Investing Without Borders: How Six Billion Investors Can Find Profits in the Global Economy
$13.04
| Author(s) | |
|---|---|
| Format |
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| Pages |
227 |
| Published Date |
2010 |
With The Investment Warrior, author Daniel Frishberg- a financial professional with more than thirty years experience in the industry- shows you how to break from the pack and build a winning portfolio. The investor in the old economy didn’t think critically about changing economic or political conditions around the world. He never really had to. He was lulled to sleep by the enduring dominance of the U.S. economy. This book teaches you to be an awake and aware investor, ready for the changing financial environment. Throughout the book, Frishberg discusses what it takes to successfully invest both domestically and abroad and provides practical examples.
Introduction:
Today the borders are dissolving. There’s no meaningful U.S. economy, no meaningful U.S. stock market. You’re not limited to dollars, because you have access to every currency and every opportunity. You have access to six billion new customers, too, but you face fierce competition from six billion relentless competitors. You may find the idea frightening or daunting, but you can’t afford to pretend it’s not happening or you’ll quickly be left behind. Billions of people are ready to sacrifice more and work harder than you are, because they’re determined to give their families what you have. But wait. We also have unprecedented advantages. We’ve been saving and accumulating surplus wealth for the past hundred years, while those new guys were still in the fields planting rice. They need our capital, and they’re willing to pay premium prices for the opportunity to use it. We know exactly what they need and what they’ll buy, and we’ve already been through all the steps they’re about to take.
We can use our insights, our position, and our capital to finance the world’s march forward, and allow those billions to work for us!We can help them win their battles and we can ride on their waves of success. Unfortunately, many of our fellow countrymen will opt instead to live in fear and denial. They’ll hang on by their fingernails and squander their energy trying to hold the rest of the world back, to stifle the relentless advance of the human race as it catches up with us. My mission for the 20-odd years left of my life is to help you use your capital efficiently and skillfully. To help put Investor 1.0 to rest and facilitate the birth and development of Investor 2.0—a new breed of investor, conscious and awake, who gets to take advantage of every new development and lead the human race to where it’s headed anyway.
The best stock pickers, the most brilliant economists and financial thinkers join me daily on radio and TV; I meet with them socially, and we share business ideas. It’s a joy for me because I get to process the best information on the planet and pass it on to you as quickly and as thoroughly as I possibly can. This book has proven to be very satisfying to me in that endeavor. Of course, we won’t ever be able to identify every opportunity. We’ll never know whether we’re missing something somewhere; in fact, I always assume we are. But we continue to march forward, always making progress, always stronger, always richer, keeping each other awake, and using our precious capital to help the billions around the world get what they want and need. Turn the page and join me and the thousands of others who are getting to ride on the success and progress of our world, a world of six billion opportunities, six billion competitors. From an economic standpoint, it’s a new world. A world without borders.
Contents:
- America the Dominator: How the U.S. Became the Most Powerful Country on the Planet
- Before the Borders Came Down: How the Wall Street Liars Shot Themselves (and the Rest of Us) in the Foot
- The Media Act: You Can’t Believe Everything You Read or Hear or See
- Cashing in on Six Billion Opportunities: Decision-Making 2.0
- Unlock the Billionaire Inside You: Here’s the Key, Easy Instructions Included
- Being Investor 2.0: Replace Your Old-World View
- Welcome to the Big Leagues: The Preparation: Homework is Critical, Roadwork is Crucial
- More Skills, More Opportunities: Understand the Indicators and Develop Appropriate Strategies
- More Strategies: Deciding How to Get out Before You Get in
- Demand Top Dollar: The World Needs Your Money—Invest with the Rich and Famous
- Now You Have the Power: Create the Results You Want! Earnings Season
Investing Without Borders: How Six Billion Investors Can Find Profits in the Global Economy By Dan Frishberg pdf
2 reviews for Investing Without Borders: How Six Billion Investors Can Find Profits in the Global Economy
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Darwin Jacobson (verified owner) –
I’m a strong believer in investing globally and I wanted very much to like this book. Borders are certainly less important to investors these days and I looked forward to Frishberg’s thoughts on how to benefit. There weren’t many, and most were nothing more than snide comments about the current administration’s regulatory efforts. Perhaps the book’s subtitle should have tipped me off that I would be disappointed: “How 6 Billion Investors Can Find Profits in the Global Economy.” With the world’s population currently at about 6.6 billion, that would mean nearly everyone, everywhere, would somehow be rolling in dough – a nice concept, but hardly realistic.
