AUSTRIAN SCHOOL FOR INVESTORS by Taghizadegan, Stöferle, Valek and Blasnik
Authors: More info about the authors in the fourth picture of the instagram account. Book available at @misesinstitute
Book: Most investors often overlook economic developments which may become hazardous with the argument that they are not foreseeable. Instead, the Austrian School of Economics has proved itself as an independent approach beyond the interests of politicians and bankers. This book presents new paths through the shaky grounds between the tectonic plates of inflation and deflation to both private and professional investors. We could say that the book is divided into three main parts. Firstly, it presents the basics of the Austrian School, then it explains the forces behind the business cycle, inflation, deflation, and others and finally, it links the previous study with the philosophy and practice of the Austrian oriented investor.
Opinion: This is a very solid book on both Austrian Economics and Investing. Despite being a book for “investors”, the authors manage to explain the principles of the school in a tremendously didactic way, thus I would recommend the book to almost all individuals, independently of the previous knowledge they have about The Austrian School. They also explain concisely the true forces behind inflation and deflation, something usually misunderstood by the general public (Mainly due to the huge audience charlatans have in TV, newspapers and universities). Finally, I liked Harry Browne’s permanent portfolio (even distribution of Stocks, Bonds, Cash and Gold). I find it superior to Ray Dalio’s “fragile” all-weather portfolio. (However, I still prefer Spitznagel/Taleb/Bhansali approach to risk mitigation)
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