The Agile Investor: Profiting from the End of Buy and Hold

Predicts future inflationary trends while explaining the reasons behind the market's dangerous volatility, detailing an investment strategy for surviving and profiting

Warning, dark times lie ahead!?at least according to Leeb (Market Timing for the Nineties, LJ 6/1/93), a frequent guest on numerous TV investment programs. His purpose in writing this book is to help investors deal with what he predicts will be a stagnant stock market. The author argues that in the next ten years the incredible bull market of the 1980s and 1990s will end and the country will experience great inflation, including $5-a-gallon gasoline and mortgage rates in the high teens. Leeb cites lack of economic growth, a continued threat from foreign competition, a crisis in the American education system, and huge amounts of debt as reasons why. He claims that the days of buying a stock and holding it are over, because a volatile market will require investors to use market timing to buy and sell stocks at precisely the right moment. Leeb offers a well-written, easy-to-understand text with a premise that lay investors should heed.?Joel Jones, Kansas City P.L., Mo.
Copyright 1997 Reed Business Information, Inc.

A Wall Street guru acclaimed for his ability to understand market timing, Leeb explains why he sees inflation growing rapidly in the next 10 to 15 years in markets that he forecasts to be dangerously volatile. He then details his innovative investment strategy for supervising and profiting from these fluctuations. The authors tell us that inflation will be the logical result of three factors: discontent from the growing American underclass whose living standards continue to fall owing to foreign competition, downsizing, and lack of educational opportunities; increasing prices of basic commodities fueled by explosive demand from developing countries; and huge monetary and debt overhang, which will be soaked up by rising inflation. For an inflation environment, Leeb and Conrad offer a strategy for investments that is headed by bonds with the highest credit rating. Other items in their "inflation portfolio" focus upon commodities, small U.S. stocks, emerging Asian stock markets, energy, precious metals, and real estate. Mary Whaley