The Roaring 2000s: Building The Wealth And Lifestyle You Desire In The Greatest Boom In History
Author: Harry S. Dent
List Price: $14.00
Our Price: Click to see the latest and low price
ISBN: 0684853108
Publisher: Free Press (14 October, 1999)
Sales Rank: 20,720
Average Customer Rating: 3.68 out of 5
Customer Reviews
Rating: 3 out of 5
Something there, but Take with a Grain of Salt
On first blush Harry Dent looks like a genius. After all, years before everyone talked mutual funds and daytrading he predicted a stock market bonanza. What's easy to forget, though, is that in his earlier book (admittedly, I only read one and it was years ago so I'm a little sketchy on the details) there were lots of predictions--such what would happen to Asian economies-- which turned out to be way off the mark. No doubt, there is something to Dent's boomers- leading-the-economic-boom theory, but any theory that simplicistic, is well, overly simplicistic. I, for one, wouldn't throw caution to the wind and take his recommendations blindly. For an excellent book on creating a truly satisfying financial life (both fiscally and emotionally) no matter what happens in the coming millenium, check out my new favorite recommendation: The Mindful Money Guide. It succicntly, but comprehensively covers a wide range of money issues; The author isn't afraid to take a stand. Don't let the serious-sounding title scare you, it's entertaining.
Rating: 4 out of 5
Look beyond this year and this still makes a lot of sense
It may seem odd, even perverse to give a positive review to a ragingly optimistic book at the current time (the start of the second half of 2001). Originally published in 1998, Dent's relentlessly optimistic book will turn off some sober readers by his somewhat breezy style and dramatic and sweeping claims. Yet, much of the foundation of this book's case for a prolonged economic boom lasting until 2009 in the U.S. (and later in some European countries) lies in respected academic work such as the books Generations, and The Fourth Turning. Dent's message boils down to an argument that predictable generational spending waves coming with a combination of generational innovation and implementation will combine with a range of information technologies and biotechnologies to propel a sustained boom. The current downturn does not refute his thesis, unless it becomes protracted.
The Roaring 2000s is aimed at a general readership, including anyone wanting to understand the major changes ahead and how to take advantage of them. Dent makes some dubious assertions, perhaps over-applying his driving forces, so the book needs to be read with a critical eye. Still, the major forces behind his claims seem to be real and compelling. Business strategists who skim this book may find that it makes sense of the current turbulence and helps them plan for the decade ahead. At the very least, Dent's irrepressible optimism can only do you good in today's gloomy business conditions.
Rating: 1 out of 5
This time around Dent's predictions are completely wrong.
Harry Dent poses as an economist but he is not. He also poses as a demographer but he is not either. As a consequence, he develops sweeping broadbased theories without solid scientific foundation. His main theme is that the large Baby Boom generation is going through its peak spending years during this decade, and as a result it will sustain an economic and stock market boom until 2009. He concludes that it is almost certain that the stock market will earn 10% and above returns throughout this decade. However, when you look at the record so far, Harry Dent's prediction in 1999 for the first decade of 2000's is way off. The ink was barely dry on his book when the stock market actually peaked (first quarter of 2000) and then tanked. The stock market then suffered a three year bear market. Current outlook for the stock market is for increased volatility, but reduced growth in the single digit range (not the double digit range, Dent predicted).
Dent missed a lot of things. Some of them he could not have predicted such as heightened geopolitical risk, terrorism. Some other factors, he should have predicted. These included the overvaluation of stocks as a result of the Internet Bubble, the onset of World deflation associated with the flooding of cheap exports from China, the eventual slow down of the U.S. economy among others.
Dent also pauses as a futurist. In this role, he just repeats what Alvin Toffler stated in Future Shock almost 30 years ago. Technology will reform the workplace, will boost economic productivity, etc... Nothing new or informative here.
The only somewhat valuable part of this book includes several recommendations for successful investing, including:
1) Save at least 10% of your salary;
2) Use buy and hold strategies, don't try to time the market;
3) Use mutual funds to most efficiently diversify your holdings;
4) Use asset allocation. The greatest returns result from the correct asset allocation. Asset allocation should match your personal risk tolerance; and
5) Invest systematically not emotionally.
However, the author did not support these good investment strategies with adequate useful details. For instance, using a 401K is the best and easiest way to implement all of his five strategies mentioned above. Also, within his mutual fund recommendation, he did not mention the advantages of index funds (greater diversification, lower cost). Thus, he omitted much information for this section of the book to be as informative as it could have.
Similar Products
The Roaring 2000's Investor: Strategies for the Life Your Want
The Roaring 2000s Investor: Strategies for the Life You Want
The Greatest Bull Market in History: 2003-2008: Investment, Business and Life Strategies - For the Great Boom Ahead and the Great Bust to Follow
Great Boom Ahead:Your Gde to Personal & Business Profit in the New Era of Prosperity
The Roaring 2000s Wealth Builder
Book Index