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How to Listen When Markets Speak: Risks, Myths, and Investment Opportunities in a Radically Reshaped Economy Audiobook
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A New York Times bestselling author and leading expert on market risk argues that seismic shifts in the global economy will trigger a multi-trillion-dollar migration of wealth, outlining new rules of investing for the forward-thinking.
“I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.”—Mark Cuban
From Wall Street to the White House, the fantasy of an eventual “return to normal” is still alive and well, nurtured by dangerously outdated theories. But the economic world as we know it—and the rules that govern it—are over. In the coming decade, we’ll witness sustained inflation, a series of sovereign and corporate debt crises, and a thundering of capital out of financial assets into hard assets.
Few are prepared.
Lawrence G. McDonald, founder of the economic research platform The Bear Traps Report, got a real-world education in market risk when, as a Lehman Brothers VP, he watched the firm ignore flashing warning signs before its collapse. His analysis led him to identify twenty-one indicators for gauging the health of an economy and detecting early signals of opportunity and danger.
In How to Listen When Markets Speak, McDonald unveils his unique predictive models, connecting surprising dots between past, present, and future and outlining actionable trading ideas for staying a beat ahead of the markets. Readers will learn:
• How disastrous Fed policy will collide with an increasingly fragmented geopolitical landscape to keep U.S. inflation near 3-5% for the next decade
• How growing demand for oil and gas, underinvestment in urgently needed energy infrastructure, and cozy Russia–Saudi Arabia relations will lift the base price of energy to historic levels
• Why hard assets and rare minerals like lithium and cobalt will outperform growth stocks, U.S. treasuries, and overcrowded passive investment strategies—how to detect bearish and bullish trends in advance
• How passive investing and the vehicles intended to democratize finance have fueled bubbles and ideological skew by large market participants, leaving millions of 401(k)s and IRAs at risk
• Why America will likely lose its position as a global superpower and holder of the world’s premier reserve currency, and may be forced to slash Social Security, Medicare, and military spending
Rather than merely doomsaying, How to Listen When Markets Speak equips readers to make sense of our current moment, resist reactionary narratives and baseless analysis, and preserve their wealth in turbulent times. When markets speak, it pays to listen.
*Includes a downloadable PDF of charts and graphs from the book
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"As a journalist who is paid to be skeptical, I have been tracking Larry McDonald’s views on markets for many years. His provocative, passionate, and sometimes prophetic insights are always worth pondering, even (or especially) when you disagree—and reading his analysis has often helped me to see the situation more clearly. I don’t always sit in the same camp, but I appreciate his consistent focus on value investing. His latest book offers strong riposte to the tech hype, bull-market euphoria, and wishful thinking about a soft landing—it is thought-provoking work, particularly at a time when the global zeitgeist and order are changing in profound ways."
— Gillian Tett, columnist and editorial board at Financial Times, Provost at King’s College, Cambridge, and author of Anthro-Visio
Quotes
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I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.
— Mark Cuban, founder of Cost Plus Drugs and former owner of the Dallas Mavericks -
Larry McDonald’s deep knowledge, experience, and insights have been invaluable in shaping my investment strategies, and How to Listen When Markets Speak is no different. It will sit on the edge of my desk, ready to refer back to frequently. I highly recommended it to anyone keen to protect their wealth in tumultuous times.
— Raoul Pal, CEO and co-founder of Real Vision -
McDonald’s provocative, passionate, and sometimes prophetic insights are always worth pondering, even (or especially) when you disagree. His latest book offers strong riposte to the tech hype, bull-market euphoria, and wishful thinking about a soft landing. It is a thought-provoking work at a time when the global zeitgeist is changing in profound ways.
— Gillian Tett, columnist for the Financial Times, provost at King’s College, and author of Anthro-Vision -
As soon as I finished How to Listen When Markets Speak, I took a long, hard look at my portfolio. Any investor with skin in the game needs to buy this book.
— Niall Ferguson, Stanford historian and author of The Ascent of Money and Doom -
How to Listen When Markets Speak is a consistently compelling contribution to today’s debate on the future of financial markets and a challenge to assumptions that have outlived their value.
— Ian Bremmer, political scientist and president of the Eurasia Group -
I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.
— Mark Cuban, founder of Cost Plus Drugs and former owner of the Dallas Mavericks -
Larry McDonald’s deep knowledge, experience, and insights have been invaluable in shaping my investment strategies, and How to Listen When Markets Speak is no different. It will sit on the edge of my desk, ready to refer back to frequently. I highly recommended it to anyone keen to protect their wealth in tumultuous times.
— Raoul Pal, CEO and co-founder of Real Vision -
As soon as I finished How to Listen When Markets Speak, I took a long, hard look at my portfolio. Any investor with skin in the game needs to buy this book.
— Niall Ferguson, Stanford historian and author of The Ascent of Money and Doom -
Smart people listen carefully, and they use what they hear to continually question their assumptions. When it comes to markets and their impact on our lives, things change—even the big things. Larry McDonald's, How to Listen When Markets Speak is a consistently compelling contribution to today's debate on the future of financial markets and a challenge to assumptions that have outlived their value.
— Ian Bremmer, political scientist and president of the Eurasia Group -
I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.
— Mark Cuban, founder of Cost Plus Drugs and longtime Shark Tank investor -
Larry McDonald’s deep knowledge, experience, and insights have been invaluable in shaping my investment strategies, and How to Listen When Markets Speak is no different. It will sit on the edge of my desk, ready to refer back to frequently. I highly recommend it to anyone keen to protect their wealth in tumultuous times.
— Raoul Pal, CEO and co-founder of Real Vision
How to Listen When Markets Speak Listener Reviews
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Eugene Venter, 6/18/2024
About the Authors
Lawrence G. McDonald was, until 2008, Vice President of convertible securities and distressed debt trading at Lehman Brothers; his prior career included convertible securities research and sales at Morgan Stanley and the co-founding of Convertbond.com.