The Bull Inside the Bear Finding New Investment Opportunities in Todays Fast-Changing Financial Markets

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  • Edition: 1st
  • Format: Hardcover
  • Copyright: 2009-03-03
  • Publisher: Wiley
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The meltdown in the credit markets, the decline in housing prices, and the turmoil in the stock market has rocked the world of the everyday investor. The idea that home ownership and the stock market are the best long-term investments suddenly has been thrown into question. Bearish investment experts are touting historical research that suggests both real estate values and the stock market could stagnate for years to come, thus imperiling the retirement planning of millions of Americans. In The Bull Inside the Bear, investment manager and former Federal Reserve economist Rob Stein argues that the economy is entering uncharted water and investors need to actively manager their portfolios to take advantage of new opportunities and avoid risky sectors. No longer can investors simply rely on a "buy and hold" strategy. The key will be to stay nimble and be ready to increase stock holdings if the economy recovers strongly and be ready to substantially reduce stock holdings if the current problems continue to weigh down economic performance. Moreover, investors must be open to weighting their portfolios in favor of hot sectors depending on economic and financial market performance. Stein argues that it will take several years for the credit markets to stabilize following the crash of the Greenspan-driven credit expansion, which will make investing far more volatile and unpredictable than previously. But by adroitly moving in and out of exchange-traded funds, individual investors will be able to prosper in this new and challenging investment environment.

Author Biography

Robert Stein is an economist, portfolio manager, and Senior Partner of Astor Asset Management, LLC, which uses a macroeconomic model to make investment decisions. Stein is also managing partner of ETFPort.com, the Web's premier location to find and research exchange-traded funds. He writes frequently about the markets, and has been featured in the Wall Street Journal, BusinessWeek, the New York Times, and USA Today, and can be seen on CNN, CNBC, Fox News, Bloomberg Television, and ABC News.

Table of Contents

The Credit Market Meltdown
How Has the World Changed?
The Next Bull and Bear
A Valuable History Lesson
The Four Stages of a Recurring Cycle
Always a Bull Inside the Bear
The Role of the Fed
The World As We Know It
Today's World and Money Supply
Conclusion: A Changing, Consistent World
Bubbles, Bursts, and Blips: A View of the Past
The 1970s: The Gold Bubble Inflates
The 1980s: Two Dips and a Blip
The 1980s in Perspective
The 1990s: An Expansion Here, a Bubble There
The 2000s and the Liquidity Bubble
Looking Ahead
The Bull Inside the Bear: The Next Bubble to Burst-and Bull to Emerge
Inflation: The Factor That Is Always with Us
Inflation to the Rescue
Causes of Inflation
The Wage-Infl ation Equation
Wage Pressures and Infl ation
Oil Prices: The Ouch That Stings
Infl ation Is Always an Issue
The 1970s: Whipping Double-Digit Inflation
The Greenspan Years
Bernanke Takes Over
The Bull Inside the Bear: Your Inflation Opportunities
Stay Alert and Nimble
What Does It All Mean for Me?
The Credit Cycle
An Overview of the Housing Cycle
The Four Phases of the Credit Cycle
The Pivotal Moment: A Nod to Minsky
Banking 101
Now the Deleveraging Begins
Credit Cycle Impact
Bull Inside the Bear: It's Not the End of the World
The Housing Bubble: From Watch to Warning
Nearly 70 Percent Home Ownership in the United States
Nesting Instinct
The Weather Watch
A Loan for Everyone
From Watch to Warning
Slice-and-Dice Debt Packages
One Last Blast to Inflate the Bubble
A Violent Storm: The Bursting of the Bubble
The Impact on U.S. Economic Growth
The Bull Inside the Bear: Lessons from a Housing Bubble
The Fed as FEMA
The Fed to the Rescue
A Short History of the Fed
The Fed Steps In
Greenspan and the Stock Market
Greenspan and Liquidity
Liquidity Flows and Flows
Bailing out Bear Stearns
The Hidden Cost of Fed as FEMA
The Bull Inside the Bear: The Fed, Intervention, and You
Your Next Opportunity
Take Heart-Or at Least Take Heed
Understanding Current Events
Where's the Bull?
Beware of Bonds: The Next Bubble to Burst
The Bull Inside the Bear: Reverting to the Mean
Let's Talk Game Plan
Doubling the Dow
Investment Lessons to Live By
ETFs: The Perfect Investment
An Investment for Uncertain Times
Using ETFs
ETF Innovation
Pure Investment, No Ego
ETFs for Retirement Plans
Thinking Like an Economist
Going Short by Going Long
Choosing Sectors
On the Radar for 2009
The Bull Inside the Bear: See the Forest, Focus on the Trees
Table of Contents provided by Publisher. All Rights Reserved.

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