In 2008, just about all investors, whether individuals, pension funds, mutual funds, or hedge funds, suffered greatly. Losses of 40-60% in professional managed portfolios were common. The results of the damage incurred have burdened our economy for more than a decade.
However, clients of Bert Dohmen were more fortunate. The written record reveals that he advised clients to have positions in the ETF’s that are designed to rise in price as the stock index or sector decline. Here is a graph of how these positions did during the critical six week crash:
|In his book, FINANCIAL APOCALYPSE, Dohmen gives a complete chronological account of the year 2008 and how he identified the clues of the approaching crisis. Dohmen shows the irresponsibly optimistic statements from the head of the Federal Reserve chairman, the top regulators, and leaders of the U.S. Congress.|
You will read what the heads of the largest financial firms said just days before their demise or forced takeovers. You will also read the optimistic forecasts of Wall Street at the same time, and how the true, evolving crisis was hidden in the media.
The book is not only an excellent historical record but also a great teaching tool on how to identify an approaching crisis, how to ignore comforting words from the perpetrators and the politicians, and how to detect the next financial crisis before it destroys your wealth.