How to Listen When Markets Speak, Lawrence G. McDonald
How to Listen When Markets Speak, Lawrence G. McDonald
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How to Listen When Markets Speak
Risks, Myths, and Investment Opportunities in a Radically Reshaped Economy

Author: Lawrence G. McDonald, James Patrick Robinson

Narrator: James Patrick Robinson

Unabridged: 11 hr 1 min

Format: Digital Audiobook Download

Published: 03/26/2024

Includes: Bonus Material Bonus Material Included


Synopsis

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to the White House, the fantasy of an eventual “return to normal” is still alive and well, nurtured by dangerously outdated theories.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

About The Author

Lawrence McDonald is the founder of the advisory platform The Bear Traps Report, with clients spanning twenty-three countries, and is one of Wall Street’s most respected financial experts. He's made over 1,400 media appearances. Previously, he was a VP at Lehman Brothers. James Robinson is a co-founder of The Bear Traps Report and the CEO of Robinson Speakers Bureau.


Reviews

Goodreads review by Chris on March 29, 2024

7/10 I loved A Colossal Failure, so I was excited for this one. This book gets pretty technical and was a bit hard to follow along in a lot of places. I understood Colossal Failure a lot better, but that may be because I was already pretty familiar with the 08 crisis. I'll definitely give it another li......more

Goodreads review by Michael on April 07, 2024

His basic thesis is that the disinflationary environment that we have been in since the 80’s is over. High levels of U.S. debt have resulted in an environment where the fed can no longer stimulate the economy without the risk of inflation. We are now in an inflationary environment exasperated by a s......more

Goodreads review by Mohammad on April 19, 2025

The global financial markets are going through a new turbulent phase that has caught many by surprise. A sharp jump in volatility, an unprecedented rise in uncertainty and a drop in investors’ confidence are some of the consequences of a seismic shift in the global system especially geo-political, e......more

Goodreads review by Ugh on April 09, 2025

This is a book of two halves: one part an economic history of the past 4 decades or so and one part suggestions for how to position your investments for the coming decade (as of publication in 2024, roughly). The historical part reads nicely, but the suggestions feel very sketchy - basically: go long......more

Goodreads review by Eric on May 05, 2024

I am a subscriber to The Bear Traps Report, Larry McDonald’s daily publication of Bloomberg chats and observations from hundreds of institutional investors and family offices, many of whom are true investment All-Stars, not mere average ballplayers “talking their book.” How to Listen When Markets Sp......more


Quotes

“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
 
“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
 
“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