Market Smarts: Wise Investment Strategies for Today's Uncertain Times

Vernon V. Kakoschke was a lawyer in the law department of Canadian Pacific.

As an investment guide, this book will be of most interest to those investors who believe that the economies of the Western world are about to collapse. In order to survive to the twenty-first century, the author warns against placing too much faith in institutions. He claims that the individual investor should not trust banks because they are in grave danger of collapse due to unsound banking practices. Nor should the individual depend on his government, which is probably bankrupt. Rather, he advises individuals to accumulate those assets most likely to escape “organized plunder by powerful institutions.”

This rather pessimistic investment approach is based on the author’s general observations of the international scene, observations derived from conversations with international businessmen and from his reading of the financial pages of various newspapers. There is little in the way of sound research to back up some of the more incredible statements, such as the one that the Russians started the Eurodollar market in 1960.

Somewhat predictably, the investment recommendations in the book emphasize hard assets such as gold and silver and hard currencies such as the Swiss Franc. The stockpiling of food is also recommended; a closet full of freeze-dried food can apparently feed a family of four for a year. The stock market is not recommended for the long term. Indeed, an aggressive investor should start selling short in anticipation of the coming crash. The author’s strong views on strategic metals, diamonds, rare stamps, real estate, and the commodities market are also covered in separate chapters. The appendices at the end of the book contain some useful information for investors, such as a list of stock brokers, banks, and investment newsletters that are recommended by the author.

Written in a no-nonsense style, this book offers a provocative analysis of the global economy and presents many controversial warnings and recommendations.