How to Listen When Markets Speak

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What to expect

Brought to you by Penguin.

A New York Times bestselling author and leading expert on market risk outlines new rules of investing for the forward-thinking.

From Wall Street to Downing Street, the fantasy of an eventual 'return to normal' is still alive and well, nurtured by dangerously outdated theories.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. And few are prepared.

Lawrence McDonald 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. Now, he unveils the predictive model he developed in the aftermath, outlining actionable trading ideas for a radically reshaped economy. Readers will discover:

  • Why inflation will stay near 3-5% for the next decade
  • Why oil prices will remain at historic highs for the foreseeable future
  • Why hard assets and rare minerals like lithium and cobalt will outperform growth stocks and passive investment strategies
  • Why America will likely lose its position as a global superpower and holder of the world's premier reserve currency

Rather than merely doomsaying, How to Listen When Markets Speak equips readers to make sense of our current moment, resist reactionary narratives and baseless analysis, and pounce on a new investing playbook.

©2024 James Robinson & Lawrence McDonald (P)2024 Penguin Audio

Critics Review

  • As soon as I finished How to Listen When Markets Speak, I took a long, hard look at my portfolio. Any investor with skin in the game needs to buy this book.

    Niall Ferguson, Harvard historian and author of The Ascent of Money and Doom

  • How to Listen When Markets Speak makes gutsy predictions about seismic shifts in the global economy, advises readers on how to prepare for those shifts, and anticipates trends in almost every asset class while sharing important signals that can give investors an edge in the volatile years to come.

    Gregory Zuckerman, author of The Man Who Solved the Market

  • McDonald’s provocative, passionate and sometimes prophetic insights are always worth pondering, even (or especially) when you disagree. His latest book offers strong riposte to the tech hype, bull-market euphoria, and wishful thinking about a soft landing. It is a thought-provoking work at a time when the global zeitgeist is changing in profound ways.

    Gillian Tett, columnist for the Financial Times, provost at King's College, and author of Anthro-Vision

  • 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 former owner of the Dallas Mavericks

  • 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 recommended it to anyone keen to protect their wealth in tumultuous times.

    Raoul Pal, CEO and co-founder of Real Vision

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