Wealth, War and Wisdom

An intriguing look at how past market wisdom can help you survive and thrive during uncertain times In Wealth, War & Wisdom, legendary Wall Street investor Barton Biggs reveals how the turning points of World War II intersected with market performance, and shows how these lessons can help the twenty-first-century investor comprehend our own perilous times as well as choose the best strategies for the modern market economy. Through these pages, Biggs skillfully discusses the performance of equities in both victorious and defeated countries, examines how individuals preserved their wealth despite the ongoing battles, and explores whether or not public equities were able to increase in value and serve as a wealth preserver. Biggs also looks at how other assets, including real estate and gold, fared during this dynamic and devastating period, and offers valuable insights on preserving one's wealth for future generations. With clear, concise prose, Biggs Reveals how the investment insights of truly trying times can be profitably applied to modern day investment endeavors Follows the performance of global markets against the backdrop of World War II Offers many relevant lessons-about life, politics, financial markets, wealth, and survival-that can help you thrive in the face of adversity Wealth, War & Wisdom contains essential insights that will help you navigate modern financial markets during the uncertain times that will increasingly define this new century.

Table of Contents:
Foreword v Introduction 1 Chapter 1 Listen to the Market Crowd 7 Chapter 2 A World Darkened by Fear: An Overview of Soviet, German, and Japanese Aggression from 1929–1945 19 Chapter 3 Stock Markets Struggle: From the Great Depression to the Start of WWII 35 Chapter 4 “1940: The Most Splendid, Most Deadly Year”: The Time of England’s Greatest Peril 55 Chapter 5 Besieged and Alone: England in 1941 91 Chapter 6 Operation Barbarossa: Germany Attacks Russia 109 Chapter 7 Miracles at the Coral Sea and Midway: Japan and America 131 Chapter 8 Stock Markets Understood: Nobody Else Did 153 Chapter 9 The Four Horsemen of the Apocalypse Ride Again 173 Chapter 10 France Declines Financially, Economically, and Socially 187 Chapter 11 Gone with the Wind: Preserving Wealth in Italy and Germany 203 Chapter 12 Stalingrad: The Battle of the Century 231 Chapter 13 Defeats and Then Victories in Asia and North Africa 251 Chapter 14 The Test in Korea: The Last Battle of WWII 275 Chapter 15 Preserving Wealth in a Time of Cholera 303 Chapter 16 Barbarians at the Gate 321 Notes 335 Bibliography 347 Index 353

About the Author :
BARTON BIGGS spent thirty years at Morgan Stanley. In that time, he formed the firm's number one–ranked research department, was chairman of the investment management firm, and then became the firm's leading global strategist. He was often ranked as the number-one U.S. investment strategist by the Institutional Investor magazine poll and then, from 1996 to 2003, as the top global strategist. In 2003, Biggs left Morgan Stanley and, with two other colleagues, formed Traxis Partners. Traxis now has well over a billion dollars under its management. Biggs's previous book, Hedgehogging, is an international success.