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survival investing
Copyright © John R. Talbott, 2012.
All rights reserved.
Where this book is distributed in the UK, Europe and the rest of
the world, this is by Palgrave Macmillan, a division of Macmillan
Publishers Limited, registered in England, company number
785998, of Houndmills, Basingstoke, Hampshire RG21 6XS.
ISBN 978-0-230-34122-7
10 9 8 7 6 5 4 3 2 1
Preface v
Introduction 1
1 A Day at the Races 9
2 Corruption in the Banks 21
3 The United States Stumbles and Falls 45
4 The Entire World Faces Default 59
5 No Reform Coming 73
6 The Low-Wage Threat of China and India 87
7 Why Economists Don’t Get It 99
8 Why Markets Don’t Behave the Way They
Are Supposed To 111
9 Why Stocks, Bonds, and Money Markets
Won’t Cut It 129
10 Only an Idiot Would Lend to
a Sovereign Government 145
11 Why Diversification Won’t Help 155
12 Real Assets–Real Returns 167
13 Gold as a Yardstick and as an Investment 189
14 A Brave New World 211
Index 229
About the Author 241
iii
Introduction
W
hen I am not writing books, I advise indi-
viduals and families about their financial
decisions and asset allocation. You can
see the business at my website, www.stopthelying.com. I try
to keep my monthly fees reasonable because I want to attract
mostly middle-income people who historically have not re-
ceived high-quality investment advice from Wall Street.
My greatest selling point is that my advice is unbiased.
When I tell people how they might want to allocate their as-
sets or whether it is the right time to buy a house, they can rest
assured that I have only their interests at heart. Unlike tradi-
tional brokers, who might be unloading their firm’s inventory
of worthless securities, I have no dog in the hunt.
I have learned a tremendous amount from my relation-
ships with my clients. I have come to appreciate the difficult
position many Americans find themselves in today. This book
is a direct result of those lessons.
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Survival Investing
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