After this crisis is over, who will be the real winner?
If you want to seize the perfect opportunity to invest in this era of high exchange rates, high inflation, and high interest rates, read this book!

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Highly recommended by Korea's top investment experts
The best book to learn about macroeconomic trends and develop investment acumen!

The Great Depression, the dot-com bubble, the subprime mortgage crisis… The 1997 IMF foreign exchange crisis was South Korea's first economic crisis.
So how will the crisis that froze the global economy and investment sentiment in 2022 be remembered? And who will emerge as the true winners after it ends?

The investment market in 2022 is on the brink of hyperinflation, a major shock, fears of a recession, and political instability.
But as economic crises recur, there is no such thing as a 'permanent decline'.
This challenging season of low liquidity and stability could actually be a golden opportunity for investors with the heart of the beast.
The reason they can find the perfect investment timing even amidst the dark clouds of recession is because they possess investment acumen, that is, a "unique perspective on reading the macroeconomy" and "economic creativity."


In this book, Sangmi Sang, author of the best-selling book "The Sense of Money" and an economics expert, provides an engaging overview of the economic knowledge essential to developing these two investment acumen, using key indicators and various investment cases.
This methodology allows for "winning investments" even in times of high exchange rates, high inflation, and high interest rates, and will boost investment confidence even in times of heightened macroeconomic uncertainty.


This book also contains the author's vivid story of his dark years in investing and how he overcame them.
He spared no expense in sharing his practical know-how, including how his life's path changed due to a reckless investment in his early years, the painful times he endured through financial hardship, and the great turnaround he achieved through his "last investment study of his life" after much struggle.
"Investment Sense" will help individual investors, who are facing more difficult times than ever before due to debt-based investments and short selling, develop the insight and courage to survive in the market and seize new opportunities.

Capital has a law of gravity.
The fact that large capital absorbs small capital and generates excess returns is similar to the physical law of gravity, which attracts heavy objects.
Big capital in the global stock market is a kind of 'smart money'.
Smart money carefully invests money when others are not paying attention, waits for an opportunity, and then creates a bubble at a specific point to maximize profits.
It may seem like it's moving stealthily, but smart money often leaves footprints on key indicators.
Big capital rotates between bonds, stocks, raw materials, agricultural products, foreign exchange, and Bitcoin to maximize profits.
Capturing the subtle market changes at that time is ‘creativity in the market.’
By observing the market and understanding the subtle trends, you can generate higher profits than others.

---From Chapter 1, “Why Economic Creativity is Important in Investment”

Because the fiat money system requires increasing debt to sustain the economy, the benchmark interest rate has been steadily falling for the past 30 years.
This shows a similar trend to the past base interest rate situations in Japan and Europe.
The downward slope means that while the Fed is raising interest rates rapidly, including through giant steps, to curb high inflation, it will be difficult to maintain high interest rates for as long as in the past.
The dot plot released after the June FOMC meeting shows that the base interest rate will be raised to 3.5% by the end of the year.
However, considering the past trend of the base rate and its gradually decreasing slope, it is highly likely that the debate over adjusting the pace of this rate hike will begin around 2.5%.
In particular, attention should be paid to the rapid decline in the money supply growth rate mentioned earlier and the resulting possibility of downward stabilization of inflation.

---From "Chapter 2: Have a Unique Perspective on Reading the Economic Cycle"

Every Sunday evening and Monday morning, I search for news on portal sites using the keywords "shortage" and "supply shortage."
A shortage of a particular product or item means that demand exceeds supply.
…If you read an article about a semiconductor shortage and invested simply because you thought about memory semiconductors, DB HiTek, which specializes in 8-inch wafers, would not come to mind.
If you've been searching for news about shortages and supply shortages every week and have found a specific item, product, or part, it's time to get the facts straight.
We need to figure out exactly what materials and products are in short supply and why, so we can estimate which industries and companies will benefit.

---From "Chapter 2: Develop a Unique Perspective on Reading the Economic Cycle"

As the base interest rate rises, bank lending rates naturally rise as well.
Accordingly, there is a growing possibility that the credit risk of young people who invested in real estate by borrowing excessively to keep up with the rapidly rising apartment prices in 2021 will increase.
With home mortgage interest rates approaching 7% per year, those who took out loans to purchase homes must be incredibly worried.
Unfortunately, if this situation actually occurs, the problem of bad debt collection could come to the forefront of the economy.
In that case, we should pay attention to the possibility that the performance of credit information companies that rely on this as their main source of revenue will improve.
Among credit information and debt collection specialists, KOSDAQ-listed 'Korea Credit Information' is noteworthy.
Considering the publication date of this book, the stocks above may already be past their optimal investment time.
Nevertheless, the reason I am introducing it in the book is because I want to teach you how to develop the insight to read the world's trends ahead of others and utilize issues to select stocks.

---From Chapter 3, “Developing Imagination to Find Stocks”

As the dollar strengthens, the value of the won falls (the won-dollar exchange rate rises), putting the Korean stock market in an unfavorable environment.
The targets of investment, borrowed from American banks, were not only commodities and raw materials, but also entire asset markets around the world, including Korea.
Therefore, this is an unavoidable phenomenon.
The end of the inflation-driven stock market volatility in the first half of 2022 is also likely to be the point at which the dollar index ultimately reverses its downward trend.
A stock can't beat the market.
The market is like a vast ocean.
If you want to know when the gentle waves will turn into a storm, it's better to watch the dollar index than to consult a fortune teller.
For this reason, I am paying close attention to the trend of the dollar index.
---From Chapter 4, Trust My Judgment, Not That of an Expert

The chart indicator I use most often is the RSI index.
This is an auxiliary indicator used in technical stock price analysis, and its use is limited to stocks that have been extensively studied and thoroughly reviewed. The RSI (Relative Strength Index) is a method of calculating the average of the upward and downward price changes over a certain period of time compared to the previous day's price. A significant upward change is considered overbought, while a significant downward change is considered oversold.
When buying and selling stocks, you want to buy at a low price and sell at a high price.
Only time will tell whether the current stock price is at its peak or its bottom.
But after some time has passed, the buying and selling points will have already passed, so it will be meaningless.
So, when thinking about the future, the most reasonable way is to analyze and infer stock price trends up to the present.
In that respect, utilizing RSI is a pretty good method.

---From Chapter 6, “Seizing the Perfect Buy and Sell Timing”

There were two important media reports that indicated the future direction of Hyundai Motor Company's corporate growth.
One of them is about registering as a ‘period telecommunications business operator.’
Hyundai Motor Company is not a large company that operates like an octopus, but it is engaged in a period telecommunications business similar to that of a budget phone company.
The second is the announcement of a strategic partnership with Naver.
This means that following the telecommunications business, Naver will join hands in the mobility business.
These two articles came out just before full-scale production of electric vehicles based on E-GMP.
The important thing here is to understand 'why Hyundai Motor Company is trying to do this business.'
Economic creativity is not about finding something from nothing, but about finding scattered points and connecting them to see what others cannot see.

---From "Special Appendix: Rising Smile's 2023 Investment Ideas"