Intermarket Trading Strategies Wiley Trading
April 6, 2009 by Smart Investing · Leave a Comment
Intermarket Trading Strategies Wiley Trading
This book shows traders how to use Intermarket Analysis to forecast future equity, index and commodity price movements. It introduces custom indicators and Intermarket based systems using basic mathematical and statistical principles to help traders develop and design Intermarket trading systems appropriate for long term, intermediate, short term and day trading. The metastock code for all systems is included and the testing method is described thoroughly. All systems are back tested using at least 200 bars of historical data and compared using various profitability and drawdown metrics.
User Ratings and Reviews
5 Stars A must read for every serious trader.
This book is a must read for every serious trader. It is an original work and a very serious method to clarify intermarket relationships, especially in volatile markts, like these, where even seasoned traders start to doubt their abilities to navigate through them. What I like about it, is it’s scientific approach, using vast amounts of data to prove it. A very helpful introduction makes it easier to follow the rest of the book. Excellent work.
5 Stars Title1
This book contains statistically valid methods that should be in the arsenal of any serious trader in today’s marketplace.
5 Stars Intermarket analysis
I am convinced that this book should be read by every serious trader or investor, fundamentalist or technician, dealing in stocks, bonds or commodities.
It is clear written, brief and original; by far the most useful and comprehensive for Trading ETF, Forex ,Stocks and futures with metastock code.
I think this book is one of the best on the subject of Intermarket analysis , functional especially for trading system development in today’s volatile markets.
5 Stars A serious book for ever serious trader !
The Intermarket analysis is poorly covered in current literature, with few books of historical data and boring details.
Instead in this book the Author, who has mastered the Intermarket analysis, shares discoveries on market correlations, and helps reader to develop indicators and strategies for Etf, Futures and Stocks.
This book makes easier to understand today markets, and I suggest it for intraday and both long and short term trading. It is not for fiction traders who bet on markets direction, but for people really trading their own accounts, studying a lot of technical analysis and pondering experts ideas.
The book is written in plain English, contains useful info on international markets, and a lot of MetaStock (MS) codes to help users to design (or improving their) trading systems, even you aren’t the best programmer. Users of other technical software can easily develop their trading strategies, because in the Appendix there are the MS formulas and Test Specifications for all systems.
Reading this book grow up your fever to go to your pc for studying the correlations Author disclosed, and training with his trading strategies !
Minus : discussion on fuzzy logic and genetic algorithms are very introductory (but these are very specific topics). Author limited his Intermarket analysis to major markets, and not all exchange products are covered.
Plus : the best book on the subject I ever red : the Intermarket concepts behind trading ideas are well explained. Trading strategies are deeply tested. Author insights help to really make money in today markets. Good value for price : many systems described would cost hundred dollars to buy !
Quantitative Strategies for Achieving Alpha McGraw Hill Finance and Investing
April 6, 2009 by Smart Investing · Leave a Comment
Quantitative Strategies for Achieving Alpha McGraw Hill Finance and Investing
Alpha, higher-than-expected returns generated by an investment strategy, is the holy grail of the investment world. Achieve alpha, and you’ve beaten the market on a risk-adjusted basis. Quantitative Strategies for Achieving Alpha was borne from equity analyst Richard Tortoriello’s efforts to create a series of quantitative stock selection models for his company, Standard & Poor’s, and produce a road map of the market from a quantitative point of view.
With this practical guide, you will gain an effective instrument that can be used to improve your investment process, whether you invest qualitatively, quantitatively, or seek to combine both. Each alpha-achieving strategy has been extensively back-tested using Standard & Poor’s Compustat Point in Time database and has proven to deliver alpha over the long term. Quantitative Strategies for Achieving Alpha presents a wide variety of individual and combined investment strategies that consistently predict above-market returns. The result is a comprehensive investment mosaic that illustrates clearly those qualities and characteristics that make an investment attractive or unattractive. This valuable work contains:
- A wide variety of investment strategies built around the seven basics that drive future stock market returns: profitability, valuation, cash flow generation, growth, capital allocation, price momentum, and red flags (risk)
- A building-block approach to quantitative analysis based on 42 single-factor and nearly 70 two- and three-factor backtests, which show the investor how to effectively combine individual factors into robust investment screens and models
- More than 20 proven investment screens for generating winning investment ideas
- Suggestions for using quantitative strategies to manage risk and for structuring your own quantitative portfolios
- Advice on using quantitative principles to do qualitative investment research, including sample spreadsheets
This powerful, data intensive book will help you clearly see what empirically drives the market, while providing the tools to make more profitable investment decisions based on that knowledge–through both bull and bear markets.
