The Wall Street Journal Guide to the 50 Economic Indicators that Really Matter is a must-have guide for investors. Dow Jones columnist Simon Constable and respected financial historian Robert E. Wright offer valuable tips and insight to help investors forecast and exploit sea changes in the global macroeconomic climate. Unlike other investment handbooks, Constable and Wright’s guide explores the not widely known economic indicators that the smartest investors watch closely in order to beat the stock market—from “Big Macs” to “Zombie Banks.” Not only valuable and informative, The Wall Street Journal Guide to the 50 Economic Indicators that Really Matter is also wonderfully irreverent and endlessly entertaining, making it the most fun to read investors’ guide on the market.
Customer ReviewsSee All
The WSJ guide is an excellent addition to any serious investor's bookshelf.
The WSJ staff combines both their expertise with economic indicators and reporting, along with that of institutional money managers and professional economists to go well beyond a list of common indicators. The professionals interviewed for the book discuss what the different indicators mean to them and how they apply them.
Anyone can look up weekly claims for jobless benefits, the WSJ guide goes beyond the CNBC headlines. The authors use many indicators that may not always make headlines such as semi conductor book-bill ratio, the Economist Big Mac Index, and London Metal Exchange Inventories. The book covers more complex indicators that are assembled from other data such as petroleum refining crack spreads.
The book covers the benefits of each indicator, but is also forthright about the limitations that some indicators have such as the lack of timeliness of T.I.C. data.
Some of the indicators are only available through specific subscription, but those are few and authors up front about them. One small criticism of the book is that almost every indicator is accessed primarily through a WSJ web site. It is their book and they wrote it, but we pay for it and don't need 50 instances of advertising.
The authors assembled the book very coherently so that it can be read chronologically or any individual indicator or section may be read on its own and still be equally as useful as if we do read the book chronologically.
I think this book rates up there with Anthony Crescenzi's Investing from the Top Down as a must read for anyone investing from a macro perspective or even someone casually interested in what all the headline economic reports are in the business press.