An up-close look at the fixed income market and what lies ahead
Interweaving compelling, and often amusing, anecdotes from
author Simon Lack's distinguished thirty-year career as a
professional investor with hard economic data, this engaging book
skillfully reveals why "Bonds Are Not Forever." Along the way, it
provides investors with a coherent framework for understanding the
future of the fixed income markets and, more importantly, answering
the question, "Where should I invest tomorrow?"
"Bonds Are Not Forever" chronicles the steady decline in
interest rates from their peak in the 1980s and the concurrent drop
in inflation during that period. Lack explains how those two
factors spurred a dramatic growth in borrowing among both
governments and individuals. Along the way, Lack describes how a
financial industry meant to provide capital needed to drive
productivity and economic growth became disconnected from Main
Street and explores the grave economic, social, and political
consequences of that disconnect.Provides practical solutions for
avoiding the risk of falling bond markets and guaranteed negative
real returns on savingsExplains how the bursting of the real estate
bubble in 2007-2008 led to massive borrowing by governments as they
attempted to offset a sharp fall in economic activityDetails how
the trends of exploding debt and a financial sector that has grown
much bigger than it needs to be have dramatically changed the game
for savers
Offering a uniquely intimate, yet analytically thorough look at
the coming fixed income crisis, "Bonds Are Not Forever" is must
reading for investment professionals, as well as retail investors
and their advisors.
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