Product Description
Official 2010 Price forecasts for 180 US Stocks, 59 UK Stocks, and 25 Forex Currency Pairs. Provided by Wall Street's Largest Technical Chart Analysis Firm.
Free Gift: Hedge Fund Stock & Forex Chart Indicator. ... Read more

Product Description
Do you trade stocks? Do you want to make more than you do now?

In this course we'll show you how to add an extra ZERO to your paycheck by using Insider's Tips, Tricks and Techniques that are PROVEN winners - year after year!

We'll guide you through the process of going from beginner to expert in a matter of days. This may be the last book on trading stocks you'll ever buy!
... Read more

Product Description
A powerful new way to navigate today's unprecedented market conditions

"Bill Williams' pioneering application of chaos theory to the financial markets is leading technical analysis into the twenty-first century and beyond. New Trading Dimensions presents a complete, highly original, and intriguing trading method with clear, detailed illustrations, and challenging practice pages. Bill's wisdom, technical expertise, and skillful teaching style make this a revolutionary must-have new book for stock and commodity traders." —Tom Bierovic, Product Manager for User Education, Omega Research, Inc.

"Bill hits the nail on the head. The essence of successful trading is a combination of knowing who you are and allowing the market to reveal its secrets. Bill Williams has the gift of explaining these concepts better than anyone I know. This is a compelling work that belongs in every trader's library." —George Angell, author, Profitable Day-Trading with Precision

"Bill Williams is one of the great educators of our time. He freely shares his knowledge and experience in this inexpensive book. This book is required reading for all market technicians. The principles are sound as we have tested them with our software." —John Hill, President, Futures Truth, Co.

"Bill Williams has always been an excellent teacher, taking complex terms and concepts and translating them into a clear, commonsense approach to trading. This book provides a complete trading program that reflects Bill's years of wisdom and experience in the marketplace." —Darrell Jobman, Editorial Consultant and former Editor-in-Chief of Futures magazine

"Bill uses the hidden structure of chaos theory to skillfully guide the reader to the correct psychological profile for success in trading. Bill then goes on to provide a comprehensive structure, a trading paradigm, directly derived from his research and considerable trading experience. You will be challenged, interested, and have a mind-opening experience that's even fun." —Joe DiNapoli, author, Trading with DiNapoli Levels

As today's market environment continues to change dramatically, more and more traders are discovering that traditional forecasting methods—pure technical analysis and fundamental analysis—just do not work. Sending out contradictory messages, these opposing schools of thought leave investors baffled about the future direction of the market, and consequently, at a loss as to how to tailor their trading systems. As a result, many practitioners have now turned to a new forecasting "cocktail" that combines traditional charting methodologies with chaos theory and human psychology. In this groundbreaking book, Bill Williams, a seasoned trader at the forefront of this dynamic new approach, explains exactly what it is, how it works in current stock and commodity markets, and how to use it to your advantage.

Based on human nature rather than the vagaries of the market, the new trading dimension works on the premise that we trade not the market, but our own belief system. By assessing what your personal biases are, you can determine how they influence your ultimate success—or failure—and then adjust your trading strategies accordingly.

Written by an expert in the field who has been featured in Futures, Worth, Success, and other prominent publications, New Trading Dimensions takes the latest in scientific knowledge about human behavior and applies it directly to the fields of stock and commodity investing and trading. With straightforward guidelines, it shows you how to adopt the right attitude toward the behavior of the market and use the right tools (ATTITOOLS) for profitable trading. Packed with practice exercises, specific applications to different types of investments, and a detailed review of important market signals, here's where you'll learn how to:

• Discover what the market wants and align your own beliefs with the direction of the market
• Apply chaos theory to trading and investing
• Use Williams' "Market Alligator" for analyzing and profiting from the markets
• Employ a multidimensional trading program that includes such tools and techniques as fractals, oscillators, AC signals, psychological zones, and balance lines
• Exit trades in a timely fashion to reap high returns

Drawing on the author's more than forty years of experience as both a successful trader and seasoned trainer, this invaluable guide offers a breakthrough method that has proven its ability to turn investors into consistent winners. ... Read more

Customer Reviews (39)

Excellent Book
The ideas presented in this book without doubt put you on the right side of the market.A must read.

A must have masterpiece
It does not matter what people say, you MUST read this book and draw your own conclusions.And I'm pretty sure that it will change your life.

It is right but difficult to make profit
I was very interested in Bill Williams's trading method, because I have used Metatrader4 to treat currency pairs. MT4's technical analyses have Bill Williams's alligator and AO and AC and others in default setting. I read this book and try to do exactly and realized that it is difficult to make profit in flat and corrective triangle waves. To avoid this waste of money, you must understand Elliot wave principle or keep eyes on the chart. But once a trend start, this method makes profit certainly. Totally make a little profit unless lost compensation at all in flat double and triple three.

If you use the alligator method of trading:Vote For - else if not- Vote Against
1. Everything in the Universe follows the path of least resistance

2. An always underlying and usually unseen structure determines the path of least resistance.

3. The always underlying and usually unseen structure can be discovered, and it can be altered.

4. The four largest money gatherers and distributors in the world are: war, medicine, insurance, and religion.

5. Traders who let the new incoming information organize their trading will be in sync with the market and thereby will be winners.

6. "The market is infinitely complex. Freedom and free will-strange attractors-prevail over rules and determinacy.

