The Age of Deleveraging: Investment Strategies for a Decade of Slow Growth and Deflation
Top economist Gary Shilling shows you how to prosper in the slow-growing and deflationary times that lie ahead
While many investors fear a rapid rise in inflation, author Gary Shilling, an award-winning economic forecaster, argues that the global economy is going through a long period of de-leveraging and weak growth, which makes deflation far more likely and a far greater threat to investors than inflation. Shilling explains in clear language and compelling logic why the world economy will struggle for several more years and what investors can do to protect and grow their wealth in the difficult times ahead. The investment strategies that worked for last 25 years will not work in the next 10 years. Shilling advises readers to avoid broad exposure to stocks, real estate, and commodities and to focus on high-quality bonds, high-dividend stocks, and consumer staple and food stocks.
Filled with in-depth insights and practical advice, this timely guide lays out a convincing case for why investors need to be prepared for a long period of weak growth and deflation-not inflation-and what you can do to prosper in the difficult times ahead.
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I thought this book was very good. A friend recommended it to me, and he was insightful enough to take his money out of the market before the 2008 crash. When I read it, I knew this guy knew what he was talking about because he actually made money doing what he talks about, not by selling a book or collecting fees on peoples' investments. Anyway, I like that he was not your typical attention-getter doom and gloom guy, and he is not your typical buy and hold / stocks/bonds/cash mix either. He has good insight on new trends that make sense when you consider debt, deficits, demographics, psychology, and most importantly, arithmetic. I have changed my investments in my 403B and Roth IRA by investing in health care, biotechnology, consumer staples, high yield bond funds as well as KMP and NLY. I sleep much better at night now that I have an investment plan based on facts, not a history that may not be relevant in today's world. This is an important read for all ages, and I highly encourage you to do so!
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