Investing Through the Looking Glass
A rational guide to irrational financial markets
By Tim Price
Jacket text
The investment markets have never been more dangerous. Interest rates are at all-time lows; the sanctity of cash deposits is under threat; government bonds are expensive and offer ultra-low or negative yields; equity markets are largely detached from reality after years of loose monetary policy. Investors need to calibrate themselves to the realities of this extraordinary new environment so that they can protect their wealth and, ideally, prosper.
In Investing Through the Looking Glass, longstanding portfolio manager and investment columnist Tim Price identifies and shatters a number of investment myths and misconceptions. He questions whether stock markets inevitably rise over the longer term, whether bonds continue to be relevant as a failsafe low-risk asset, whether professional fund managers represent “smart money”, and much more besides.
But this is not just a counsel of despair. Having identified the problems besetting today’s investor, the focus then moves on to practical guidance to help investors preserve and grow their capital in this age of inflationary and deflationary uncertainty. Tim Price provides ideas on how to find attractive investments in distorted equity markets, on what might be the best-kept secret in finance, and how best to insure portfolios in an environment of heightened systemic risk.
Investing Through the Looking Glass presents a route map for navigating one of the most challenging financial environments that anyone has ever seen. For the sake of your wealth, can you afford not to read it?
About the author
Tim Price has worked in the capital markets for 25 years. A graduate of Christ Church, Oxford, he spent a decade as a bond specialist before going on to serve as Chief Investment Officer at three separate wealth management firms.
Tim has been shortlisted for five successive years in the UK Private Asset Managers Awards programme and was a winner in 2005 in the category of Defensive Investing. He is now manager of the VT Price Value Portfolio, a fund investing in Benjamin Graham-style value stocks, and specialist value funds, from around the world. Tim also writes regularly for MoneyWeek magazine and The Spectator.
Follow Tim on Twitter: @timfprice
Reviews
“As always Mr Price writes beautifully and is always provocative and insightful….Although it often feels that as a result of the actions of economic policy makers, and especially central bankers, it is much more difficult for investors to keep heads above water, the reality can be different. Unconstrained by index-based benchmarks private investors are much better placed to grow their wealth, while maintaining its integrity, than their institutional peers. “Investing Through The Looking Glass” shows how this can be achieved.”
“…the book gives a good overview of what’s wrong with the current state of investing, and offers 3 interesting solutions. “
“…most of experienced investors should read this well-written book.”
“Investing Through the Looking Glass, is aimed more at the active private investor, but given value is likely to be the investing watchword of 2017 in equity markets, this book is a good reminder of the fundamentals in a very clearly written style.”
‘This book forms an essential part of the education for any private investor’
“One doesn’t have to agree with Price to appreciate this book. He makes his case in razor-sharp prose.”
“Tim Price is one of the most cogent commentators on markets; this book contains wisdom and ideas that every investor should take note of. Tim has summarised the follies of Central Bankers, the avarice and general uselessness of financial advisers, and the bubble in asset prices that currently prevails. He comes up with a Manifesto which is designed to save us from the disastrous policies of the past two decades and to preserve and enhance capital. I thoroughly recommend Through the Looking Glass.”
“When Tim give speeches – even informal talks – crowds gather around him. Reading, his new book Investing Through the Looking Glass reminds me why. It’s a crisp story of how our Alice in Wonderland financial world actually works… told with wit, style and deep insights. George Soros said that there are some books that can make you a million dollars; this could be one of those books.”
“Almost everything you think you know about finance, investing and money is wrong. In this wise, easy to read, and very independently minded book, Tim Price explains why. You might not agree with everything Tim says. But Through the Looking Glass will certainly make you think – and might make you a lot of money too.”
“Certifiable lunatics run the world’s central banks. And it takes a sane person to tell that truth. Tim Price is very sane.”
Media coverage
From Master Investor:
Book featured at end of article
From Master Investor:
Tim Prices is manager of the VT Price Value Portfolio and author of Investing Through the Looking Glass: A rational guide to irrational financial markets
From FNArena:
Investor attention to the bigger issues in the world can be fickle and, dare I say it, cyclical. Remember the mountains of newsprint dedicated to global debt immediately after the GFC? There’s no denying global debt is much higher today, but anno 2017 there’s seldom an article about it in the media. Equally rare have… Read more »
From Master Investor:
Read to succeed Investing Through the Looking Glass A rational guide to irrational financial markets by Tim Price Book review by Richard Gill “We’re all mad here…” The Cheshire Cat, Alice in Wonderland A Mad T(-Bill) Party The basic premise of Investing Through the Looking Glass is that, following the financial crisis of 2008/09, and… Read more »
From The Wealthnet:
Over the years Tim Price has amused, bemused and enlightened readers of thewealthnet, Money Week and The Spectator with his commentaries on the idiosyncrasies (or should it be idiocies?) of contemporary financial markets. He has also provided signposts for investors intent on preserving and growing their wealth to navigate safely the pitfalls that seem to… Read more »
From Strictly Value:
In this book, Tim Price starts by explaining the problems the investing world faces. The backdrop of these problems is diverse: [Table – removed – see original article] In the second part of the book, Tim Price offers 3 solutions for private investors: value investing, trend-following strategies, and gold. 1. Value investing. The author builds… Read more »
From Seeking Alpha:
If you have 3 or more of the following dozen delusions: 1) Commercial banks are an essential part of the modern economy. Their rescue during the Global Financial Crisis, at extraordinary cost to the taxpayer, was unavoidable. 2) Central banks are required to fight inflation and protect against financial instability. 3) Economists and financial theorists… Read more »
From Trend Following :
Podcast with Michael Covel about the new book
From Investment Week :
Stuck on what to buy the financial services professional in your life for Christmas? How about an investment book? Lawrence Gosling runs through some of the titles that have hit our desks in recent weeks. My current favourite out of the books we received in the office is Paul Mumford’s The Stock Picker, a history… Read more »
Contents
Introduction
Part One: Problems
1. The Banks
2. The Central Banks
3. Economists And Financial Theorists
4. Fund Managers
5. The Bond Market
6. The Stock Market
7. The Financial Media
Part Two: Solutions
8. Value Investing
9. Trend-Following Funds
10. Gold
Conclusion: Safeguarding your financial future
Appendix: The Modern Investor's Manifesto
About the Author
| Published: | 07/11/2016 |
|---|---|
| Edition: | 1st |
| Pages: | 238 |
| Formats: | ebook - ISBN 9780857195371 paperback - ISBN 9780857195364 |
If you’d like to get in touch with the author for interview or comment, or you’d like a review copy of this book, please contact us at pr@harriman-house.com or call +44 (0)1730 233870.
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