Cuando los mercados chocan
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Cuando los mercados chocan

3.47 of 5 stars 3.47  ·  rating details  ·  306 ratings  ·  34 reviews
Cuando los mercados chocan es una oportuna voz de alerta ante los cambios fundamentales que están ocurriendo en los sistemas económicos y financieros globales, además de un llamado a la acción para inversionistas que pueden ser víctimas de la interpretación errada de importantes indicios. Aunque algunos se han inclinado a ver las erróneas apreciaciones sobre ciertas clases...more
317 pages
Published March 12th 2009 by Norma (first published 2008)
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Rahul
Mohamed El-Erian has attempted to put together his vast knowledge of the global economy and markets into this relatively light and easy to read guide for investors and scholars alike. His insights into the changing nature of the global economy make this a must read for those who are interested in international finance and global economics, but may have not kept up with some of the more nuanced news in the past few years. While most of the knowledge in the book can be gleaned from careful reading...more
Wael Alghamdi
For ordinary people who wish to understand the global financial crisis that hit the world in 2008
Jeffrey
El-Erian's book is a good overall read and is recommended. However, those looking for all the answers to be laid out are bound to be disappointed. Nevertheless El-Erian excels in laying out the key thematic moves and guideposts for investors to look for - but leaves the reader to do much hard work. But as recently pointed out: “Nothing in life that’s worth anything is easy.” (Sergeant First Class Cory Remsburg)

The first half of the book starts strongly. In particular, El-Erian excels at outlinin...more
Alessandro Gazoia
Non ho mai trovato una copia di Das Finanzkapital (Il Capitale finanziario) di Hilferding e sono dovuto ricorrere a umili "voci di garzantina" per quel classico. Ho avuto maggior fortuna con questo libro di El-Erian che mi pare ne rappresenti la perfetta attualizzazione, esattamente un secolo dopo.
Piuttosto particolare e felicemente dissonante è la struttura del libro, con parti acutissime di analisi geo-politico-finanziaria e parti efficacissime di consigli per gli acquisti, generosamente (in s...more
John
Written a good year ahead of the financial crash, this investment guide is spot on. There are two modest criticisms which are barely worth mentioning. The book came out ahead of the crash so some parts may need to be updated or amended (like recommending bond investors check values against a Lehman Index). Secondly, there is some modest horn tooting -- El-Erian did acquit himself at the IMF, PIMCO and the Harvard Endowment Fund before he was lured back to PIMCO -- but he deserves all the accolad...more
Hundeschlitten
El-Erian is probably one of the smartest 100 guys in the investing world and, while that world has changed alot in the months since this was first published, he is prescient about alot of what has happened since then, and there are many insights buried within this tome. Unfortunately, El-Erian's writing style, like much financial writing, is dull, bordering on unreadable, complicated by his unfortunate tendency to want to kiss the rear end of every major figure in the financial world, like El-Er...more
James Phillips
Overall a good book from Mohammed, bit repetitive but underlying themes right
Joel
Quite good. El-Erian is the head of PIMCO and the equal of one of the greatest money men to ever live - bond king Bill Gross. He has an interesting discussion of the old paradigm of US-centric markets and the emergence of a multi-polar world, along with a neat emphasis on the importance of policy makers considering moral hazard. I was a bit suspicious of his enthusiastic description of many emerging markets (China is definitely not as transparent and easy as he makes it sound). Interesting point...more
Luc
Dr. Mohamed El-Erian main argument is that the International Financial System is progressing towards new territories and that market participants, including policy makers as well as investors, must plan for a long journey towards a destination that is not yet well define.

As explained in his acknowledgements, the author took his ideas largely from his extensive professional activities, personal discussions and his academic life. This gives this book a depth that help us navigate through the subje...more
Rob
This is one of the better investment books I've read in a long time, but don't expect explicit directions about where to put your money. El Arian is great communicator of big picture themes, and this book shares his thoughts on where the world economy is heading over a multi-decade time period. Breezy at times, and not necessarily anything that someone who reads the business section everyday wouldn't know, but he does a great job of using everyday analogies to convey his message.
Akshay
More interconnectedness of markets - Emerging markets outside of the US are becoming a bigger and bigger part of global markets (SWF and emerging market growth)

Importance of risk management and mitigation - Tail risk is avoided by investors because of the prinicpal / agent problem of "negative carry" for insurance

