Market Upside Down
How to Invest Profitably in a Shrinking Economy (paperback)
Published on 25. February 2013
Book
Paperback/Softback
336 pages
978-0-13-338398-0 (ISBN)
Description
The Market Crisis Has Just Begun...
Protect Your Wealth Through the Longest, Deepest Down Market in History
"Vinh Tran's deep knowledge of global economic events and his skill as a market participant shine through in Market Upside Down, wherein he illuminates the structural problems that exist in the U.S. economy and the ongoing risks these problems pose to investors. The book gives investors practical strategies for thriving in turbulent times and is important for anyone who wants to understand the new normal of the investing landscape."
-Tony Crescenzi, Strategist and Portfolio Manager, PIMCO and Author of Investing from the Top Down and The Strategic Bond Investor
"The fall in real estate values, credit market crises, and the stock market crash of 2008 and their effects worldwide put into question all that we have learned about investing. Vinh Tran provides the first best guide to making investment decisions for the future."
-Ronald W. Sellers, Chairman, CEO, Atlantic Asset Management
"Market Upside Down is a cautionary tale of the evils of debt. Our economic woes won't end with the resolution of the mortgage-backed securities crisis. Investors are facing a new crisis caused by massive government debt. But, fear not, Vinh Tran doesn't leave his readers unprotected. In his insightful book, he shares his strategies for profiting in down markets by investing in assets that promote liquidity, are diverse, help preserve capital, and manage unforeseen risks."
-Thong M. Nguyen, Group Executive, Fiduciary Solutions, Bank of America, Global Wealth and Investment Management
"...This is a provocative and well-documented book, full of interesting ideas. It deserves your attention."
-Annette Thau, Ph.D., Author of the bestselling The Bond Book
Protect Your Wealth Through the Longest, Deepest Down Market in History
"Vinh Tran's deep knowledge of global economic events and his skill as a market participant shine through in Market Upside Down, wherein he illuminates the structural problems that exist in the U.S. economy and the ongoing risks these problems pose to investors. The book gives investors practical strategies for thriving in turbulent times and is important for anyone who wants to understand the new normal of the investing landscape."
-Tony Crescenzi, Strategist and Portfolio Manager, PIMCO and Author of Investing from the Top Down and The Strategic Bond Investor
"The fall in real estate values, credit market crises, and the stock market crash of 2008 and their effects worldwide put into question all that we have learned about investing. Vinh Tran provides the first best guide to making investment decisions for the future."
-Ronald W. Sellers, Chairman, CEO, Atlantic Asset Management
"Market Upside Down is a cautionary tale of the evils of debt. Our economic woes won't end with the resolution of the mortgage-backed securities crisis. Investors are facing a new crisis caused by massive government debt. But, fear not, Vinh Tran doesn't leave his readers unprotected. In his insightful book, he shares his strategies for profiting in down markets by investing in assets that promote liquidity, are diverse, help preserve capital, and manage unforeseen risks."
-Thong M. Nguyen, Group Executive, Fiduciary Solutions, Bank of America, Global Wealth and Investment Management
"...This is a provocative and well-documented book, full of interesting ideas. It deserves your attention."
-Annette Thau, Ph.D., Author of the bestselling The Bond Book
Reviews / Votes
"The author provides readers with a realistic assessment of the economic and financial implications of existing government policies going forward, as well as the turbulent stock market history and performance. With this knowledge, coupled with the author's recommendation of an absolute return strategy, investors will have the insight necessary to set appropriate financial goals and manage their assets in the upside-down stock market." Futures MagazineMore details
Person
Dr. Vinh Q. Tran has spent more than 20 years as a money manager for global financial institutions including Morgan Stanley, Bank of America, and Aetna Life & Casualty, where he managed global investments, hedged equities and alternative investments, and advised wealthy individual and institutional investors. Throughout his career, Dr. Tran has earned high acclaim for his investment performance from Fortune, The New York Times, Morningstar, and others.
Dr. Tran has taught advanced investment as adjunct professor of Finance at NYU's Stern School of Business. He holds a Ph.D. and MBA in Finance from George Washington University, and graduated magna cum laude in both Accounting and Political Science from the University of Dalat, Vietnam.
Dr. Tran is the author of Evaluating Hedge Fund Performance and Foreign Exchange Management in Multinational Firms. He resides in Greenwich, Connecticut with his wife and two children.
Dr. Tran has taught advanced investment as adjunct professor of Finance at NYU's Stern School of Business. He holds a Ph.D. and MBA in Finance from George Washington University, and graduated magna cum laude in both Accounting and Political Science from the University of Dalat, Vietnam.
Dr. Tran is the author of Evaluating Hedge Fund Performance and Foreign Exchange Management in Multinational Firms. He resides in Greenwich, Connecticut with his wife and two children.
Content
Acknowledgments xii
About the Author xiii
Introduction 1
Chapter 1: Black Swan Octobers 7
Chapter 2: Japan: The Setting Sun 33
Chapter 3: The Root Causes: Leveraging and Excess 59
Chapter 4: The New Economic Reality 83
Chapter 5: Bulls and Bears: The Long Cycles 113
Chapter 6: Investment Paradigms: Beliefs and Reality 133
Chapter 7: Investing in Markets Upside Down 157
Chapter 8: Beware of the Risks 181
Chapter 9: Absolute Return: Manage Risks and Build Wealth 203
Chapter 10: Absolute Return and Alpha 231
Chapter 11: Beyond the Traditional 261
Conclusion 287
Notes 293
Index 311
About the Author xiii
Introduction 1
Chapter 1: Black Swan Octobers 7
Chapter 2: Japan: The Setting Sun 33
Chapter 3: The Root Causes: Leveraging and Excess 59
Chapter 4: The New Economic Reality 83
Chapter 5: Bulls and Bears: The Long Cycles 113
Chapter 6: Investment Paradigms: Beliefs and Reality 133
Chapter 7: Investing in Markets Upside Down 157
Chapter 8: Beware of the Risks 181
Chapter 9: Absolute Return: Manage Risks and Build Wealth 203
Chapter 10: Absolute Return and Alpha 231
Chapter 11: Beyond the Traditional 261
Conclusion 287
Notes 293
Index 311