The global strategist shares decades of experience in his first book.
Global strategist at İş Yatırım Şant Manukyan distills decades of experience into his book Global Piyasalar - Dünü Bugünü Yarını (Global Markets- Yesterday Today Tomorrow, Kronik Kitap). The book is vast in scope, as Manukyan explains: “The first two decades of the 21st century have been unprecedented, taking us through many of the major economic/financial concepts - such as deflation, inflation, secular stagnation, stagflation, recession, bankruptcy, default, boom, bust - and teaching us new ones. No economy or finance book I have mentions section 13-3 of the Federal Reserve Act. Most of us thought financial instruments such as CDS'/CDO's were tools for hedging or for more efficient markets. Very few realized they were financial destruction tools.
“In my first book I have tried to provide a summary of the system, debunking hypes, showing how it really functions. I also discuss the future: Crypto assets (not currencies), central bank digital currencies, centralized and decentralized finance, and finally a new world order after the disintegration of the post-WW2 order, namely Bretton Woods. The final chapter is on how to prepare for the ‘Ordo ab Chao’ (order from chaos): Adjusting our cash flows, volatility and safe havens for investment.”
Manukyan credits RC with finding his credo: “RC has given me the foundations of individualism. ‘He travels the fastest who travels alone’ was Kipling’s line I read in the RC Library, and it motivated me to travel fast and far.”
Published January 2023
