designed to achiever real profits and real wealth creation. They are meant to help you navigate a challenging environment--and, hopefully, thrive.
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10 of 10 people found the following review helpful
Vital Topic, Disappointing Book, By
This review is from: The Great Deleveraging: Economic Growth and Investing Strategies for the Future (Hardcover)
Customer review from the Amazon Vine™ Program (What's this?)
The title and byline suggest that you will learn something about the huge "Leverage" (debt) problem, how it will unwind, and how to position yourself for the impending carnage.Sadly, the first 230 pages are just a walk through the decades pointing out all kinds of true stuff that's widely known. Lots of graphs, but very little "ah-hah!". Then comes the book's title chapter, a short medley of platitudes like: "This deleveraging process would be helped greatly by an acceleration of economic growth. History does not provide much hope..." "Services are expected to remain a significant part of the economy..." "Eventually, policies will need to be put in place to allow the private sector to grow faster than the public sector..." "While we cannot know the future, the next two chapters present some tools and rules to help you navigate [the difficult road ahead]." The first 250 pages would be forgivable if it related to... Read more
12 of 15 people found the following review helpful
Unique Information, By
This review is from: The Great Deleveraging: Economic Growth and Investing Strategies for the Future (Hardcover)
Customer review from the Amazon Vine™ Program (What's this?)
This book has three features that set it apart for other finance / stock market books.First, it divides the huge increase in debt in the United States over the last thirty years into categories that shed additional light on to the subject. Debt Buildup subsections: - The sources of this debt expansion - Changes in tax policy - Changes in housing policy - Changes in regulation - Contribution of inflation to debt levels - Government Deficit spending - Successful use of debt to increase profits in the previous years - Declining interest rates - Contribution of energy prices (oil) to debt levels Each of the above sections explains how the debt expansion in this subsection contributed to economic growth. The only other book I have seen that illustrates how debt expansion contributes to economic growth is... Read more
6 of 7 people found the following review helpful
Backwards looking discussion of U.S. economic cycles, pitched at a high school level, By
This review is from: The Great Deleveraging: Economic Growth and Investing Strategies for the Future (Hardcover)
Customer review from the Amazon Vine™ Program (What's this?)
This book has no thesis and makes no useful predictions. The organization seems random. We get an introduction to the danger of letting the government squeeze out private sector growth, then a review of asset returns since the early 20th century, organized not by economic cycle but by decade. Then we get a review of recent economic developments in China, India, and Israel. Finally, the authors' overview of what deleveraging in the United States might look like, if it follows the paths of previous cycles, and a weird "news you can use"-like chapter on managing personal finances and investing in companies with low P/E ratios.The early chapters of the book felt ideological -- Democrats bad, Republicans good, Reagan best. The explosion in national debt/GDP and the rapid drop in savings rates in the Reagan administration are basically ignored. But after the first couple of chapters, the book seems less ideological and just boring. It's all backwards looking; there are no models... Read more |
Online Sample Chapters
Introduction to the Great Deleveraging: Economic Growth and Investing Strategies for the Future
The Great Leveraging: Economic Growth and Investing Strategies for the Future
Table of Contents
Introduction 1
Chapter 1: The Great Leveraging 15
Chapter 2: Growth Realities 43
Chapter 3: Nine Decades of Real Asset Class Returns 63
Chapter 4: Global Economic Growth 101
Chapter 5: Bull and Bear Markets 125
Chapter 6: Global Growth Drivers 151
Chapter 7: Three Emerging Countries 167
Chapter 8: Private Sector Composition 183
Chapter 9: Industry Evolution 205
Chapter 10: The Great Deleveraging 233
Chapter 11: Market Signals 253
Chapter 12: Rules of the Road 275
Index 305
Sample Pages
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