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Juggling with Knives: Smart Investing in the Coming Age of Volatility Hardcover – January 26, 2016

by Jim Jubak (Author)

2.9 13 ratings

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Stunning volatility is the new "fact of life" that defines our age. Financial markets fall off cliffs one day, but then stage a recovery the next, only to do it all over again. The switch back and forth is emotionally draining, making us susceptible to irrational responses that can turn manageable problems into huge personal crises. But while there is danger in volatility, there is also the opportunity to profitably juggle the knives that volatility throws your way -- with less risk than you might think.

The first step toward profiting from volatility is to understand why these radical ups and downs are taking place now. Jim Jubak's deep and broad-ranging analysis looks into not only the financial but also the economic, market, and social trends, showing how they reinforce each other, including:

the consequences of global central banks operating as cash machines,
a financial system that will not be reformed,
China as the world's largest game of three-card monte,
the aging of populations around the world and the resulting war between the young and old,
and the large bill we will have for the consequences of environmental externalities such as climate change and energy uncertainty.

Jubak analyzes these and other trends, providing practical insights and specific investing strategies that show investors how to respect -- but not be scared of -- market volatility, and how to make smarter investment decisions to profit from and hedge against it.

Editorial Reviews

Review

[An] informative, often entertaining book. Whether discussing the effects of food and water shortages or the boom-and-bust real estate markets in such diverse enclaves as hipster Williamsburg (Brooklyn) and Boomer Sarasota (Florida), Jubak brightly illuminates the trends shaping our present era. Solid advice for thoughtful investors.” Kirkus Reviews

A thoroughly enjoyable if somewhat unnerving book. Jubak does a masterful job of describing global volatility trends, their causes and dangers, paying special attention to China. But he also brings volatility home, dealing with real estate prices, educational costs, and the job market. A worthwhile read.” Valuewalk

About the Author

Jim Jubak has spent twenty-five years writing about the capital markets, beginning in the early 1980s as the editor of Venture magazine and later as senior financial editor at Worth. In 1997 he joined MSN Money as senior markets editor and started Jubak's Journal and the Jubak's Picks portfolio. The MSN software developers were justifiably skeptical that a mere journalist (even one with a Knight Bagehot fellowship in business journalism from Columbia) could beat the market and they issued a challenge: "If you're so good, track your buys and sells as a real portfolio."

That's exactly what he's done ever since, first on MSN Money (with 4 million unique users per month), where Nielsen ranked him the #1 investor columnist on the web, and now on his own blog, JubakPicks.com, launched in 2009, which averages 50,000 unique users per month. His stock-picking track record speaks for itself: the Jubak's Picks portfolio has returned 305% since its inception in May 1997. Jim currently runs two other stock portfolios on JubakPicks.com. Jim now writes for Yahoo Finance.

Product details

Publisher ‏ : ‎ PublicAffairs; 1st edition (January 26, 2016)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 384 pages
ISBN-10 ‏ : ‎ 1610394801
ISBN-13 ‏ : ‎ 978-1610394802
Item Weight ‏ : ‎ 1.3 pounds
Dimensions ‏ : ‎ 6.5 x 1.25 x 9.5 inches

Best Sellers Rank: #3,690,807 in Books (See Top 100 in Books)
- #1,278 in Investment Portfolio Management
- #4,113 in Stock Market Investing (Books)
- #7,042 in Introduction to Investing

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2.9 13 ratings

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kmm

boring book on investing that I've read in the past ...

Reviewed in the United States on May 19, 2018

Verified Purchase

I'm a newbie to trading, but I have to say that this is the most unhelpful, boring book on investing that I've read in the past 3 years. Many other resources have been much more helpful. Don't waste your money on this book!

2 people found this helpful

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David Wilson

Fascinating read.

Reviewed in the United States on May 11, 2016

Verified Purchase

Fascinating read. The breadth of Jim Jubak's knowledge, and the amount of research behind this book, is astonishing.

3 people found this helpful

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tgh

Volatility!!

Reviewed in the United States on October 16, 2016

Verified Purchase

This book focus is on the issue of volatility, the past history, current volatility issues, and possible solutions. Difficult reading, but worth the time and effort.

