Conquer the Crash
Read the 2nd Edition of the Bestseller that Forecast the Meltdown
October 13, 2009
Mark Hulbert's Sept. 11, 2009, column for MarketWatch.com says, Robert Prechter "came the closest … to forecasting what was about to take place." One thing the noted financial columnist left out was that many of Prechter's forecasts still lie in the future. The long-awaited second edition of Prechter's bestseller, Conquer the Crash, is finally here! Prudent investors should read his prescient insights, what he believes is still ahead and what you can do to protect your wealth today. Visit Elliott Wave International to order Conquer the Crash 2.
Today's financial and economic tribulations were a long time in the making. Many people ask, "Why didn't someone see it coming?"
But a New York Times bestselling book did see it coming. More than 100,000 people read it in time to protect their wealth.
They read this about real estate:
- What screams 'bubble' – giant, historic bubble – in real estate today is the system-wide extension of massive amounts of credit to finance property purchases.... Many people have been rushing to borrow the last pennies possible on their homes. They have been taking out home equity loans so they can buy stocks and TVs and cars and whatever else their hearts desire at the moment. This widespread practice is brewing a terrible disaster.
And this about stocks:
- ...the number one precaution to take at the start of a deflationary crash is to make sure that your investment capital is not invested in stocks, stock mutual funds, stock index futures or any other equity-based investment.
About Fannie Mae and Freddie Mac:
- Investors in these companies’ stocks and bonds will be just as surprised when [Fannie and Freddie's] stock prices and bond ratings collapse. Most rating services will not see it coming.
About junk bonds:
- Don't think you will be safe buying bonds rated BBB or above. If you have invested in municipal bonds, consumer debt, real estate debt, junk bonds or anything other than top-grade paper, sell it at today’s lofty prices.
All these observations are from Robert Prechter's Conquer the Crash, first published in early 2002, when the Dow was above 10,000 and the financial world was partying around-the-clock. Fast forward to today: The average U.S. homeowner has suffered a decline of 30% to 40% in property value. Stocks and commodities had their biggest fall since 1929-1932. Fannie Mae is a zombie corporation under the government’s protection.
If Prechter thought a whole new book would help, he'd have written one. But Conquer the Crash is a book-length forecast that's still coming true-- only some of the future has caught up with the specific predictions he published back then. There is much more to come. And that means more danger but also great opportunity.
The same authorities who said "the worst can't happen" now claim that "the worst is over." That's one of the many reasons why Prechter is choosing now to put out a second edition of Conquer the Crash.
Conquer the Crash, Second Edition, offers you 188 new pages (480 pages total) expanding Prechter’s unique deflationary argument and escorting the reader through the stock market’s manic climb to the 2007 peak. (If you think you remember this period, wait till you read Prechter’s description.) And it still includes all the original forecasts and recommendations that make the book as compelling and as relevant as the day it was published.
In every disaster, only very few people prepare themselves beforehand. Think about investor enthusiasm in 2005-2008, and you'll realize it's true. Even fewer people will be ready for the soon-approaching, next leg down of the unfolding depression.
Prechter warns that the doors to financial safety are closing all over the world. Prudent people need to act while they still can.
We couldn't agree more. This book is a must-read. Visit Elliott Wave International to order.
About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private around the world.
Bob Prechter's "Conquer The Crash": Eight Chapters For Free
February 11, 2010
By Nico Isaac
When EWI President Robert Prechter sat down to write the first edition of "Conquer The Crash" in 2002, the idea that the United States would enter a period of what news authorities coined "economic Armageddon" several years later was unheard of.
Flashing back, the major blue-chip averages were rebounding off a historic bottom, the notorious dot.com bust was making way for a powerful housing boom, Fannie Mae’s chief executive was named “the most confident CEO in America,” then President George Bush was enjoying a 60%-plus approval rating, Gulf War II hadn’t begun yet, and when it did, a “quick and easy victory” was supposed to follow, and the Federal Reserve was largely credited with slaying the big, bad bear via the sharp blade of monetary policy.
Five years later, the tables turned. The U.S. housing market endured its worst downturn since the Great Depression; Fannie Mae’s CEO was ousted amidst a mortgage crisis of incalculable damage. George W. Bush left the oval office with a record low approval rating of 25%, and the expected “cakewalk” victory in Iraq became a “quagmire” and national dilemma.
Anticipating these and other “shocks” to the global system is the unparalleled achievement of “Conquer The Crash.” Here, the following excerpts from the book put any doubt to rest:
- Housing: “What screams bubble – giant historic bubble – in real estate is the system-wide extension of massive amount of credit.” And “Home equity loans are brewing a terrible disaster.”
- Bonds: “The unprecedented mass of vulnerable bonds extant today is on the verge of a waterfall of downgrading.”
- Fannie Mae & Freddie Mac: “Investors in these companies’ stocks and bonds will be just as surprised when the stock prices and bond ratings collapse.”
- Politics: “Look for nations and states to split and shrink.” And -- “The Middle East should be a complete disaster.”
- Credit Expansion Schemes “have always ended in a bust.” And -- “Like the discomfort of drug addiction withdrawal, the discomfort of credit addiction withdrawal cannot be avoided.”
- Banks: “Banks are not just lent to the hilt, they’re past it. In a fearful market, liquidity even on these so called ‘securities’ [corporate, municipal, and mortgage-backed bonds] will dry up.” (176)
If the tools in Bob Prechter’s analytical toolbox, namely Elliott wave analysis and socionomics (Prechter's new science of social prediction based on the Wave Principle), enabled him to foresee these “sea changes” in the economic, social, and political landscape -- the only question is: What else do the pages of the “Conquer The Crash” reveal?
Well, your opportunity to find out just got a whole lot easier. Right now, you can download the 8-chapter Conquer the Crash Collection, free. It includes:
Chapter 10: Money, Credit And The Federal Reserve Banking System
Chapter 13: Can The Fed Stop Deflation?
Chapter 23: What To do With Your Pension Plan
Chapter 28: How To Identify A Safe Haven
Chapter 29: Calling In Loans & Paying Off Debt
Chapter 30: What You Should Do If You Run A Business
Chapter 32: Should You Rely On The Government To Protect You?
Chapter 33: Short List of Imperative 'Do's' & 'Don'ts"
Visit Elliott Wave International to learn more about the free Conquer the Crash Collection.
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