Aprendiendo de las crisis anteriores para invertir con éxito en el futuro

Pablo Gil puts his more than thirty-five years of experience managing financial assets at the service of the new investor. And he does it with an original approach and a fresh style not found in academic books. This book provides the reader with some simple tools to become familiar with the perspective of investor psychology. Because although the price of any asset is always affected by macroeconomic factors, there is one variable that matters more than any other: the expectations in the minds of investors. Expectations determined by psychological factors that feed back into the most important investment opportunities in the long term, and that usually end up creating large "bullish bubbles" or "panic crises" when they finally burst. With a double technical and macro analysis, Pablo Gil teaches how to detect excessive upwards and downwards in the valuation of assets such as the stock market, bonds or raw materials, and how these changes in expectations point to changes in trend. In these pages you will learn to interpret a price chart, a true thermometer that reveals changes in market sentiment that ultimately generates the replacement of positive expectations with negative ones and vice versa. The method is based on his personal experience throughout the great financial crises of the last four decades that he has had to manage, such as the "Black Monday" of 1987, the ".com" bubble crisis of 2001, the financial crisis after the bursting of the real estate bubble in 2007 or the crisis unleashed by the COVID pandemic. The author provides us with tools to identify the common factors that are usually present in each of these anterooms to the destruction of capital. Because we can learn from previous crises, and maximize the monetary management of our investments, not only by analyzing the macroeconomic situation that accompanied those historic moments, but also by discovering the collective climate of investor opinion that fuels fears during the worst crises.