2 people found this helpful

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martin bello

Unfortunately I am disappointed in some ways stated below

Reviewed in the United States on June 16, 2016

Verified Purchase

This is an interesting book about an important subject. Unfortunately I am disappointed in some ways stated below:
(1) there is no precise mathematical discussion of what is meant by volatility in a statistical or probabilistic sense
(2) there are complex discussion of financial instruments as well as some indexes related to volatility that are not intelligible
to someone who is not an expert in these matters...In the next edition, this should be made more readable to the laymen.
I have a PHD in engineering from MIT and I found the text in some places unreadable due to the lack of definitions and more elementary discussion

10 people found this helpful

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G. Miller

Jubak doesn't finish his work

Reviewed in the United States on April 1, 2024

"The coming age of volatility", Really Jim, the markets were not volatile before you published your book?
I started following Jubak years ago because he talked very highly of himself. I started subscribing to one of his services because I wanted "10 hot penny stocks". He never finished releasing the names of the 10 stocks, over a month! Other lists of ten he has haven't been finished in years. His returns look good, till you compare him to say Zacks, that has beaten him by double and triple digits year after year after year. No, he doesn't write for Zacks any more.
What he has time for is long speculative tomes that miss the market. Please read his free guide on how you should have taken all your money out of equities in Fall 2023 because of the coming bear market crash. Jubak missed the Magnificent 7, for years. Jubak has excuses.

Helpful

Steven P. Spinella

Second order volatility—with extra volatility please

Reviewed in the United States on June 4, 2016

Second order volatility—with extra volatility please

What do you do with a PhD in English? Jubak apparently became the best-read investor columnist on the web (Nielsen, per the dust jacket), then went on to edit a couple websites, at least one of which charges an annual subscription. Along the way he’s written six or seven books including this one, which I picked up at the public library, published in spring 2016. So if you read this, expect complex sentences, well-crafted paragraphs, and generally cogent prose, occasionally a little short on proof-reading. (Who likes to proofread when you can write so well?!)
If you were a mathematician (or maybe a statistical economist), you might call it second order volatility—volatility that is volatile in the way it changes. Jubak doesn’t call it that, but he does find volatility everywhere—in the short term, the long term, the financial markets and everyday life, bonds, stocks, currencies, and emerging markets, real estate, commodities, energy, climate, jobs, education, and even big data. And did I mention China? I thought his discussion of China was excellent!
What I like the most is that this book actually relates the economy to investing. All of these real life factors provide the context for the markets. He also provides a cogent explanation for why “modern portfolio theory” (think 60% stocks, 40% bonds) won’t necessarily work in the days ahead, and maybe never did work for the reasons people thought it did.
Beyond volatility itself, Jubak also notes that volatility begets volatility in investors, and this results in less reliable decisions, not just decisions in a less reliable world. For me, his discussion of volatility in today’s world was more valuable than his proposed investing solutions. However, I admit I follow several of the less volatile investing solutions he discusses—investing in dividend-paying stocks and dividend stocks ETF’s, owning real estate (without debt) as well as equities, investing as well in industrials and multi-nationals. Where we diverge is that Jubak advocates more volatile investing strategies (adding diversified risk, making short term trades, using options and trading options, buying leveraged and option-based ETFs, investing in foreign markets) while I advocate lowering volatility wherever possible rather than “taking advantage of volatility.” As he points out, these strategies are only useful to people who have an edge through knowledge of trends and factors others have not uncovered. I have no way of knowing, in this age of volatility, whether my knowledge is ahead of the curve or behind it. And that in fact is the question—given the volatility of the volatility (second-order volatility, if you will), how can we know which side of which curve we’re on?
So I suggest that you read this book, for the chance to reflect on how volatility increases with volatility, in all parts of our world, as well as the chance to look at specific dimensions of volatility in today’s economy and world. However, my suggested response to that volatility is to seek to lower it, not to leverage it. I think you’ll sleep better at night, not because the book puts you to sleep, but because lowering expectations generally leads to better adaptation. (And, yes, I got that from everyday life, not just the markets or this book!)

8 people found this helpful

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Maureen

Book Review - ZOptionTrader

Reviewed in the United States on February 3, 2016

For those of you who don't keep substantial capital on the side lines - who remain fully invested at all times (buy and hold) - causing you sleepless nights during Market downturns - this book is for you.

Jim Jubak, who I have followed ever since he wrote for MSN Money - has a new book which discusses "Smart Investing in the Coming Age of Volatility".

The book is broken down into three sections:

Part I – Jim discusses the volatility he sees coming in the decades ahead.
In Part II – he expands beyond just the Markets, showing how this volatility will affect everyday life.
And in Part III – he shares his investing solutions for dealing with this volatility.

I don’t agree with all his solutions (Like shorting US Treasuries) – but he makes really good arguments that require thought and analysis to understand, regardless of your own outlook.

I have been going back to reread many of the chapters in this book, a sure sign it made me think about my own tools to deal with volatility in the Markets and in Life.

9 people found this helpful

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Jim Gentile

I was considering reading your book but if you can't ...

Reviewed in the United States on July 27, 2017

I was considering reading your book but if you can't even get the Nasdaq high on March 10 th of 5048 , not 5408 as you stated then I will pass.

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