Jim Rickards new book is an interesting read - almost PP like

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Hal
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Jim Rickards new book is an interesting read - almost PP like

Post by Hal » Fri Aug 09, 2019 5:31 am

Hi All,

Just reading a book called "Aftermath" and thought I would post a comment.

Was most interested that Rickards believed that we would be entering a long term low growth environment over the next few years (assumption - not very PP like) and given that, a barbell portfolio should be held consisting of precious metals etc for inflation, bonds etc for deflation and cash. So you have three quarters of a PP already.

The book also does a nice demolition job on the Efficient Market Hypothesis.

An interesting comment near the end of the book is that at present staying in stocks/bonds now might be ok, but eventually may need to go to cash then gold/farmland if things get really out of hand. And this is where I see the PP's only failing... if the economy/currency really get in trouble, I would not want to be rebalancing out of Gold into a failing currency.
(Zimbabwe PP anyone ? )

Did HB ever mention when a PP would not be appropriate?

All comments welcome !
Hal
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europeanwizard
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Re: Jim Rickards new book is an interesting read - almost PP like

Post by europeanwizard » Fri Aug 09, 2019 2:43 pm

Is it US-centric, or global in its narrative? Or is it rather about applying principles?

Great topic, by the way. I love me a good book review.
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Smith1776
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Re: Jim Rickards new book is an interesting read - almost PP like

Post by Smith1776 » Fri Aug 09, 2019 3:45 pm

Hal, NO SPOILERS.

Just kidding. I've been looking soooooo forward to reading this book, and my local library has it on order. I just can't bring myself to pay 30 some odd dollars for the book at the moment. I am having a hard time waiting though.

I am actually a huge fan of the books of James Rickards -- though admittedly more for economic entertainment than buying 100% into his conclusions.

You know what, I may just drive to my local bookstore and just read the darn thing in the store... ;D
e + 1 = 0
Hal
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Re: Jim Rickards new book is an interesting read - almost PP like

Post by Hal » Fri Aug 09, 2019 5:28 pm

europeanwizard wrote:
Fri Aug 09, 2019 2:43 pm
Is it US-centric, or global in its narrative? Or is it rather about applying principles?

Great topic, by the way. I love me a good book review.
What little I have read, it seems to be global in its coverage. Rickards thinks the current system will change due to the debt, and offers several guiding principles. It really is a macro overview - don't expect to find exact percentages for asset allocations, although I did see he suggested 10% Gold, 30% Cash.

In Australia it really is quite pertinent due to *massive* private housing debt and a economy only kept up by Government infrastructure spending.
boglerdude
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Re: Jim Rickards new book is an interesting read - almost PP like

Post by boglerdude » Sat Aug 10, 2019 11:57 pm

> The book also does a nice demolition job on the Efficient Market Hypothesis

Summary?
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