The Greenspan Effect: Words That Move the World's Markets - Softcover

Sicilia, David B.; Cruikshank, Jeffrey L.

Softcover

ISBN 10: 0071382526 ISBN 13: 9780071382526

Publisher: McGraw-Hill, 2001

Synopsis

"[David Sicilia and Jeffrey Cruikshank] have done their homework on this fascinating economist. Greenspan's career is spelled out to readers in this informative and interesting read."­­San Diego Union Tribune Selected by Library Journal as a Best Business Book of the Year With one key phrase or comment, Federal Reserve chairman Alan Greenspan can send global financial markets tumbling­­ or soaring! The Greenspan Effect provides an up-close examination of Greenspan's tumultuous regime, suggesting to investors what pronouncements to expect­­ and what they will mean­­during the remainder of his remarkable term in office.This in-depth analysis of the words of Alan Greenspan includes highlights of his most influential speeches and demonstrates his uncanny, far-reaching power to impact markets on a global scale. In addition, it explains how to separate rhetoric from meaningful signals and anticipates the impact Greenspan is likely to have on future global markets. The Greenspan Effect focuses on one powerful and brilliant man, his words and actions, and how investors can profit from this new knowledge.

About this title

Review:

The son of a stockbroker and himself a one-time swing-band musician, Federal Reserve chairman Alan Greenspan has incontrovertibly turned his formerly anonymous presidential appointment into the single most dominant financial position on earth. Whenever he prepares to speak, fiscal agents around the world hold their collective breaths--and then react emphatically to his words, often even before he finishes saying them.

But exactly what does he say that so affects money management? And precisely why does he say it? David Sicilia and Jeffrey Cruikshank, consultants and previous collaborators, do a formidable job of answering both questions by analyzing the chairman's own statements in The Greenspan Effect. The result is an insightful point-by-point assessment of the man and his enormous influence. From critical utterances like those in his famous "irrational exuberance" speech (which sank the markets after he delivered it in 1996) to uplifting phrases such as "oasis of prosperity" (which boosted them when he used it in 1998), they're all examined according to the way they affect and are affected by interest rates, inflation, labor, banking, global economies, and other factors. Perhaps most useful is the penultimate chapter, which offers 16 principles of Greenspanology, such as "It's always about interest rates" even though he "hardly ever talks about interest rates," designed to guide those who "navigate the often troubled waters onto which Greenspan pours his rhetorical oils, or into which he introduces new turbulence." --Howard Rothman

From the Back Cover:

A Library Journal Best Business Book of the Year!

The First Unvarnished Analysis of Alan Greenspan­­and the True Meaning Behind His Words

United States Federal Reserve chairman Alan Greenspan can send global financial markets crashing with a comment, or build fortunes just as quickly. But who exactly is Alan Greenspan? The Greenspan Effect is the first comprehensive analysis of Greenspan's writings and speeches throughout his tumultuous regime. It equips investors and businesspeople with an insightful analysis of how Greenspan has responded in past economic environments, what he is likely to do in the future­­and how financial markets will react.

Praise for The Greenspan Effect:

"Studying the observations of Chairman Alan is a good way to get a reflective and thoughtful view of the economy and the challenges confronting the Federal Reserve."
­­The New York Times Book Review

"In post-Cold War America and the world, Greenspan's utterances have an obvious impact, but never before have they been so exhaustively scrutinized."
­­Booklist

"How Greenspan made the Fed chairmanship such a pinnacle of power and how he influences world markets are explored in this book by David Sicilia and Jeffrey Cruikshank. They have done their homework on this fascinating economist, producing a lively read..."
­­San Diego Union Tribune

"A work that not only gives investors tips on how to grasp the essence of Greenspan's messages, but also presents some fascinating insights into the little-understood ... thought processes of the always-measured U.S. central banker."
­­The Baltimore Sun

About this edition

• Publisher: McGraw-Hill
• Publication date: 2001
• ISBN 10: 0071382526
• ISBN 13: 9780071382526
• Binding: Paperback
• Edition number: 2
• Number of pages: 328