Barton Biggs 
Wealth, War and Wisdom 

An intriguing look at how past market wisdom can help you
survive and thrive during uncertain times

In Wealth, War & Wisdom, legendary Wall Street
investor Barton Biggs reveals how the turning points of World War
II intersected with market performance, and shows how these lessons
can help the twenty-first-century investor comprehend our own
perilous times as well as choose the best strategies for the modern
market economy.

Through these pages, Biggs skillfully discusses the performance
of equities in both victorious and defeated countries, examines how
individuals preserved their wealth despite the ongoing battles, and
explores whether or not public equities were able to increase in
value and serve as a wealth preserver. Biggs also looks at how
other assets, including real estate and gold, fared during this
dynamic and devastating period, and offers valuable insights on
preserving one’s wealth for future generations. With clear, concise
prose, Biggs

* Reveals how the investment insights of truly trying times can
be profitably applied to modern day investment endeavors

* Follows the performance of global markets against the backdrop
of World War II

* Offers many relevant lessons-about life, politics, financial
markets, wealth, and survival-that can help you thrive in the face
of adversity

Wealth, War & Wisdom contains essential insights that
will help you navigate modern financial markets during the
uncertain times that will increasingly define this new century.

Jadual kandungan

Foreword v

Introduction 1

Chapter 1 Listen to the Market Crowd 7

Chapter 2 A World Darkened by Fear: An Overview of Soviet, German, and Japanese Aggression from 1929-1945 19

Chapter 3 Stock Markets Struggle: From the Great Depression to the Start of WWII 35

Chapter 4 ‘1940: The Most Splendid, Most Deadly Year’: The Time of England’s Greatest Peril 55

Chapter 5 Besieged and Alone: England in 1941 91

Chapter 6 Operation Barbarossa: Germany Attacks Russia 109

Chapter 7 Miracles at the Coral Sea and Midway: Japan and America 131

Chapter 8 Stock Markets Understood: Nobody Else Did 153

Chapter 9 The Four Horsemen of the Apocalypse Ride Again 173

Chapter 10 France Declines Financially, Economically, and Socially 187

Chapter 11 Gone with the Wind: Preserving Wealth in Italy and Germany 203

Chapter 12 Stalingrad: The Battle of the Century 231

Chapter 13 Defeats and Then Victories in Asia and North Africa 251

Chapter 14 The Test in Korea: The Last Battle of WWII 275

Chapter 15 Preserving Wealth in a Time of Cholera 303

Chapter 16 Barbarians at the Gate 321

Notes 335

Bibliography 347

Index 353

Mengenai Pengarang

BARTON BIGGS spent thirty years at Morgan Stanley. In that time, he formed the firm’s number one-ranked research department, was chairman of the investment management firm, and then became the firm’s leading global strategist. He was often ranked as the number-one U.S. investment strategist by the Institutional Investor magazine poll and then, from 1996 to 2003, as the top global strategist. In 2003, Biggs left Morgan Stanley and, with two other colleagues, formed Traxis Partners. Traxis now has well over a billion dollars under its management. Biggs’s previous book, Hedgehogging, is an international success.