User Ratings and Reviews
2 Stars Not a book for professionals
The author actually stated in the book that this is not a book for “Quants”, but I read that sentence only after I bought the book.
This is a book with a compilation of 100 or so back-testings. For almost any professional quant, he/she would have probably done back-testing on 95% of them. There isn’t much of new idea in the book - all factors are pretty standard and have been around for a long time. Very little recent academic literatures have been included, if at all.
The author overly used top-bottom quintile as pretty much the only back-testing methodology. We all know that many factors don’t really have the linear payoff pattern, i.e, middle quintiles could outperform both top and bottom quintiles.
Strategy turnover isn’t covered in the book. The author assumed annual rebalance, so turnover is probably not much of a concern. Most professional quantitative managers probably would do at least monthly rebalance, if not daily or weekly… at least revisit your positions on a much higher frequency if not more frequent rebalance.
There isn’t any sophisticated way to build a multi-factor model other than the traditional “widsom” approach definited by the author.
Overall, if you want a book that gives you an overview of typical and traditional quantitative factors, this is probably a book you need. If you are quant, most likely you don’t need to buy this book.
5 Stars Solid and useful research
Richard Tortoriello leaves no stone unturned in a thoroughly documented search for strategies that allow portfolio managers to deliver market-beating returns. The book offers something for analysts of all levels. By employing a building-block approach to quantitative analysis, Tortoriello provides a “how-to” manual for the novice. By providing detailed, backtested results of more than 20 proven investment screens for generating winning investment ideas, based on 42 single-factor and nearly 70 multi-factor models, Tortoriello presents the experienced quant with a host of ideas to improve their own modeling.
5 Stars Excellent Book-Recommended
This book is a breath of fresh air in the investing world. Written in easy to understand language backed up by extensive research, it provides a working investment strategy for different equity market conditions for a range of investors, from the inexperienced to the very experienced. I have read a lot of investment books in my time, and this is one of the best, highly recommended.
Nothing Down for the 2000s Dynamic New Wealth Strategies in Real Estate
April 6, 2009 by Smart Investing · Leave a Comment
Nothing Down for the 2000s Dynamic New Wealth Strategies in Real Estate
With more than a million copies in print, Robert Allen’s Nothing Down for the ’90s has probably helped more people achieve success in real estate than any book in history. Countless numbers of his readers are now financially independent and many actual millionaires attribute their wealth to his techniques. Why has this blockbuster bestseller been so successful? The answer is simple: it works! Now, in one of the most practical books you’ll ever read, Robert Allen has created effective new wealth strategies for investing in real estate.
Real estate remains the one reliable investment in which profits can be made consistently, no matter where you live. Whether employment figures and stock prices are high or low, the real estate market never dries up — it is one of the most dynamic income-producing vehicles ever created. The demand for housing will continue to be strong in most areas of the country for the foreseeable future. There will, of course, always be plenty of foreclosures, which are great opportunities to purchase properties cheaply. And, finally, mortgage qualification today is simpler than ever, with new mortgage packages that did not even exist twenty years ago.
Nothing Down for the 2000s shows you how to locate the best buys, deal with real estate agents, and manage properties, all with little — or no — money down. Discover step-by-step techniques and dynamic strategies to:
• Use real estate to build monthly income
• Finance bargain properties for equity or cash flow
• Guarantee and secure your retirement
• Find and profit from foreclosures before they are publicly listed
• Sell and trade for maximum gain
• Increase property value
• Use owner financing to create opportunities
• Obtain direct, legal tax cuts
• Profit from conversions
• Develop effective negotiation techniques, and much more
Excellent for beginners or experienced investors, Nothing Down for the 2000s is the key to generating low-risk, high-profit wealth and to a potential future of security and financial independence.
