Bubbles- And How to Survive Them

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1、£20.00UKonly/$29.95US(continuedfromfrontflap)AseriesofbubblesandbustsinstockmarketsandMeanwhileinvestorsneedtofindwaystoprotectJOHNP.CALVERLEYhomepriceshaveplayedacentralroleintheworldthemselves.Somemaytrytoridebubbles,exitingatBBUBBLUBBLESESeconomyoverthelast20years.Thevolatileupsthetop,butm

2、arkettimingisalwaysdifficultandanddownsofassetpriceshavebecomeaseriousrisky.AmorebalancedapproachistofocusonthreatnotonlytoeconomicstabilitybutalsototheavoidingtheirworsteffectsbyholdingadiverseCHIEFECONOMIST&STRATEGISTOFfinancialwellbeingofinvestors,homeownersandportfolioandadjustingawayfrom

3、bubblingassets.AMERICANEXPRESSBANKpensionholders.Inthelate1990sFedChairmanAlanGreenspanstoodbackandwatchedasUSandthenEuropeaninvestorsabandonednormalvaluationcriteriaand"Calverleyhaswrittenabookforourtimes:whengrowthisfuelledbyassetcreatedthebiggeststockmarketbubblesincethebubblesandcentralba

4、nkersheldhostagebythefearoftheircollapse.Hebrings1920s.Economiesboomedandmoneyfloodedintoaglobalviewandthelessonsofeconomichistorytodiagnosetheproblem,tothemarketswiththeconvictionthatstocksalwaysdevelopnewideasforpolicymakersandtoprovidesoundadviceforinvestors."outperform"inthelongrun".Dr.De

5、AnneJuliusCBE,Chairman,RoyalInstituteofInternationalAffairsandAftertheinevitablecollapsein2001-2arecessionMember,BankofEnglandÕsMonetaryPolicyCommittee,1997-2001followedintheUSandmuchofEurope.ButtheJohnP.CalverleyisChiefEconomistandStrategistauthoritieshadlearntthelessonsfromthe1930satAmerica

6、nExpressBank.HehasbeenanalyzingandBBUBBLUBBLESESandJapaninthe1990sandavoidedamajordown-writingoneconomicsandmarketsformorethan25"Ifyouareworriedaboutyourfuture,readthisbookwithcare.Ifyou'renot,turnwithrapidcutsininterestratesandthelargestyears.BasedinLondonheisresponsibleforthefiscalstimulusi

7、nUShistory.readandtakeheed.Thisishighquality,X-ratedstuff,notforthefaint-hearted,GlobalEconomicsUnitÕseconomicandinvestmentresearchcapability,advisingmanagementandwrittenwithgreatclarityandbalance.EssentialreadingonanypublicHowever,therewasap