The Fearful Rise of Markets: A Short View of Global Bubbles and Synchronised Meltdowns

“Concise, relevant, and perceptive…this book should be read by all those interested in the way markets operate, be they investors, analysts, or policy makers."

-From the Foreword by Mohamed A. El-Erian, CEO and co-CIO of PIMCO, and author of When Markets Collide

 

“A must-read for anyone concerned about how we can avoid recurring debt-induced busts in the years ahead, or anyone who wonders how to invest if (when!) the crisis returns. Authers' insights on the global financial crisis are profound."

-Robert D. Arnott, Chairman, Research Affiliates, LLC

 

”In a crowded field of works on the financial crisis, Authers' work is unique in both its insight and style."

-Robert R. Johnson, Ph.D., CFA, Senior Managing Director of the CFA Institute

 

"John Authers has combined his journalistically honed FT skills with great insights. Serious investors and policy makers should read this book.”

-David R. Kotok, Chairman and Chief Investment Officer of Cumberland Advisors

 

"John masterfully drives a stake through the myth of global economic decoupling one chapter and example at a time. A must-read in today's economy."

-Vitaliy Katsenelson, Director of Research at Investment Management Associates, Inc, author of Active Value Investing: Making Money in Range-Bound Markets

 

Award-winning Financial Times journalist John Authers explains the multiple roots of repeated financial crises. He explains why it is that investment bubbles now form all at once, all across the world and why  so many markets that were once considered disconnected are now able to collapse all at the same time. He offers a strategy for preventing future financial disasters.

 

Market bubbles are growing ever bigger, ever more terrifying. As soon as one ends, the next one seems already to be inflating.

 

Multiple markets, once disconnected, are aligning in ways that are increasingly unpredictable and uncontrollable.

 

Something has changed. What can we do about it?

 

The Fearful Rise of Markets explains how the world’s markets became synchronised, how they formed a bubble, how they all managed to crash together and then rebound together, and what can be done to prevent another synchronised bust in future.

 

From post-Depression regulation and the 1954 recovery from the Great Crash, through the innovations and mis-steps that led to the collapse of Lehman Brothers in 2008, to the markets rally of 2009, The Fearful Rise of Markets details massive shifts in the way our money is invested, and in the global balance of economic power.

“This new book is a must-read for every investor....I'd urge anyone with any interest in investing to read it as soon as possible. It may well stop you losing your shirt in the next meltdown!”  Cliff D’Arcy, The Motley Fool

"With two decades of experience in successfully interpreting financial markets, Authers has the curriculum vitae and the confidence to go where no other author has thus far been. His goal in this slender volume is to make understandable why financial markets failed, how investors should protect themselves and what national authorities should do to correct some of the problems. His mission is happily met...Anyone interested in financial markets would benefit from owning a copy."  Financial Times, 5th June 2010

"This book is a must read for investors and for anyone who is interested in the causes of the financial crisis and in how future crises can be avoided. Authers has delivered a highly readable and informative work which goes a long way to explaining the institutionalisation of investment and how the rise and spread of financial markets over the past century have inflated and synchronised bubbles and led to many of the trends which caused the current financial crisis".  Ben Collins, Global Financial Strategy, June 2010

"..helps you better understand how volatility is the central theme of price movement". Larry Connors, an excerpt from his Daily Battle Plan

"Well written in a nontechnical style,The Fearful Rise of Markets includes ample references. Authers divides the narrative into short, highly readable chapters, each containing both an abstract and a summary. The introduction contains a very useful timeline of important events.In short, I would recommend this book to anyone interested in understanding how the financial markets came to play such an important role in our lives."  Brendan O’Connell, CFA

"... does a marvelous job at giving us insight into the challenges facing international markets at the core... As an investment columnist and editor for the Financial Times, Authers has spent the last 20 years covering the industry around the world. One of his greatest skills is to look beyond economics or finance for answers. Instead, Authers examines the behaviors that investors exhibit and the way such behavior has changed everything we know about the market. Fortunately for the reader, Authers takes the extra time to make a discussion of these complex issues readable for the layman. For this reason, the reader is likely to find this work an informed yet accessible look at the challenges facing our markets today. "

Anand Datla, International Affairs Review, January 2012