Portfolio Manager pschology cycle - arete (excellence) --> hubris (excessive pride) --> ate (blind recklessness) --> nemesis (retributive justice)
Aaron
Mohamed El-Erian has had a fascinating and varied career in finance, working for the IMF, a big Wall Street firm, Harvard's endowment and the biggest bond fund manager in the world, PIMCO. But his book is just boring, boring, boring. Other savvy and sophisticated investors like Yale endowment chief David Swanson have written much more useful and accessible books for investors. El-Erian is too caught up with jargon and generalities. I had expected more. Oh well.
Vandita
Pimco's Mohammed El-Erian's book on why we need a 'new normal' because of major changes happening in financial landscape and the (in-)ability of the players to cope with and factor in these changes in their decisions...a little technical, insights which no one will disagree with but written in a boring way. As far as the style of writing an engaging book is concerned, Mr El Erian has a long way to go!
anwar
قرأت النسخة العربية من الكتاب
الكتاب رائع و يضم معلومات و تحليلات للتغيرات الحاصلة في الاقتصاد العالمي
الكاتب يبشر بمسار جديد للاقتصاد العالمي و يتعرض بالتفصيل لمسار الرحلة حسب رؤيته و المعوقات التي قد تكتنف الرحلة و الضغوطات التي ستلقي بثقلها على البنى التحتيه و النظم السائدة والكيفية التي يجب على الحكومات التعامل مع المسار الجديد
كتاب يستحق القراءه لكل مهتم بالاقتصاد
Christian
I had high expectations for this book - El Erian is an investment genius - but I have to admit, I found it disappointing. He takes a long, hard look at market structure, and while these insights are both original and important, they don't really apply to the little guy's portfolio. As is usual for these sorts of books, the title promises more bang than the book delivers.
John Hibbs
Good book that provides excellent analysis of seeds of current economic crisis. Other parts of book I did not find so interesting.
This is not for the faint of heart. If you don't have a basic understanding of credit markets, economics and financial derivatives don't bother. Start reading the Finance and Economics section of the Economist instead.


Robert
I have known of this book for a while. I then heard it panned by KSL 102.7. I got a chuckle that they would review this book (same reviewer for the vampire series etc). I thought the book made some great points and arguments, but it did not have some of the structure and formality I was expecting. A lot of typos.
Bev
A little over my head so I had to go through the book slowly- but stretching is always healthy. However I am sure that for people who work in the investment field it will not be too difficult.

I loved the listening for signals in the noise advice!
Maura
I found it interesting on a macro economics level. Found the information on global capital flows really interesting and useful in terms of thinking about where we are going next. This is not a book to help you invest your portfolio.
Karin
Someone bought this for me. I read over half and then just couldn't do it anymore. The whole thing was lost on me. I had no idea what the point was and I couldn't shake the feeling my time would be better spent on a something else.
Valentin
This book is written one year before the financial meltdown. Mohamed El-Erian is using an eclectic approach to explain why markets collide. Good analysis, brilliant language, one of the best that I've read ever.
C.J.
A good read for those wanting some insight into what to expect in the coming years; however, many of Mr. El-Erian's points were vague. The book could have been condensed and filled with more solid writing.
Brian G. Murphy
A guide to navigating the ever more important (and dangerous) global macro environment. Prior to reading, I regarded Bill Gross to be Pimco’s top investor. El-Erian is equally impressive, if not more.
Rebecca
basically....invest in emerging markets? feels accessible while reading, then realized i retained very little. would go back to eventually, is interesting and well presented, but not right for right now!
David
Only read if you don't mind a ton of financial jargon thrown in. It can be a difficult read, but the insights are fantastic on the global economy.
Rick
tough read but amazing foresight into the financial mess we're experiencing considering it was written in 2007
Michel
The international investment world has changed since we were in B School! Get with it and read this book.
David
Terrible book and too biased on the role of glorifying IMF....ignoring bankers' greed from the start...
Tom
An excellent, well-written, readable (good for an economist :-)) recap of where we're going.
Durk Van der zee
Extends beyond 2008, still current (at least first half of the book) and insightful
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Dr. Mohamed A. El-Erian is the CEO and co-CIO of PIMCO, a global investment management firm and one of the world’s largest bond investors with approximately US$1.2 trillion of assets under management at the end of 2010.

In his capacity as CEO, El-Erian is responsible for setting the strategic direction of the firm and leading its operations globally. As co-CIO, and together with PIMCO co-founder Bi...more
More about Mohamed El-Erian...
When Markets Collide, Conclusion When Markets Collide, Chapter 8 - Improved Risk Management When Markets Collide, Chapter 7: An Action Plan for National Policy Makers and Global Institutions When Markets Collide, Chapter 4 - Understanding the New Destination When Markets Collide, Chapter 5 - Prospects for the Journey

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