Personal-finance

A classic. There is little like this book in public domain. Pring takes Intermarket analysis between stocks, bonds, commodities, and short term rates/Fed policy, and combines them into a business cycle model and framework. Outstanding piece of high level analytical work. Pring divides the business cycle into 6 stages, and describes how to identify the beginning and ending of the stages, and what to expect in between, but then he offers the jewel: what to expect from the tradeable financial markets during each phase of the cycle, and how to allocate to capitalize. In the hands of a serious investor, this is a roadmap that provides historical perspective and brings confidence in identifying sector trends earlier than you might with technical analysis by itself. E.g., it won't surprise you when the financial sector begins rallying when bonds bottom and turn up, and you can take positions earlier and with more confidence when you have historical business cycle perspective on your side. Best treatise on dynamic asset allocation I've seen. Makes the static allocation texts seem pointless and a way to "guarantee" investment mediocrity. A classic.