Defying the Market: Profiting in the Turbulent Post-Technology Market Boom

I'm addicted to reading investment books, and I've bought and read hundreds. But I recently finished one that I think is truly special-Defying the Market by Stephen Leeb and Donna Leeb. Although I knew that Stephen Leeb is well-respected investment adviser and money manager, I was skeptical when I saw from the jacket copy that this book argues that technology is slowing down and bases its investment advice on that premise. But the book convinced me that there's a lot to what he says. This is an investment guide that contains no hype, just a lot of solid research and original analysis. As a bonus, it is so readable that even though initially I thought I might find the section on technology and science hard going. I zipped through it. The Leebs aren't trying to impress or fill up pages-they have a real message and it comes across clearly. In fact, this book is a book not just for investors but for everyone that is interested in making sense out of today's world.

The Leebs' latest treatise presents a compelling argument that technology is starting to run into physical limitations, which will slow the pace of progress going forward.Whether or not you believe the case the authors lay out, the implications are far reaching enough that they merit exploring the argument.The most serious conclusion the book makes is that without technology leading the way to a more productive economy, the mandate for faster global growth will spiral into more inflation in the next millenium.If the conclusions are correct, it will throw the growth-investing world on its head. But all is not lost. The Leebs' tome isn't merely academic; the authors go onto instruct the average investor on how he or she can capitalize on this dynamic secular shift.Most important to the reader, the authors provide specific stock recommendations and model portfolios tailored to investors with varying amounts of investment funds. The result is a well-reasoned academic construct for investing in the 21st century superimposed on a functional investment book for even the novice investor.

This book has none of the typical drivel and conventional wisdom that pervade most investment books. Leeb's analysis of the critical and often overlooked relationship between the investment markets, technology and the economy are fascinating and convincing, and very likely will prove prescient as well. A must read for all long-term investors.

This book promises to be highly controversial. It took me totally by surprise in that it cogently presents a case for a dramatic slowdown in technology and the implications for stocks. I am not sure I agree with everything, but this is one of the most thought provoking books I have ever read. It will cause me to at least rethink my investments and maybe even lead me to change them.

The Leebs' book (as in S. Leeb's earlier work) states something that few would even consider, that the pace of technological progress is slowing markedly. He states in plain English what this means for the typical American investor. No longer can we rely on the pace of technological progress to drive the market to new highs, but rather we will need a new paradigm to look at the future. I recommend this book for anyone who invests and has a even passing interest in technology.