[strider3700]

My copy just arrived a few weeks earlier then I was expecting. Anyways I'm just starting into it and will provide a full review when I finish probably sometime next week. Initial impressions are 200 pages isn't very big since there are 15 chapters and it covers everything from the past oil crisis, and the dotcom collapse, through why peak oil will happen on to investment choices to make based on peak oil.

I do have to say this guys last book, "The Oil factor" seemed to be fine for investment recommendation until I realized that I was reading it 2 years after release in which case he nailed it early enough to make some money on it.

[gardener]

My wife gave me this book on Friday of last week. I skimmed the first 12 chapters. Peak oil is explained and the inflationary history of the 1970's is used as model of what we might see in the future. The dotcom bust is used at a cautionary tale of how to avoid losses. Several chapters on the herd mentality of Wall Street and how to break out of the "Groupthink". The author is a PhD psychologist. The last two chapters deal with the investment advice which simply breaks down as 1) Gold and gold associated stocks 2) Oil and oil associated stocks 3) Real Estate and associated management stocks 4) TIPS as the only bonds to own. The last chapter is on "alternative energy" which to him are LNG, oil sands, wind, biofules, nuclear, syngas, clean coal etc.

Not much new in here for us who have a solid grasp of Peak Oil and have already adjusted our investments accordingly. No gardening advice, though, which is how I plan to survive the coming economic collapse.

[julianj]

I read the Oil Factor some time ago, thought it extremely good. I'd appreciate advice as to whether Leeb's new book is worth having. For some reason, I'm trying to keep unnecessary expenditure down

What I mean is, is The Coming Economic Collapse merely a rehash of his previous book or is there new material?

[strider3700]

Well 1/4 of the way though I have a better understanding of why the powers that be will do nothing to prevent us running off the cliff. My doomer self already figured we where going to run off the cliff, this just gives me the reason why.

The reason he doesn't appear to be going into guns and gardens is because he states early on that he thinks things can be stopped from hitting the mad max levels. He's also not talking about people starving and freezing to death(at least not yet he isn't) he's talking about economic collapse and the end of society. That would make his investment choices of gold , oil and real estate(if that is what they are since I'm not there yet) make sense.

As to why buy the book? It will probably take soft landers into to doomer camp. You could do better buying other books on prepairing unless you're hoping to profit near the end as I am. I'll reserve judgement until I finish but at this point I'd recommend you read the planning for the future forum, the economics forum and the conservation forum. Same info plus tons more available there.

[julianj]

Thanks Strider: it sounds like its worth having. I've put it on my Amazon Wish list

[strider3700]

Ok I'm now 3/4 done the book and I'm so far un impressed.

Everyone here is probably already a peak oil believer. The middle half of the book is all about why it will happen and some ideas on how to prevent it. Being a doomer I read it all and basically think it's wishful thinking. At least the author is honest about how hard things will be if we don't change.

Anyways I'm just getting into the chapters on personal preperations which should be mostly economic in nature.

The book is now lunch/coffee reading material so next week I should be finished.

At this point I'm not recommending this book. The material it has covered so far is better covered elsewhere.

[strider3700]

I finishied. Basically the book isn't worth it.

In the end he gives about 15 pages of recommendations. The only interesting bit is if you've read "The oil Factor" there he recommends an oil index type of method on when to move your investments into energy and then back out based on the rise in price of oil. He now no longer recommends that instead he makes lists some investments he likes and says to go with a buy and hold strategy.

Investments that he liked include
Gold,
Oil
Alternative energy - Wind, Coal gasification, Nuclear
zero coupon bonds? Some form of inflation proof bond anyways.
Believe it or not he also liked toyota. I'm assuming it's a short term play.

If anyone is at all interested in the book I recommend they go to a bookstore and read the last two chapters. Thats it.

[turn74]

Just finished reading it April 8th. I think it's a worthwhile read if you are an active investor. I've also heard the author's interview on his earlier book with Jim Puplava- www.financialsense.com

If you are the typical "loser passive investor" that hands your money over to moronic 401k companies who have sold you a sales pitch, then it's not for you.

It's for the investors who want to get ahead based on the future of peaking of oil production and stay AWAY from Wall Street's "groupthink" who currently think oil is coming back down to $25- $35 a barrel.

401k investors will lose BIG TIME when oil runs up over $100-$200...

Screw 401k's......


Turn74

[oswald622]

i've read it. it's a very good book to give to a PO beginner, especially if they're conservative or business minded.

[DantesPeak]

Steven Leeb appeared on Bloomberg Radio today. Here’s a recap of what he said:

(on oil) We’re running at 100% and no ability to add capacity at this point.

Even ignoring Matt Simmons and POers, 300,000 barrels a day of additional demand has been created in the ME area alone. The ME is consuming all incremental oil production increases.

In today’s world, developing countries can not conserve at any price. It is unrealistic to expect them to conserve.

There is virtually no belief in business or politics that oil will be at $200 five years from now (like he believes).

SL believes that wind power could make a major impact on energy supplies with development of infrastructure.

[azur]

I read and enjoyed The Oil Factor a couple of years ago, and have subscribed to Leebs investment newsletter since.
The new book is enjoyable, but is basically just an update of the position he took in the Oil Factor. If you have not red the Oil Factor, skip it and go straight to The Coming Economic Collapse.

[Offshore]

This book is great. Chapter 14 "Making Money in the Coming Collapse" is the best chapter. He goes back to the 1970s and shows what investments performed best. No surprise: gold, oilfield services (slb, hal), drillers (rig, nbr, ne).

[TreebeardsUncle]

Read it and bought RIG and NE this year. They did well. He was good at pointing out that the Oilfield Services sector performed best in the 70's with several years of annual gains on the order of at least 30% and among those the drillers did best. Noted that the offshore drillers have been doing better than the land drillers, and the deep offshore drillers like Transocean are doing better than the more shallow drillers. That shows is is later than it seems to some.

Geoff

[Offshore]

$this->bbcode_second_pass_quote('TreebeardsUncle', 'R')ead it and bought RIG and NE this year. They did well. He was good at pointing out that the Oilfield Services sector performed best in the 70's with several years of annual gains on the order of at least 30% and among those the drillers did best. Noted that the offshore drillers have been doing better than the land drillers, and the deep offshore drillers like Transocean are doing better than the more shallow drillers. That shows is is later than it seems to some.

Geoff