Saturday, February 02, 2008

Legendary Investor Counsels Rich to Prepare for War in "Wealth, War, and Wisdom"

Excerpt from Bloomberg:

Biggs's Tips for the Rich: Expect War, Study Blitz, Mind Markets

Jan. 30 (Bloomberg) -- Barton Biggs has some offbeat advice for the rich: Insure yourself against war and disaster by buying a remote farm or ranch and stocking it with "seed, fertilizer, canned food, wine, medicine, clothes, etc.''

The "etc.'' must mean guns.

"A few rounds over the approaching brigands' heads would probably be a compelling persuader that there are easier farms to pillage,'' he writes in his new book, "Wealth, War and Wisdom.''


Biggs is no paranoid survivalist. He was chief global strategist at Morgan Stanley before leaving in 2003 to form hedge fund Traxis Partners. He doesn't lock and load until the last page of this smart look at how World War II warped share prices, gutted wealth and remains a warning to investors. His message: Listen to markets, learn from history and prepare for the worst.

[snip]

My Take: I haven't read this yet, but I will certainly be getting a copy.

According to his bio, author Barton Biggs spent 30 years at Morgan Stanley. Capping his many achievements, he served as Chairman of the investment management firm.

At various times during this period (1973-2003) he was ranked as the number one U.S. investment strategist by the Institutional Investor magazine poll and then, from 1996 to 2003, as the number one global strategist. In 2003, Biggs left Morgan Stanley and, with two other colleagues, formed Traxis Partners. Traxis now has well over a billion dollars under its management.

On "War, Wealth, and Wisdom," the publisher summarizes:

During our current years of political upheaval and dramatic market swings, it's important to look back on historic periods to gain insights into the direction of stocks and economic stability for investment opportunities today. In Wealth, War, and Wisdom, legendary Wall Street investor Barton Biggs has analyzed, for the first time, the major events of World War II and how they shaped the stock market and individual wealth from 1930 to 1945. No one before Biggs has traced this intersection, and the lessons for investing today are unparalleled. In Wealth, War, and Wisdom, Biggs discusses the performance of equities in both victorious and defeated countries. He then reveals how individuals preserved their wealth and explores whether or not public equities were able to increase in value and serve as a wealth preserver in spite of the ongoing battles. Besides examining the stock market, Biggs looks at how other assets, including real estate and gold, fared during this dynamic and devastating period. His unique account of the Second World War is lively and lesson-filled on life, politics, and survival, and completely relevant to predicting the way modern financial markets and the economy may act during times of uncertainty. Filled with in-depth insights and practical advice, Wealth, War, and Wisdom will help investors apply these original financial lessons directly, and beneficially, to today's turbulent markets.


Get Ready ... Seriously - www.safecastleroyal.com

1 comment:

theotherryan said...

Hearing dire predictions from survivalists is normal but when someone who is not a survivalist starts making them it is not a good sign.