Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression

Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression

3.5 11
by Robert R. Prechter Jr.
     
 

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If you did not read Robert Prechter’s At the Crest of the Tidal Wave (1995), you might have become the victim of any one of a dozen financial debacles. You might have held junk bonds, which have been collapsing ever since. You might have slaved over a demanding job that paid you in stock options that are now worthless. You might have speculated in Internet

Overview

If you did not read Robert Prechter’s At the Crest of the Tidal Wave (1995), you might have become the victim of any one of a dozen financial debacles. You might have held junk bonds, which have been collapsing ever since. You might have slaved over a demanding job that paid you in stock options that are now worthless. You might have speculated in Internet stocks, which went bust. If you are a vendor, you might have sold equipment to dot-com companies for an I.O.U. that was never paid. If you live in Argentina, you might have kept your money in a local bank and one day awakened broke. If you worked for Enron, you might have watched every nickel of your retirement savings evaporate. If you own a business, you might have let economists convince you that no recession was possible just before the economy contracted and slammed you up against the wall. Maybe for you, it’s too late.

But for most people, this book has been timely.
It was first completed at the stock market high of March 2002 and is now being republished at another peak in social optimism, with the stock market rallying, the Dow back near 10,000, economists unanimously bullish, and commentators assuring us that another great bull market has just begun. If you think that all is well and your finances are safe, read this book before it’s too late for you.

Editorial Reviews

From the Publisher
"…A must read especially for the discerning investor…" (Malaysian Business, 16 November 2003)

Product Details

ISBN-13:
9780470870907
Publisher:
Wiley
Publication date:
12/02/2003
Edition description:
Expanded and Updated Edition
Pages:
352
Product dimensions:
6.24(w) x 9.23(h) x 0.77(d)

Meet the Author

Robert Prechter is president of Elliott Wave International, which resides at www.elliottwave.com. EWI is a forecasting firm servicing institutional and private investors around the world, providing long-term as well as intraday analysis on stock markets, currencies, interest rates, commodities, and social trends.
Since 1978, Prechter has published thirteen books on the financial markets, which have been translated into as many as a dozen languages. Every month, he writes thoughtful market commentary in The Elliott Wave Theorist. He is currently developing a new website dedicated to the elucidation of what he terms socionomics, a science of social-trend forecasting.
Prechter attended Yale University on a full scholarship and graduated in 1971 with a degree in psychology. He began his career as a Technical Market Specialist with the Merrill Lynch Market Analysis Department in New York City.

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Conquer the Crash: You Can Survive and Prosper in a Deflationary Depression 3.5 out of 5 based on 0 ratings. 11 reviews.
Anonymous More than 1 year ago
The 2nd edition of this book gets a 4.9 out of 5.0 from me. It's not the essence of its candid prediction that has come mostly true, but of explaining the social economic picture that was the root cause of the issue. Preacher did not get the exact time-line precisely correct and I have read numerous reviews criticizing him on this. We bought ourselves an extra 5 years of "Good Times", before what Preacher addressed finally unfolded. If you are interested in learning more about social-economics and how this effects the financial picture today and going forward this is an excellent-book to read. It' honest, candid and has turned out to depict a very accurate picture of what has unfolded thus far, since the first edition was released almost 8 years ago.
Guest More than 1 year ago
Another great book by Prechter. The evidence presented in this book is sound and obviously well researched. For those of you with open minds, I would strongly recommend it. For those of you who cannot accept the truth or reality, there is always the book DOW 40,000. There you can escape into fantasy. The timing of the book is a little late, but let's face up to the facts: Did anyone really want to read this a year or two ago in such a bullish environment? Not likely!! Keep up the great work Robert, one day you will go down in history for your research and the new science of socionomics. I look at the financial world a lot differently now. I have no losses to recover and only sound investments. Thank You for your insights.
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Guest More than 1 year ago
Prophets of doom have always made entertaining reading. In his latest fire-and-brimstone warning, Robert R. Prechter, Jr., an experienced forecaster of long-term economic and social trends, says financial Armageddon is just around the corner. While his technical analysis (¿Wave Theory¿) may appear to be stock-market astrology, readers may appreciate his examination of the basic functions of money and credit, his argument that worldwide central banking has fundamentally altered these functions, and his perceptive comparisons of the late 1990s with the Roaring Twenties. Prechter might have appealed to a broader audience by toning down his graphs and technical talk, and focusing instead on his investment suggestions: If the market turns down, you¿ll save your skin, but even in a bull market, keeping your money safe can¿t hurt. We recommend this book to anyone looking for bear-market investment advice, as well as those interested in technical analysis or an opinionated view of business and market cycles.
Guest More than 1 year ago
Prechter presents a very compelling analysis to support his extremely pessimistic view of the near term future. This book is an important work. Even if his predictions do not materialize, the possibility must be considered. As much I as do not want to believe Prechter, this book gives the reader much to ponder. My relatively conservative approach to the stock market makes me think I have a reasonable amount of protection for my portfolio. But Prechter's expectation that the Dow Jones Industrail Average will plummet to under 1000 puts that belief in jeopardy. Each reader must decide for himself how much protection is required. Read this book, then make your decision. Your financial life may depend on that decision.
Guest More than 1 year ago
This book offers reasons as to why we are heading into a deflationary depression. After reading his explanations, the arguments this book makes seem logical and convincing as similar arguments made by the same author in 1987 and 1995 in the book 'at the crest of the tidal wave'. One of the biggest weaknesses of this book is its timing.The book was published June of 2002 after the markets dropped by up to 70% (as in the Nasdaq) and investors have already suffered heavy losses. This makes me wonder whether the author wanted to avoid being wrong for a third time by waiting two years after the start of the collapse to publish the book.When you are predicting events timing is critical. Even though the authors arguments seem convincing , there are equally legitimate arguments to the fact that the market downturn we are presently in is related to misguided Federal reserve policy. The Fed pumped money into the system between 1998 and late 1999 creating a lending spree by banks to startup businesses and then pulled the plug by increasing rates and starving startup companies for capital. This resulted in slowing orders to other companies and a domino effect. Such an argument does not point into a depression. So which one is true? For me it does not matter. What I am interested in is how to recover my losses in the market. If you have lost 30-70% of your money in the market , would you be willing to liquidate and place your money in your mattress based on a single person predictions that could be wrong as they have been before?. What I am mainly looking for is how to recover my losses over time and learn from my mistakes so as not to have the same thing happen again. I found other books that show you how to deal with recovering your losses and be a smarter investor such as 'Financial freedom through trading' by Van Tharp and 'Generate thousands in cash on your stocks without selling them' by Elias to be much more useful in taking action now to recover losses . This book is an interesting read but I would recommend that you take the gloom and doom predictions with a grain of salt