Description
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Markets are unpredictable, but your strategy doesn t have to be. This revised and expanded edition of Global Shocks equips individual investors with a practical framework for navigating financial crises and market shocks. Written from a practitioner s perspective, it offers clear guidance and real-world insights to help you protect and grow your portfolio when volatility strikes.
Through 12 compelling case studies from the collapse of Bretton Woods to the COVID pandemic and recent trade tensions you ll learn how crises unfold, how policymakers respond, and how investors can position for resilience and opportunity. Explore patterns in interest and exchange rates, understand the difference between currency crises and asset bubbles, and discover strategies to limit losses and capitalize on recovery.
Timely lessons. Actionable strategies. A must-read for anyone investing in uncertain times.
(Table of content)
1. Overview: A Framework for Investing During Currency Crises and Asset Bubbles.- 2. Bretton Woods' Collapse Alters the World of Investing.- 3. Oil Shocks Generate Massive Payments Imbalances.- 4. Anti-Inflation Policies: Intended and Unintended Consequences.- 5. Policy Coordination Gives Way to Conflict and Turmoil.- 6. Speculators Attack the Concept of European Monetary Union.- 7. Japan's Bubble Culminates in Two Decades of Deflation.- 8. Asia's Real Estate Boom Spawns Global Contagion.- 9. The Tech Bubble: Some Lessons for Rational Investors.- 10. The Global Financial Crisis: No Place for Investors to Hide.- 11. China's Economic Miracle: Is It the Next Bubble?.- 12. The COVID-19 Pandemic.- 13. The Current Trade War.-14. Conclusion: Guidelines for Investing During Crises.
(Author portrait)
Nicholas P. Sargen is an international economist who has turned global money manager. He has been involved in international financial markets since the early 1970s, when he began his career at the U.S. Treasury and the Federal Reserve. He subsequently worked on Wall Street for 25 years, holding senior positions with Morgan Guaranty Trust, Salomon Brothers Inc., Prudential Insurance and J.P. Morgan Private Bank. In 2003 he became Chief Investment Officer for the Western & Southern Financial Group and its affiliate, Fort Washington Investment Advisors Inc. until 2014. He is currently an Economic Consultant and is affiliated with the University of Virginia s Darden School of Business.
Sargen has written extensively on international financial markets, and he has authored three books. He is also a regular contributor to The Hill. He appeared frequently on business television programs throughout his career on Wall Street and was a regular panelist on Louis Rukeyser s Wall Street Week.
Sargen was born and raised in the San Francisco Bay Area and received a Ph.D. in Economics from Stanford University.
