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The Ten Trillion Dollar Gamble
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The Ten Trillion Dollar Gamble

The Coming Deficit Debacle and How to Invest Now

Russ Koesterich
McGraw-Hill, 2011

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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

A timely book on personal finance with actionable advice is rare, but investment expert Russ Koesterich delivers specific guidance for investors. He jumps into the current debate on the US budget deficit and suggests ways to prepare your portfolio for an uncertain, “deficit-driven” future. Koesterich details which strategies, asset classes and instruments offer potential safe harbors and good returns amid the grim reality of structural deficit economics. getAbstract finds his discussion of the deficit informative and useful, though at times repetitive, and recommends his book to those who are weighing their options for wise actions in financially challenging times.

Take-Aways

  • Growing US deficits will trigger higher taxes, greater budget cuts, falling entitlement benefits and increased interest rates.
  • In this “deficit-driven” environment, investors will encounter greater stock and bond market volatility, incipient pressure on the US dollar and rising inflation.
  • Profitable investing opportunities will still exist, but not necessarily in the same areas nor with the same techniques people used in the past.

About the Author

Russ Koesterich is chief investment strategist for iShares and global head of investment strategy for BlackRock Scientific Active Equities.

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    E. R. getAbstract 1 decade ago
    One reader (thanks again, Mark) commented that you might ladder bonds (buy shorter and longer-dated issues) if you perhaps weren't going to hold them to final maturity, and that is so. However, you might also ladder as a deliberate strategy to protect your returns on a portfolio of bonds in a rising interest rate environment. The book details that scenario on pp 84-86, for those who want to know more. (E. Rauzin, getAbstract, Managing Editor)
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    E. R. getAbstract 1 decade ago
    Thanks, Mark, for your informed comment. I'm checking it now with the writer and editor and we'll clarify quickly. We appreciate your eagle eye (E. Rauzn, getAbstract, Managing Editor)