''The Intelligent Investor and The Warren Buffett Way are regarded by many as the two most important books written for equity investors. Lars Tvede s Business Cycles is the best ever written book about business and investment cycles. Reading this book will enhance investors ability to understand price swings in bonds, commodities, equities and real estate.'' Jorgen Chidekel, President and founder of ProValue AG

''The title Business Cycles may sound like a scientific lecture on high standing economic topics. In fact, the book addresses a series of economic themes and their historic evolution. Written in a fresh and catching language, the recounts are putting the reader s mind into the settings of the time. This book is definitely a value, great to read and is fun at the same time,, for laymen and experts.'' Thomas K. Escher, Vice Chairman Wealth Management, UBS

''As a venture capitalist I often find myself exposed to the fluctuations in the general economy for both the good, and the bad. Lars Tvede s book is the best explanation of these cycles that I have ever read. His approach is clear and entertaining, yet without being simplistic. Its a great read. I strongly recommend this book to anyone relying on business cycles in their daily lives.'' Frank Ewald, Partner IVSA/S Denmark

Acclaim from previous editions of Business Cycles

''Economic theory does unfortunately not always follow a path of continues progress, where the latest theories always are better than the previous. Good theories are often put aside to leave space for some new ones that are vastly inferior. Valuable knowledge was, for instance, thrown overboard with the Keynesian revolution . It is therefore well justified that Lars Tvede has included the history of theories; from the Sun King until present day, and that he emphasizes this in his book. That we are not only given these theories, but that these also are explained through instructive anecdotes about the economists and the environment that influenced them is only enhancing the understanding in an interesting way.'' Anders Fogh Rasmussen, Prime Minister, Denmark