PDF The Secrets of Economic Indicators Hidden Clues to Future Economic Trends and Investment Opportunities 3rd Edition Bernard Baumohl 9780132932073 Books

Download As PDF : The Secrets of Economic Indicators Hidden Clues to Future Economic Trends and Investment Opportunities 3rd Edition Bernard Baumohl 9780132932073 Books

For years, investors, business strategists, and policymakers worldwide have turned to one book to help them translate the massive flow of economic data into knowledge for intelligent decision-making. The Wall Street Journal called this book "…the real deal," saying it "miraculously breathes life into economic indicators and statistics." That book is Bernie Baumohl’s classic best-seller The Secrets of Economic Indicators. Now, in a brand-new Third Edition, Baumohl has thoroughly updated his classic to reflect the latest US and foreign economic indicators, and brand-new insights into what all of today’s leading indicators mean. Baumohl introduces dozens of new, forward-looking economic markers, including those that monitor small business plans, freight traffic shifts, web searches, and even gambling. He also presents several real-time foreign indicators for anticipating swings in European and Asian economies. He explains what’s happened to the global and domestic U.S. economy in recent years, showing how financial crises impact investments, strategy, and economic indicators. New graphics more clearly illuminate how key indicators impact interest rates, bond and stock prices, and currency values; and hundreds of websites containing US and global economic indicators have been updated. This classic book has long been considered an invaluable resource by professionals who need to understand the true meaning of the latest economic trends. With this new edition, Bernie Baumohl has made it even more useful.

PDF The Secrets of Economic Indicators Hidden Clues to Future Economic Trends and Investment Opportunities 3rd Edition Bernard Baumohl 9780132932073 Books

"This is an excellent reference that steps you through a long list of economic indicators. It doesn't tell you what to do with the indicators, i.e. what manipulations might be most appropriate (The Economic Indicator Handbook by Yamarone does that) or how to just them wrt tactical investment decisions, but Baumohl provides great insight on the sampling size and methodology used for each indicators (sometimes its a bit in-nerving how small the sample sizes are) as well as a qualitative discussion of what the reaction from the bond, equity and currency markets might be. The book also does a good job of highlighting some of the more useful global economic indicators. I thought so highly of it that after buying the Kindle edition, I also bought a hard copy."

Product details Paperback 496 pages Publisher FT Press; 3 edition (August 3, 2012) Language English ISBN-10 0132932075

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The Secrets of Economic Indicators Hidden Clues to Future Economic Trends and Investment Opportunities 3rd Edition Bernard Baumohl 9780132932073 Books Reviews :

The Secrets of Economic Indicators Hidden Clues to Future Economic Trends and Investment Opportunities 3rd Edition Bernard Baumohl 9780132932073 Books Reviews

• I read this book with the perspective of being in an office that does economic forecasting and pays for compilations of several of the indicators listed. I also have taught and used these indicators in undergraduate economics courses. Baumohl's value added is the research he's done on how each indicator is compiled and how it correlates with other indicators. For example How many firms are surveyed, what questions are on the survey, what is the typical response rate, how does the indicator tend to correlate with future GDP growth (basic rules of thumb), what is the history of the survey, etc.? I've read books like Capital Ideas that give the history of the creation of the Dow, S&P, and other indicators we see on the nightly news, and this book is somewhat similar. If you've never been exposed to reports from the BLS, BEA, etc., this book is a tutorial on what's what.
  
  The major indices are updated daily by Bill McBride at calculatedrisk.com, and he makes handy charts. But he focuses more heavily on real estate and does not cover dozens of indicators included in this book (some for good reason as some have minimal impact).
  
  Here's how I recommend reading it
  Make a spreadsheet with tabs for leading, coincident, and lagging economic indicators (I made an additional one for international). Add indicators to the sheet where appropriate, follow the links (or search to find the correct ones as my version of the book [2008] has several broken links) and start tracking the numbers as they update over time. This gives you a one-page snapshot of the trends of several indicators as opposed to just one at a time, as you generally get with the news.
  
  It's a bit like reading an encyclopedia, but is a reference that should be on the shelf of anyone interested in the economy. 4 stars out of 5.
• The first edition of this book I read was the one published in 2007, which was the second edition. I went from knowing very little, maybe even nothing, about economics to being able to hold my own in conversations with experts on the subject. This book isn't gonna make you an expert economist, but even better, it is really all you need if you are a trader/investor like me who's looking to forecast trends in the economy for the purpose of profiting. When it comes down to it, if you are able to forecast trends in the economy correctly, that's really all that matters. The hell with being able to speak with all the fancy jargon and mathematical economic models taught in academia. Therefore if you're looking for a textbook on economics, you're gonna come away disappointed. However, if you're looking to be able to gauge what is going on economically as a businessperson, you're gonna get exactly what you're looking for. One thing I love about this book is the fact that its written in a very simple and easy to understand format. That's a big thing to me, because I believe that if a person can't break a subject down into simple terms, then they most likely don't understand it well enough to teach it. This third edition, which I completed reading yesterday is just as great as the past edition(s), even greater since it applies to the changed economic environment. To me, there's no better feeling than reading a book such as this, then monitoring the economy and seeing events play out just as the author said that they likely would.
  
  EDIT I'm gonna have to subtract a star from my rating because of a trick pulled by the publisher. I went to Barnes & Noble yesterday and saw this same book there with an additional chapter added which addressed Geopolitical events, a chapter which wasn't in the version being sold here. Supposedly, the one with the extra chapter is a "Special Barnes & Noble Edition." Personally, I don't think that's right. What if WE, those of us who bought it via want the extra chapter? Are we gonna have to buy another book just to get the extra chapter which should have been included in the first place?
• This is an excellent reference that steps you through a long list of economic indicators. It doesn't tell you what to do with the indicators, i.e. what manipulations might be most appropriate (The Economic Indicator Handbook by Yamarone does that) or how to just them wrt tactical investment decisions, but Baumohl provides great insight on the sampling size and methodology used for each indicators (sometimes its a bit in-nerving how small the sample sizes are) as well as a qualitative discussion of what the reaction from the bond, equity and currency markets might be. The book also does a good job of highlighting some of the more useful global economic indicators. I thought so highly of it that after buying the edition, I also bought a hard copy.