The title of this book is rather a mouthful but nevertheless, its a very interesting book for property investors to learn more about where the financial crisis that we are currently experiencing came from, how he predicts it will unfold and how we can better prepare ourselves for the future.
In the midst of the most serious financial upheaval since the Great Depression, legendary financier George Soros explores the origins of the crisis and its implications for the future.   Soros breadth of experience in the financial markets is unrivalled and he places the current crisis in the context of decades of study of how individuals and institutions handle the boom and bust cycles that now dominate global economic activity.
‘This is a once in a lifetime moment’, writes Soros in characterizing the scale of financial distress spreading across Wall Street and other financial centres around the world. In a concise essay that combines practical insight with philosophical depth, Soros makes an invaluable contribution to our understanding of the great credit crisis and its implications for the world.It shows in his deeper thinking about the way markets operate, Soros was several decades ahead of his time.Â
I’ll be honest and admit that some of the economic theory, even I didn’t grasp first time around (and thats with an economics A-level) but his theories and reflections on the crisis are a useful tool to both reflect on and also ensure that property investors are prepared for the future.
From the perspective of a property investor requiring access to funds from the banks, its a crucial piece of reading to find out how the banks have added to the credit crisis through globalization, removal of financial regulations and ever increasing financial innovations such as cross-collaterization loans and selling on of mortgage notes.