There are some nice moments. Frishberg deftly explains bonds by comparing them to rental properties, for example. He talks, relatively briefly, about how the world’s need for water may provide some outstanding investment opportunities. He includes several entertaining transcripts of interviews conducted on his radio show (although there are so many extraneous details it seems surprising he didn’t transcribe the commercials, too).
But it’s hard to get past Frishberg’s political diatribes and his smugness (“I can almost see you evolving as you’re reading this” and “If I were you, I’d mark this chapter and come back to it often – maybe every time you start to think about your investments” and “you will be a witness to how one of the most successful nine-figure portfolios in the country is managed” and “My mom used to warn me when I was a kid trading silver contracts to make it through college…”), as well as assertions like these:
* “We (the US) started writing music and developing the arts while many countries were still trying to figure out how to build roads.” (The Renaissance happened well before this country was founded.)
* “Face it, nobody goes to the library anymore.” And “In every major city in the United States the public library is virtually empty.” (Untrue in my experience, and I suspect Frishberg is simply assuming others are like him.)
* “Not one person who relies on analysts’ earnings forecasts has made any real money in many, many years – not one.” (It is impossible to prove this statement.)
* “If you’re trying to win love rather than trying to win because you’re playing for money, it’s going to make you weak every time.” (True if you choose to measure strength purely in financial terms, which sounds like a lonely way to go.)
* “Securitization, credit default swaps, collateralized debt obligations – these are all newly engineered types of cash, designed to create enough capital to feed the hungry, developing global economy. And most certainly, this financial engineering will eventually prove to be the answer, right after more of us learn to navigate the complexities.” (As Michael Lewis so ably illustrated in The Big Short, the whole point of those complex instruments is to confuse nearly everyone and enrich only those pulling the strings.)
* “So the families who make up the one and a half percent of the population (the ones who are in the more-than-$250,000 range) are going to be charged with paying it all back. If you look at that as a 20-year mortgage, that’s $5 trillion shared among those people, leaving each one of them owning about a $2 million mortgage! It’s simple math, and it means that they’ll have about $179,000 a year worth of mortgage payments facing them. Don’t forget, they only make $250,000.” (No, they’re in the “more-than-$250,000 range” and it’s fair to assume many make quite a bit more than that.)
* “When the accounting standards were modified the problem (bank credit crunch) disappeared.” (There’s a problem? Change the accounting standards. Problem solved!)
* “I say Blackstone is a stock you can learn about, get confidence in, and buy and sell several times in your life. Whether the market falls too in love or gets too panicked – at either extreme the market will be wrong because Blackstone is just gonna keep rolling along, basically ignoring the market and the government and the regulators. Remember, these are the smartest guys in the room.” (Where have I heard that phrase before? Oh, yeah: Enron! Interestingly, elsewhere in the book, Frishberg says “you don’t often hear me giving specific stock tips or stock advice, and I certainly couldn’t do it in a book.” Blackstone’s one of a dozen or so companies recommended in this volume.)
* “How about I take all 150 homes (originally sold at $250,000 and currently priced at $150,000) off your hands for 80 grand apiece? You’ll be out of trouble, the homes will be absorbed by people who can now afford to live in them, the neighborhoods won’t be blighted, life will go on, and everybody wins.” (Except for the pesky implications of deflation.)
* “Stop listening to the whining herd and think for yourself. That’s what I’m here for. That’s what this book is providing that nobody else does for you.” (Huh? If I’m supposed to think for myself, why would I want Frishberg to do it for me?)
After writing this review, it dawned on me to look into the author a bit more closely. So I Googled “Frishberg” and a few other terms, including “SEC.” Suffice it to say I wish I’d done that before I bought the book.
Royal Holloway (verified owner) –
I started reading this book during a work event and found myself unable to put it down! It is an amazing book with so much insight on how to navigate in today’s market, and makes a world of sense. Dan Frishberg is right on about investing without borders, and how six billion investors can find profits in the global economy. This book gives me great insight at a time in the market where I didn’t know where to turn. I think this is an amazing book for any investor to read, as it has given me more confidence and undertanding in the economy and markets. Must Read!!!