The Big Gamble: Are You Investing or Speculating? PDF Print E-mail

The Big Gamble

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TRUMP PRAISES NEW BOOK ON SPECULATION

The Big Gamble


“The first mistake people make when dealing with financial decisions is to confuse investment with speculation, and speculation with outright gambling. Read this book and you will understand what the terms really mean. A great read!”

- Donald J. Trump


 Credit Crisis. Meltdown. Bailout. Nosedive. Recession.  Those scary words appear in the news nearly every day. Faced with unprecedented economic turmoil, you need all the help you can get to understand what’s happening and how to avoid a financial nightmare. In The Big Gamble, you’ll find just the kind of insight and practical advice you need.

In plain English, you’ll get answers to questions like these: How did this happen? What should I do with my money now? Who should I trust? What will happen next? How can I spot the next economic bubble in time to protect myself? Get your copy now!

MORE ABOUT THE BOOK

The Authors

 

Jose Roncal

 

Jose D. Roncal is a truly global executive with over 20 years of experience in international business and finance, having worked and travelled frequently in six continents. Specializing in telecommunications and information technology industries, Mr. Roncal has served such well-known multinational companies as NCR, AT&T, Verizon Communications and the U.K.-based blue chip company, Cable and Wireless.

For more than 15 years, he has lived around the globe as a Chief Financial Officer, focusing on mergers and acquisitions, joint ventures, strategic alliances and spin offs among other strategic activities. He is a well known transformational and corporate turnaround specialist and inspirational leader, with a proven track record in developing high-performance operations.

Mr Roncal has authored numerous articles on business strategy, finance, accounting, capital markets and the global economy. He holds an MBA from Thunderbird University and a BA from Florida International University both in the USA and has attended various senior executive programs at Oxford University in the United Kingdom.

 

 

Jose Abbo

 

Jose N. Abbo has two decades of experience in the capital markets. Mr. Abbo has authored numerous articles and speaks frequently on the financial markets and the global economy. He has researched and written for such well-recognized publications as The Economist Intelligence Unit and America Economia.

In 2000 Mr. Abbo published Divisando Wall Street Desde el Sur de America, a comprehensive guide for the Spanish-speaking community that explains the workings of the stock market. He makes regular guest appearances on various radio and television programs and has served as an expert witness in financial trials and forensic cases.

Based in Panama, currently Mr. Abbo is International Finance VP for the telecommunications multinational Cable & Wireless. He holds a degree in Professional Management from Nova University and has served as an MBA tutor for Tecnológico de Monterrey/ Thunderbird University Panama-based Global MBA programs.

 

 

Get Your Copy

 The Big Gamble

 

 

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Real Estate: Time for Speculators to Go Cherry Picking? PDF Print E-mail
  
Monday, 01 February 2010 05:45
There was a time when making money in real estate was thought to be a no-brainer.  You know that old meme: "Invest in real estate because they aren't making any more of it.  Therefore, property will always increase in value."  Or so it seemed.

But in our book, The Big Gamble, Are You Investing or Speculating? we gave you plenty of examples of how those sure-fire real estate deals turned out to be nothing more than speculation and tanked right along with a huge percentage of the nation's Wall Street holdings.  And we wrote it before the real mortgage crisis had kicked in.

A mere decade ago, we couldn't have written a book with a title like that and expected anyone to accept our premise that there is no such thing as an investment because it's all speculation—especially when applied to real estate. That's all changed now as the economy struggles toward recovery amidst the 1.9 million home foreclosure filings reported on U.S. properties in the first half of 2009 alone.

Nearly 11 million U.S. homeowners (that's one in four!) are underwater on their mortgages – meaning the value of their homes has sunk below the amount they still owe the bank.  In some parts of the country – California, Nevada, Florida, Arizona and Michigan – the underwater percentage is over 40 percent!  Ask some of those unfortunate buyers if they still feel like they made a good "investment."

What can they do now?  What should they do? Some say that it's logical for people to want to walk away if they're too far underwater.  They could find comparable rental housing for less than what they pay in mortgage payments and learn to live with a bad mark on their credit for the next seven years.  But if the idea of walking away from their debt becomes too widespread, it will leave even more havoc in the wake.  Banks will have to carry an increasing number of bad loans on their books, which means they'll be less likely to make new loans, and that tends to push home prices even lower if no new buyers can get financing.

In spite of this grim picture, some economists and business groups are preaching that the worst is over and that it's time to start cherry picking again. What they are really saying is, if you have enough capital to play with, it's time to go speculating again.
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