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How to Listen When Markets Speak

By: Lawrence G. McDonald, James Patrick Robinson
Narrated by: James Patrick Robinson
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Publisher's summary

A New York Times bestselling author and leading expert on market risk argues that seismic shifts in the global economy will trigger a multi-trillion-dollar migration of wealth, outlining new rules of investing for the forward-thinking.

“I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.”—Mark Cuban

From Wall Street to the White House, the fantasy of an eventual “return to normal” is still alive and well, nurtured by dangerously outdated theories. But the economic world as we know it—and the rules that govern it—are over. In the coming decade, we’ll witness sustained inflation, a series of sovereign and corporate debt crises, and a thundering of capital out of financial assets into hard assets.

Few are prepared.

Lawrence G. McDonald, founder of the economic research platform The Bear Traps Report, got a real-world education in market risk when, as a Lehman Brothers VP, he watched the firm ignore flashing warning signs before its collapse. His analysis led him to identify twenty-one indicators for gauging the health of an economy and detecting early signals of opportunity and danger.

In How to Listen When Markets Speak, McDonald unveils his unique predictive models, connecting surprising dots between past, present, and future and outlining actionable trading ideas for staying a beat ahead of the markets. Listeners will learn:

• How disastrous Fed policy will collide with an increasingly fragmented geopolitical landscape to keep U.S. inflation near 3-5% for the next decade

• How growing demand for oil and gas, underinvestment in urgently needed energy infrastructure, and cozy Russia-Saudi Arabia relations will lift the base price of energy to historic levels

• Why hard assets and rare minerals like lithium and cobalt will outperform growth stocks, U.S. treasuries, and overcrowded passive investment strategies—how to detect bearish and bullish trends in advance

• How passive investing and the vehicles intended to democratize finance have fueled bubbles and ideological skew by large market participants, leaving millions of 401(k)s and IRAs at risk

• Why America will likely lose its position as a global superpower and holder of the world’s premier reserve currency, and may be forced to slash Social Security, Medicare, and military spending

Rather than merely doomsaying, How to Listen When Markets Speak equips listeners to make sense of our current moment, resist reactionary narratives and baseless analysis, and preserve their wealth in turbulent times. When markets speak, it pays to listen.

*Includes a downloadable PDF of charts and graphs from the book

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.

©2024 Lawrence McDonald and James Robinson (P)2024 Random House Audio
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Critic reviews

“I can’t tell you how much I learned from How to Listen When Markets Speak. The historical perspectives and insights are something every investor needs to know. Buy this book.”—Mark Cuban, founder of Cost Plus Drugs and longtime Shark Tank investor

“Larry McDonald’s deep knowledge, experience, and insights have been invaluable in shaping my investment strategies, and How to Listen When Markets Speak is no different. It will sit on the edge of my desk, ready to refer back to frequently. I highly recommend it to anyone keen to protect their wealth in tumultuous times.”—Raoul Pal, CEO and co-founder of Real Vision

“As a journalist who is paid to be skeptical, I have been tracking Larry McDonald’s views on markets for many years. His provocative, passionate, and sometimes prophetic insights are always worth pondering, even (or especially) when you disagree—and reading his analysis has often helped me to see the situation more clearly. I don’t always sit in the same camp, but I appreciate his consistent focus on value investing. His latest book offers strong riposte to the tech hype, bull-market euphoria, and wishful thinking about a soft landing—it is thought-provoking work, particularly at a time when the global zeitgeist and order are changing in profound ways.”—Gillian Tett, columnist and editorial board at Financial Times, Provost at King’s College, Cambridge, and author of Anthro-Visio

What listeners say about How to Listen When Markets Speak

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Great insights on the past and present state of the markets.

This book gives great, data backed, insight on the indicators the average person might miss about the trajectory of the market.

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A Must Read on Investing in the Next Ten Years

Larry makes a strong case for the shift from globalization and deflation to a multipolar world of commodity shortages and inflation. HIGHLY recommend.

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Re-read List

Amazing information and context therein. It is on my re-read list for 2024 at least.

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Incredibly insightful

Would write a longer review but need to go and adjust my portfolio based on the advice

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Excellent Book

Presented independent thoughts and logical conclusions. Riveting and thorough descriptions and practical suggestions. Well worth listening to.

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Good book for investors

Easy to follow logic. Well presented. Will see if it helps my portfolio. Good interview with Charlie Minger and others

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Made sense.

Provided a roadmap for allocating my assets. Easy to understand and easy to follow. Exceptional narrator.

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relevant advice

Prescient advice for current investors. Highly recommended for investors at all levels. I will either re-listen or read the book.

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The finance book I always wanted

Larry McDonald is a brilliant storyteller. The dialogue with the legends in the business is brilliant. You feel like you’re on a macro journey with the author. 10/10 would recommend.

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Educational, and no fluff

Just a good educational informative book and it’s straight and to the point. The author didn’t pad the book with a bunch of inversely wording

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