Defying the Market
PROFITING IN THE TURBULENT POST-TECHNOLOGY MARKET BOOM
In the world of technology, one of the best-known maxims is Moore’s Law, a 1965 prediction by the cofounder of Intel, which states that computer chips will double in speed and power every 18 months. For many, Moore’s Law has come to symbolize the idea that all aspects of technology–from medicine to weather prediction–will continue to move forward at the startling rates we’ve grown used to.
In Defying the Market, investment guru Dr. Stephen Leeb presents a different interpretation. He notes that people back in the 1960s continued smoking, even when they knew it would make them sick, because they felt sure science would find a cure for cancer by the time they got it. As we all know, the cure hasn’t been found, and Dr. Leeb feels that most technological innovation has in fact ground to a halt. Science, he argues, is limited by the fact that it depends on computers to make new discoveries. But we can’t really make computers any smarter–only cheaper and faster.
In addition to a technological slowdown, Dr. Stephen Leeb also sees an unabating demand for worldwide economic growth. Put these two phenomena together, and you’ve got inflation, which is not entirely bad news for investors. He predicts that oil and gold stocks will rise from the modest positions they’ve held in the low-inflation ’90s; that computer stocks like Dell and Gateway will falter because, as prices rise, users won’t feel a need to buy a brand new computer every year for mere incremental improvements in speed and whiz-bangery. He also discusses why only the largest tech companies will continue to profit… and other surefire bets for any savvy investor’s portfolio.
AUTHOR > INVESTMENT ADVISER > RENOWNED ECONOMIST
Stephen Leeb is a prolific author, investment adviser, and money manager who has been analyzing financial markets for more than 40 years. Known for his prescience in connecting the dots among hidden or overlooked trends-macroeconomic, scientific, and geopolitical. Accurately describing the investment implications, often going against conventional wisdom. Author of nine books on investing and geopolitical trends including his most recent book, China’s Rise and the New Age of Gold: How Investors Can Profit from a Changing World (2020, McGraw-Hill Education). Senior Editor of the award-winning investment newsletters The Complete Investor and Real World Investing, published by Investing Daily. Stephen is the Founder and Research Chairman of Leeb Capital Management- a wealth management firm based in Manhattan, New York.