User Ratings and Reviews
4 Stars Great Concepts
I read this book a couple of times just to make sure I had the fundamentals right. While Robert Allen has many great ideas and ways to buy real estate with no money down, I did find it a little misleading. The bottom line is that there are many fine ways explained in this book about how to transact a purchase without initially taking any money out of your own pocket.
In theory, this is great. However, most of us just starting out do not have the necessary connections to do what Mr. Allen proposes in his book. Nothing Down is still well worth the reading if you are serious about expanding your portfolio. I do believe that if each step is done as Robert has explained, then you will reap the rewards.
Jim Fargiano, author of The Spoken Words of Spirit: Lessons From The Other Side
5 Stars Build Your Wealth With Real Estate
Robert Allen’s book Nothing Down for the 2000’s is a key tool for any investor to have in their personal ‘toolbox’. It is full of useful information, strategies and techniques to successfully invest in real estate using little or none of your own money. I have personally purchased over $20 million worth of real estate using “No Money Down” strategies, solid proof that this works! Check it out at www.MillionaireRiches.com
4 Stars Teaches a lot
I can see why people are successful reading this book. Interestingly, he begins with the real issue in one’s life - what do they really want to do with their lives?
4 Stars It’s a start!
There is really no middle-ground when it comes to Robert Allen. You either like his work or you think that his concepts are risky and/or far-feteched. I personally like Allen’s approach to real estate from a novice standpoint. I have utilized many of his techniques to success. However, I do caution, once you get momentum, go to the next level and make money on the buy and continue to educate yourself on the right way to remain in real estate for the long-term. This will mean studying markets and having a long-term and short term strategy. This will mean that traditional closings have the place and creative real estate does not equate to illegal if done the right way with the right team - and can keep you out of trouble with your accountant. This will mean knowing the true cost of money (time value, strategy for each property, situation of the Seller, your situation and access to resources, etc.)
As time progresses, I suspect that many of these practices will be regulated and closely watched. However, don’t blame Allen - there are many financing structures that get sellers into becoming motivated thus these techniques are executed. Play close attention to his guidance on commecial properties, cross-collaterization, dream-teaming, and subject-to/lease option structuring - these deals are made every day.
I never had a problem with Allen and as a matter of fact consider him important to the “master of your fate” outlook. He is now more or less an information guru because like so many before and after him - real estate is the impetus for improving your financial state to (a) start the million dollar business; (b) divesify and partner into different and larger properties, and (c) meet those who exercise advanced, long-term real estate strategies that lead to successful careers.
Oh — let it be mentioned: Robert Allen is not “breeding competition.” He is well-past these stages, but is willing to share on some of his novice techniques to get you started.
Good Read - Supplement it and Educate Yourself and you all will be well if the focus and desire is there. If not: Continue to blame Allen for trying to share pearls of wisdom at a modest cost.
3 Stars Getting Started in Real Estate
This was an all around decent book for someone desiring to get started in the real estate business. It has 30 short chapters focusing on getting into the real estate business with no money. One of which is called tapping the equity in your home. Nothing really new there. The book contains some good concepts but a lot was just common sense. If you haven’t bought real estate before and don’t no much about financing then this will open up your eyes to some concepts that you may not have thought of before. There is a chapter on why you should own property. One on negotiations, one on using partners and another on overcoming roadblocks to your success. There is also a chapter on how to retire in 5 years. All in about 280 pages that will go by quick.
I think the most important thing that one could recieve from this book is that anyone can do it. It doesn’t take a masters degree in economics to do this stuff. I think this book can give the reader a good basic understanding of how real estate and rental property works so they too can get involved. Just remember that positive cash flow is a must!
