By Mohamed El Eria
The book described by Alan Greenspan as "an essential read for those who wish to understand the modern world of investing", will help you to better understand the current economic turmoil, providing a thorough and deep analysis of the underlying causes that led to the current crisis. The author highlights the warning signs for the economic crash (unfortunately misinterpreted by investors and policy makers alike) and predicts the characteristics of the future destination the world economy is heading towards. But, most importantly, it outlines a detailed action plan for both policy makers and investors to benefit from the global economic change and minimize their risks.
Nowadays it is hard to get trustworthy economic information but Mohamed El Erian is well qualified in this field. He is co-CEO and co-CIO of PIMCO, one of the largest investment management companies in the world. He formerly served as president and CEO of Harvard Management Company, the firm that manages the university's $35 billion endowment. He spent 15 years at the International Monetary Fund, working on policy, capital market, and multilateral economic issues. If that isn’t convincing enough, then be advised that this book is a New York Times and Wall Street Journal bestseller.
"Investors who wish to maintain strong performance and reduce the risk of sudden and large losses will, I hope, find the insights and framework in this book useful in understanding the context, outlook, and implications of the new global landscape". This is how El Erian describes his book.
Although the language and writing style is simple, the writer assumes that the reader has an understanding of the different economic terms. So a familiarity with the basics is required to be able to fully enjoy and benefit from the advice given.
This book is a must read for all investors or policy makers. It provides a much needed explanation of investment strategy together with detailed advice and an action plan that will surely help you find your way through this world wide financial crisis.
