CRISIS INVESTING
FOR THE REST OF THE '90S
by Douglas Casey
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HERE to buy the book!
(reviewed by Jim Powell,
September 1993)
Increasing numbers of
investors fear those double-barrelled threats--inflation and
stagnation. What to do?
Listen up for some timely
advice from Douglas Casey whose previous super-bestsellers,
Crisis Investing and Strategic Investing, established him as
a star of the hard money movement. An experienced global
player, he offered astute investment analysis with
passionate advocacy of free markets. During the 1970s, he
warned investors about double-digit inflation--and it
happened. He predicted silver prices would skyrocket--and
they did. He predicted gold prices would hit all-time
records--and they did. He recommended certain electric
utility stocks--whose total return soared 400% within five
years. He recommended 23 small energy stocks--whose prices
soared 69-fold in three years. He advised investors to stay
out of commercial real estate--and it crashed. He alerted
investors about the coming S&L debacle-- years before it
became front-page news.
In his book, Casey analyzes
ominous trends pointing toward an economic catastrophe which
will have Clinton's name all over it. Casey explains why he
expects the worsening U.S. debt binge will trigger another
depression like "the unpleasantness of the 1930s." He tells
why the U.S. dollar--already at historic lows against the
Japanese yen--will be substantially wiped out. He warns that
escalating taxes will impoverish millions. While Clinton
didn't originate these trends, he seems to be accelerating
their destructive potential as fast as he can.
Next, Casey outlines a
strategy for protecting your assets and perhaps pocketing
some nice profits along the way. He recommends a "10 by 10"
model portfolio to help conserve capital by adequately
diversifying among investments, governments and national
markets... suggests you minimize exposure in the most
taxable of all investments... explains 3 keys to identifying
good values in the stock market... 5 signs that you could
profit by shorting a stock... how to tell whether a company
is likely to survive tough times... 7 sensible guidelines
for investing in the promising energy sector... the one
foreign currency to diversify with...a born loser investment
you must avoid--despite all the high-powered promotion
behind it...a specific kind of real estate likely to go
up... a revealing bear case for platinum... how to position
yourself in the silver market for a possible tripling of
prices... what to expect in volatile South Africa where
shrewd investors can still find gold stocks (not the obvious
names) with huge profit potential... "junior golds"
well-positioned for the next upswing in gold prices... the 2
best gold mutual funds today.
Although Casey focuses on
protecting your assets, he expresses optimism for the
long-term, principally because nations around the world are
liberalizing their markets. The rewards, he makes clear,
will go to those who survive Clinton's catastrophe.
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Douglas Casey has a quite a
gifted pen, cleverly expressing his skepticism for
investment promoters and government promoters alike. This
makes his book fun to read. Some examples:
"To eliminate
misunderstanding about what taxes are, it is helpful to
define the word 'theft.'"
"Governments are more likely
to control their subjects than themselves."
"Throughout history,
government has served as a vehicle for the organization of
hatred and oppression, benefiting no one except those who
are ambitious and ruthless enough to gain control of it."
"A better term for the
underground economy might be the 'alternative economy,'
since 'underground' has acquired a somewhat pejorative
connotation...In the alternative economy, the sellers earn
more, the buyers pay less, and the State is shut out."
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"I have known Douglas Casey
since the mid-1970's or so. In my opinion, he is one of the
very few original thinkers in the newsletter business or
even in the entire investment world. He is also blessed with
a facility for explaining his ideas in an interesting
manner."
--Harry Browne
"Casey's latest book is not
only his best work, but I feel it is undoubtedly the best
investment guide book published in the last ten
years."
--Jim Blanchard, Gold
Newsletter
"I do believe that Doug
Casey sees deeply into our current plight and properly
alerts Americans to the main causes of freedom-eroding
inflation and unemployment, namely senseless government
spending and debt."
--Rep. Phillip M. Crane,
Member, U.S. Congress
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Top ten classic, April 23,
2000
Reviewer: chshattuck@yahoo.com from Massachusetts
This book pulled me back
from the brink of socialist thinking. It is the quickest
read to understand how the world economy and politics
interact. For all you day traders who are getting crushed
these days, read this for a little long term
philosophy!
Click
HERE to buy the book!
