Akhil Patel (Meet The Author) - The Secret Wealth Advantage
Aug 11, 2023
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Akhil Patel, author of 'The Secret Wealth Advantage', discusses the inspiration behind his book and alternative views of economics. They explore the possibility of a land boom in the UK and Australia, and strategies to maximize income during this phase. They also discuss the target audience for the book and ways to prepare for an inevitable crash in the economy.
The Secret Wealth Advantage book explains the 18-year economic cycle and provides practical advice on managing investments throughout the cycle.
Investing in property and industries like banking and construction can be profitable during the land boom phase of the economic cycle.
Deep dives
The book aims to provide practical guidance on navigating the 18-year economic cycle
The Secret Wealth Advantage, How You Can Profit From Economies Hidden Cycle, written by Akil Patel, aims to fill the gap in understanding what to do with the knowledge of the 18-year economic cycle. The book distills the insights of experts like Phil Anderson and Fred Harrison, providing a single resource that explains each stage of the cycle and its impact on various markets, such as land and stock markets. It also refreshes and updates fundamental economic concepts like the law of economic rent. By doing so, it offers readers practical advice on making informed financial decisions and effectively managing their investments throughout the cycle.
The cycle repeats despite changing economic conditions
Despite changing economic conditions, the 18-year cycle, as explained in the book, continues to repeat. Patel emphasizes that the cycle persists due to both the lack of understanding of fundamental economic laws and the turnover of decision-makers between cycles. He notes that even during this current cycle, characterized by low interest rates and shifts in global economic power, the cycle is following a similar pattern. We are currently in the land boom phase, experiencing a global construction boom and a rise in prices. Patel predicts that the cycle will peak around 2026 and suggests that investments in property and certain industries like banking and construction can be profitable during this phase.
Practical actions for maximizing income and preparing for the crash
The book provides practical actions for readers to maximize their income and prepare for the forthcoming crash. During the land boom phase, Patel suggests investing in good locations and being cautious not to overpay due to increased competition. He also highlights the potential for gains in the stock market, particularly in industries associated with the land boom. As the cycle approaches its peak, Patel advises readers to be cautious and build up savings in safe assets like government bonds. This ensures they are not forced into selling assets at a low price during the crash. By following these strategies, readers can position themselves to take advantage of low asset prices and make wise investment decisions when the cycle reaches its trough.
My guest today is Akhil Patel, author of a fantastic new book The Secret Wealth Advantage- How you can profit from the economy’s hidden cycle. Now regular listeners and friends of Shepheard-Walwyn will recognise Akhil as the director of Property Share Market Economics along with Phil Anderson. Here they teach subscribers how to remember the future and to profit from the real economic order. Akhil has professional experience both in the UK civil service and in international development and business. And he's worked on a range of issues from reviewing large infrastructure deals to helping establish a UK International Climate Fund. Akhil has two master's degrees both in finance and public policy, and also a first-class honours degree in classics from Oxford.
In this interview, we talk about how the book came about, his inspirations from the Shepheard-Walwyn authors and also what readers can take from the book to improve their investing success.