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When Markets Collide by Mohamed El-Erian
When Markets Collide by Mohamed El-Erian
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When Markets Collide: Investment Strategies for the Age of Global Economic Change
by Mohamed El-Erian
Investment Strategies for the Age of Global Economic Change
🌐 NAVIGATING THE NEW GLOBAL ARCHITECTURE
A prescient diagnosis of a global financial system in transition. Winner of the Financial Times and Goldman Sachs Business Book of the Year Award, this strategic guide explores the structural realignments of power, capital, and risk.
Extended Synopsis
In When Markets Collide, Mohamed El-Erian provides a masterful diagnosis of a global financial system undergoing a profound, structural metamorphosis. Written on the precipice of the 2008 crisis, El-Erian’s work remains eerily relevant, arguing that the world economy is experiencing a fundamental realignment rather than a simple cyclical shift. He contends that the old "anchors" of the financial world—predictable liquidity, stable historical correlations, and U.S. economic dominance—are loosening, replaced by a more diffuse and interconnected landscape.
El-Erian explores the rise of emerging markets as primary engines of growth, the massive accumulation of foreign reserves, and the emergence of sovereign wealth funds as pivotal market players. He critiques the "herd behavior" of institutional investors who rely on backward-looking risk models and U.S.-centric assumptions. By examining the collision of overlapping market forces, El-Erian offers a forward-looking mindset for portfolio construction, advocating for true diversification across economic regimes, the adoption of alternative assets (such as private equity and infrastructure), and the treatment of tail risks and liquidity traps as central features of modern investment management.
Author Biography
Mohamed El-Erian is one of the world's most influential economists and investment strategists. Formerly the CEO and co-Chief Investment Officer of PIMCO and the President of Harvard Management Company (HMC), he has managed some of the world's largest and most sophisticated pools of capital. He holds a DPhil from Oxford University and has served in senior roles at the International Monetary Fund (IMF), consistently providing expert commentary on global capital flows and systemic vulnerabilities.
Reader Targeting
- Finance & Investment Professionals: Portfolio managers and institutional investors looking to move beyond traditional asset allocation models toward a hybrid, globalized approach.
- Global Economics Students: Academics researching the shift from G7 dominance to the rise of emerging market influence and sovereign wealth funds.
- Risk Management Specialists: Those seeking to understand "bumpy journeys," correlation breakdowns, and the blurring lines between geopolitics and financial markets.
Common Terms & Core Concepts
Actively Managed, Alpha vs. Beta Exposures, Asset Allocation, Behavioral Finance, CalPERS, Currency Overlay, Emerging Market Bonds, Fundamental Indexing, Global Fixed-Income, Risk Premium, Secular Themes, and Volatility Management.
Accolades & Achievements
- Named Financial Times and Goldman Sachs Business Book of the Year.
- Recognized in the Top 50 Books on Global Economics and Top 100 Books on Finance.
- A New York Times and Wall Street Journal Bestseller.
Product Specifications
| ISBN-13: | 9780071592819 |
| ISBN-10: | 0071592814 |
| Publisher: | McGraw Hill |
| Binding: | Hardcover |
| Edition: | First Edition |
| Publication Date: | 2008-06-13 |
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