Ready Set Retire Financial Strategies for the Rest of Your Life
April 6, 2009 by Smart Investing · Leave a Comment
Ready Set Retire Financial Strategies for the Rest of Your Life
Foundation and Endowment Investing Philosophies and Strategies of Top Investors and Institutions Wiley Finance
April 6, 2009 by Smart Investing · Leave a Comment
“…informative and entertaining…an excellent resource for anyone who is considering a career move into this field or who has not-for-profit organizations as clients.” (Financial Analysts Journal, July/August 2008)
“…informative and entertaining…an excellent resource for anyone who is considering a career move into this field or who has not-for-profit organizations as clients.” (Financial Analysts Journal, July/August 2008)
User Ratings and Reviews
5 Stars Outstanding and Enjoyable Book on Investment Policy and Practice
This is an excellent and enjoyable text on investment policy and practice for endowments and foundations. I recommend it for any student or practitioner of institutional investments, whether they are focused on endowments or elsewhere. We all have something to learn from the wit and wisdom of this book.
Many investment books are either are too simplistic (not that it’s rocket science) or so technical and lost in the numbers that they miss the gestalt of successful investing. This narrative does quite the opposite. The authors open with an excellent summary of the history, circumstances, and essential elements of endowment and foundation investment management. They follow with conversations with a dozen of the leading CIO’s in the field, offering the reader real insight to the unique perspective of each institution, the passions and interests that make each CIO tick, and a better understanding of why successful investing doesn’t come from a ‘cookie cutter’ approach. They close with a helpful summary of what we’ve learned along the way.
When you are done, you feel like you have enjoyed real conversations with some of the best practitioners in the field, and have a better sense of the depth, character, and focus that have made them successful. You won’t be overwhelmed with jargon, just immersed in the real gestalt of successful investing. Sit down with this well written book, a glass of milk, and a warm cookie, and enjoy the conversation.
5 Stars This book is a must read for all institutional marketers.
This book is a must read for all institutional marketers. I learned something new on every page. It was of particular interest to me to learn about the early work experiences of the featured CIO’s and how they made it to the top of their field. I found the book well written and easy to read. Well done.
5 Stars Excellent profiles of top endowment/foundation Chief Investment Officers.
“Foundation and Endowment Investing” by Larry Kochard (himself a top Chief Investment Officer) and Cathleen Rittereiser is a very well written and valuable book. While providing an excellent general overview of how the investment landscape has changed for some of the most innovative investors today, I found the most interesting and valuable section to be the profiles of 12 of the top endowment and foundation CIOs. The authors obviously spent hours interviewing and gaining insights from these titans of the investing world, resulting in a very readable and valuable book.
5 Stars Candid insider perspectives on inner world of endowments & foundations
Clearly Kochard and Rittereiser know how to ask CIOs important questions as they themselves are insiders in the foundation/endowment field. Their years of industry experience and network with these accomplished CIOs has made reading their book an eye-opening experience. The interviews are conducted with highest quality that are conducive to bringing out sharpest, practical and candid observations by these industry-recognized CIOs. I also think that the writing is sharp and clear-cut that help to drive home key takeaways for readers . Many investment professionals, whether or not working in the endowment/foundation field will benefit from reading the book to have a grasp of today’s fast-changing and more complexed global investing. I do hope to see sequels from the two authors as they have proven to work together so well.
5 Stars Important & Rare Examination of Endowment & Foundation Investing
Authors Larry Kochard and Cathleen Rittereiser have published an instructive and rare look behind the scenes of a collection of elite endowments and foundations. Their important text enhances and expands the good work of David Swensen in “Pioneering Portfolio Management” by revealing the thoughts and investment processes of a dozen accomplished Chief Investment Officers. “Foundation & Investment Investing” will be valuable for a broad universe of readers including CIOs, board members, investment staff professionals, portfolio managers and analysts, fund marketing professionals, business professors and their students, and individual investors. As foundation and endowment investment offices can be challenging to understand, I have bought additional copies for my colleagues in our equity hedge fund. I have also bought copies for a few individual investors who have asked for my guidance on managing their retirement portfolios in this increasingly volatile and complex investment environment. The final chapter observes that the CIOs interviewed are “all likable people”. I agree, and enjoyed the sharp and candid insights of each of the CIOs. The interviews with Mark Yusko and Alice Handy were particularly enjoyable and instructive.
As CIO of Georgetown University and investment management executive of Alternative Asset Managers, respectively, the authors’ historical perspectives and informed commentary are interesting, and their organizations are lucky to have them.
I hope Kochard and Rittereiser are interviewing another dozen CIOs for a sequel to this excellent and important investment management book!
