That Doesn’t Work Anymore

Robert S. Kricheff is Senior Vice President, Portfolio Manager, and Global Strategist at Shenkman Capital, a global money management company. He regularly writes on markets and economics for the firm. Prior to joining Shenkman he was Head of High Yield Sector Strategy at Credit Suisse. Robert has a bachelors from New York University in Economics and Journalism and a masters from the University of London in Financial Economics. He has published two books and two e-books on investment analysis.

Your Economic Thought Patterns Need to Change






Ignore the Averages – Means Move





Disrupters or Just Progress





Cultural Changes Make Economics Change





Cultural Impact of the Great Recession





Everyone Needs to Change How They Measure Things- Always





Rethink Correlations and Resist Regression





Goodhart’s "Underappreciated" Law




Big Economic Data-points




GDP - Revisions, Central Banks and Why It Is So Useless





Is Growth the Right Economic Measure





Is Growth the Right Financial Measure





Unemployment Versus New Employment





Wages are Different Now





Inflation – It Can Help, It can Hurt – But it is Definitely Not the Same as it Was





Interest Rates and Falsehoods





Currencies – Chicken & Egg





The Asset Value Magic Trick – Stocks, Real Estate, Gold, Bitcoin Etc.





Expectations Theories – Always Changing, Always Relevant


Applying Changes in Big Economic Data to Investing and Business



Old Capital, New Capital




The New Role of Capital/Capital Formation





Capital Flow Data is Dangerous





Follow The Money or Fail





Human Capital – The Real Data to Watch





Capital, Political Structure and Aristotle


Applying Changes in Capital Flows to Decisions in Investing, Business and Career



What Government Does to Economics




Government’s Role: Past and Future





Funding Government – Rethink It





Taxes – Good, Bad and Completely Lost





Expense Management and The Government – A Misnomer?





Factoring Modern Government Into Economic Decisions





More Grey and Purple -Government’s Ability to Function


Government’s Role Today and Its Impact on planning your Investing, Business and Career



Financial and Business Data is Different Now and It Has Always Been That Way




Business Structures – Think Again





Business Investment What People Watch and What You Should Watch





Business Cycle Theory and Why Its Wrong





Tearing Down and Running Around the Barriers to Entry





Supply Chains and Pasta





Energy and Fossilized Ideas





Measure of Trade and Fools





Measures of Globalization: What to Watch and Why It Matters





The Problem With Earnings Reports and Expectations





The Invisible Consumer: Customer Retention Data , Big Data and Customer Service





How Not to Measure A Company’s Success


Revaluating The Way to Look At Business for Investing, Business and Career



Value, Risk and Investment Metrics




What are Things Worth Right Now





Money Do We Need to Change How We Count It





Hard Assets with Soft Valuations





Does Volatility Matter





Value at Risk – Real or Fantasy





Other Measures: Risk Premiums, P/E Ratios and All That





Regression, Extrapolation and Historical Averages





Projections are So Yesterday , Probability is So Today


Using Better Value and Risk Metrics in investing, business and your career



Random & Concluding Topics




New Industries and What to Do About Them





Emerging Economies – New Paths or Same Old Cycles





Socially Responsible Investing /Environmental, Social and Governance Factors (SRI/ESG)





Economic Activism





Trend Watching and Catching




Never Close Your Eyes, or You Will Miss Something

My first speech on Wall Street in 1969 was titled "The Best Investor Is a Social Scientist." After reading Bob’s enlightening assessment of how to successfully navigate markets during this time of rapid transition and disruption, I’m confident that my thesis is as true today as it was then. That Doesn’t Work Anymore is as valuable a tool for understanding how the world is changing as it is a guide for investors, business leaders and money managers to apply a broader scope and more rigor to work. --Michael Milken, Chairman, Milken Institute Kricheff explains why so many of the broadly used economic and financial tools need to be reconsidered in the face of rapid technological change. That Doesn’t Work Anymore highlights the unique challenges that industries and companies face as technology changes the world—particularly in the emerging markets. --Eraj Shirvani, Credit Suisse AG, Vice Chairman – Emerging Markets　 Bob Kricheff is the Malcolm Gladwell of investing. He rightly forces you to question the stalwart theories and rules of economics during a time where technological disruption across all industries has become the norm. That Doesn’t Work Any More analyzes everything from Keyes vs. Hayek to the impact of music streaming, and even the food industry. It is a must read for anyone serious about capturing alpha in a rapidly changing economic landscape. --Judy Joo, Chef, restaurateur, TV personality, and author An entertaining and enlightening book that expertly questions the status quo of investment economics during this present period of rapid technological innovation. Bob challenges core economic assumptions and provides a great, and often humorous, guide for navigating investments through an environment of constant disruption. Well done Bobby K! --Patrick Dyson, Partner, GoldenTree Asset Management We are surrounded by data, and we must learn to use new forms of information to make better decisions. That Doesn’t Work Any More illustrates how modern technology has changed the data we use, and the context for how we use it. This book is a helpful guide of novel ways to analyze the economy and our businesses. --Charles Rivkin, Chairman and CEO, Motion Picture Association of America (MPAA) Business in the 21st century requires a different lens to interpret trends and construct approaches to investment and management. That Doesn’t Work Anymore is a splendid prism through which economic data and developments can be viewed and understood. Robert Kricheff has written a clear and concise volume that frames economic concepts in a contemporary light. It is easy to read with robust examples that enrich one’s understanding of particular topics. His insights are entertaining and invaluable. --Robert I. Grossman, M.D., The Saul J. Farber Dean and Chief Executive Officer, NYU Langone Health