Austrian School for Investors: Austrian Investing between Inflation and Deflation

I’ve been anticipating this book for some time. I first heard about it via Pater Tenebrarum on his Acting Man blog. It immediately grabbed my attention because it was written by some folks associated the Austrian oriented Incrementum Fund in Liechtenstein. Frank Shostak, who in my opinion is the very best thinker on applied Austrian Economic thinking, is also associated with this group.

The Austrian School has its spectrum from “Orthodox Misesians” to proponents of the self-described “New Austrian School” and this book was written by those far closer to the orthodox Misesian camp.

When people think of investing books from the Austrian School, they usually think of the relatively new Dao of Capital by Mark Spitznagel. I read this book, thought there were some good things, but also not so good things. Mark has personally done very well for himself in the market, but I don’t think his book on Austrian investing was as good as the Austrian tradition can do. I will be reviewing the book shortly.

But in any case, I am quite excited for this new book, and I can’t wait to crack it open.

Here is a link that has the preface of the book and here is the blurb from Amazon:

Insanity seems to rule the financial markets and many investors are driven by delusion and anxiety. May everything you thought you knew about investing be wrong?

The Austrian School’s approach provides the needed respite for investors caught in inflationary treadmills.

Conventional investment experts often overlook economic developments which may become a hazard for mainstream investors. Instead, the Austrian School of Economics has proved itself as an independent approach beyond the interests of politicians and bankers.
The financial system is shaking. This book presents new paths through the shaky grounds between the tectonic plates of inflation and deflation to both private and professional investors.

“This book is a must-have for every responsible investor!” (Felix W. Zulauf, Investor)

“I am grateful to the authors of this book for not only highlighting the fundamental principles of the Austrian School but also for showing how investors can make practical use of them. ” (Dr. Marc Faber, Investor)

“For the first time an extensive compendium has been published in which the theoretical foundations developed by the ‘Austrians’ have been made useful for the investor’s practical needs. The authors develop a remarkable ‘Austrian investment philosophy’.” (Prof. Guido Hülsmann, University of Angers)

“The Austrian School’s perception helps us to see long-term patterns and opportunities that today are often hidden. […] For the authors and their important work I hope for the widest possible audience of a bestseller.” (Prince Philipp von und zu Liechtenstein, Chairman LGT Group)