Tomorrow's Gold-
Asia's Age of Discovery
Description:
Renowned investment advisor Marc Faber
sets out to find tomorrow's gold - the outperforming asset
classes of the future. Far from being a sensational reading of
the runes, this book delves deep into the past, to chart how old
investor trends developed and assess how new patterns might
emerge.
Change is the thread. As Faber points
out, the world is experiencing a transformation as great as the
late 15th Century's golden age of discovery and the industrial
revolution of the 19th Century - events that altered the
commercial face of the earth forever.
And from this dramatic landscape - a
world in which economic, social and political conditions are
morphing at an alarming rate - Faber identifies investment
opportunities.
Asia's three billion-strong population
will have a profound effect on the world, writes Faber,
cautioning that today's richest cities and clusters of wealth
are unlikely to retain their exalted positions in the future.
About the
Author
Dr Marc Faber is a contrarian. To be a
good contrarian, you need to know what you are contrary about.
It helps to be a world class economic historian, to have been a
trader and managing director of Drexel Burnham Lambert when the
firm was the junk bond king of Wall Street, to have lived in
Hong Kong for a quarter of a century, and to have a contact book
crammed with the home numbers of many of the movers and shakers
in the financial world.
Famous for his approach to investing,
Marc Faber does not run with the bulls or bait the bears but
steers his own course through the maelstrom of international
finance markets. In 1987 he warned his clients to cash out
before Black Monday on Wall Street. He made them handsome
profits by forecasting the burst in the Japanese Bubble in 1990.
He correctly predicted the collapse in US gaming stocks in 1993;
and he foresaw the Asia-Pacific financial crisis of 1997/98 and
the resulting global volatility.
Table of
Contents
|
Acknowledgements |
vii |
|
Foreword |
ix |
|
1. |
A world of change |
1 |
|
2. |
Major future investment themes |
7 |
|
3. |
A caution about high-return
investment expectations |
37 |
|
4. |
Another warning to emerging market
investors! |
47 |
|
5. |
The life cycle of emerging markets |
71 |
|
6. |
Business cycles - Alive and well! |
93 |
|
7. |
Long waves in economic conditions |
110 |
|
8. |
New eras, manias and bubbles |
145 |
|
9. |
Opportunities in Asia |
183 |
|
10. |
The economics of inflation |
214 |
|
11. |
The rise and fall of centres of
prosperity |
231 |
|
12. |
Why the US is unlikely to provide the
next leadership |
271 |
|
13. |
Asia in transition |
312 |
|
Epilogue: Wealth inequality - The
great shadow |
330 |
|
Bibliography |
348 |
|
Index |
356 |
|