7. Fractals are the way markets organize themselves.

8. Everything that exists is drawn out of this quantum soup by attractors. All outer phenomena are governed by four attractors: point attractor, cycle attractor, torus attractor, and strange attractor. Point attractor lives in the dimension of a line, which is made up of infinite number of points. Whenever, a point attractor is governing, a person is drawn to one particular activity, or repelled from another. The cycle attractor is back and forth movement, like a pendulum or circling magnet. It is characterized of a range bound or bracketed market where the price moves up and down in a range over a period of time. One activity automatically leads into another activity. In grain markets, one year of high prices produces more plantings in the next spring, which produces lower prices. The cycle attractor produces a structural tension between the two poles and opens the way for integration between the two opposites. The torus attractor begins a complex cycle that repeats itself as it moves forward. If the bond interest goes up, it attracts mre investors. Bond prices go up, which lowers the interest rate and makes bonds less attractive, and so on. Third dimension, predictions are more precise, higher degree of irregularity, patterns more complex, and repeating function. Strange attractor becomes self-organizing. One characteristic of strange attractor is its sensitivity to initial conditions. The slightest variation in the beginning can make enormous differences in the end result. The strange attractor allows us to participate in the ebb and flow of the market and of life.

9. Bill Williams trade approach involves five perspectives: 1. Momentum 2. Change in the speed of current momentum 3. Appearance of initiating fractal 4. zonal influences 5. balance-line differentials.

10. To win consistently in the markets you must get to know them and how they process incoming information. Get in tune with the market and change your belief about the market and the world.

11. One of the keys to profitable trading is to take only those trades with the most potential and stay out of situations where there is marginal potential.

12. Most of the time the market goes nowhere and about 15 to 30 percent of the time does the market trend. We don't want to waste time entering and existing the market without profiting, if the market is going nowhere then opportunity is going nowhere.

13. Alligator is blue line (13 bar moving average), red line (8 bar moving average offset 5 bars into the future), and green line (5 bars moving average 3 bars into the future). Blue is the jaw, red line is the teeth, green is the lips the balance line. When all three lines are intertwined the alligator is sleeping, range bound market. We don't want to loss money during a range bound. All five highs or lows should be on the same side of the blue balance line. The stop to exit is just inside the red line (teeth).

Extremely specific strategies and tactics involving MACD and Moving Average Oscillator
If moving average oscillator is part of your trading plan, this book will help tremendously. This book has very specific strategies and tactics concerning moving average oscillator usage. Although they are not meant to be mechanized, they are systematic enough to be used in very structured way.
... Read more

Product Description
Exchange-Traded Derivatives provides an overview of the global listed futures and options markets, and how individual exchanges and products are adapting to a new operating environment - an environment characterized by rapid, almost continuous, change. This book serves as an ideal resource on the 21st century listed derivative markets, products and instruments.

Divided into three parts, Exchange-Traded Derivatives begins by providing an overall understanding of the marketplace and the forces that have, and are, altering the operating environment - stressing how exchanges need to change in order to cope with the challenges. The author then provides a comprehensive description of leading established exchanges, detailing their origins and structure, range of products and services, strengths and 'weaknesses'. The book concludes with a look at emerging marketplaces - those in developing countries as well as new "electronic" platforms - that are likely to increase in importance over the coming years.

Exchange-Traded Derivatives is a valuable reference for fund managers, corporate treasurers, corporate risk managers, CFOs and those seeking a detailed guide to the world's derivative exchanges and products.
... Read more

Product Description
An unparalleled opportunity to learn the investment game from the ground up, from two of today’s most respected traders and investment coaches

An Indispensable Companion to The Stock Market Course

George Fontanills is one of the world’s most respected traders and one of the most sought-after advisors to top financial institutions and trading firms. But he was by no means an overnight success. Fontanills learned the art and science of trading the markets the hard way–through a difficult and costly series of trials and errors. One of the most important lessons his early trading experiences taught him was that the first job of every novice trader is to acquire a thorough education about the ins and outs of the markets.

The Stock Market Course Workbook gives you the basic knowledge and skills you need to realize your dreams of success as a stock trader. In plain English, George Fontanills and expert Tom Gentile familiarize you with the ins and outs of the markets. They clearly explain all key stock market terms and procedures, assess the relative risks and benefits of stock investment, and even help you determine whether or not you are suited financially and psychologically to be a market player. The Stock Market Course Workbook then allows you to hone your knowledge with practical exercises to help further your understanding, as well as test and apply what you have learned–before you put your money in the market. The workbook includes a complete set of questions, problems, exercises, and an answer key.

The next best thing to having a top investment coach by your side every step of the way, The Stock Market Course Workbook helps you transform your dream of success as a stock trader into a golden reality. ... Read more

Customer Reviews (3)

Better Together
Like Amazon says - this book is better together with The Stock Market Course (main book.)It provides real case studies and helps test the knowledge you WILL learn if you read the other book - you can't skip an entire semester and show up for the final expecting to know the answers. Take mine and Amazon's recommendation and get both of the books together!

Terrible Book
It is a waste of money, practically useless. Wasted my money, may it not waste yours.

Goes with the Stock Market Course Book
This workbook should only be purchased if you buy the main book.It is designed to test your knowledge after reading the Stock Market Course book.

Great idea.Helped me refine my knowledge. ... Read more

Product Description
Based on a study of successful stocks from 1953 to 1990, this book aims to help the reader to understand the way the stock market works and gives hints on how to speculate shrewdly. The book includes a list of the 18 most commonly made investment mistakes.Amazon.com Review
From the school of unemotional investing comes the classicHow to Make Money in Stocks, by Wall Street analyst andpublisher William O'Neil. Readers new to securities will find it anexcellent primer, one that relies on time-honored indicators such asquarterly earnings, market capitalization, and daily indexes. O'Neil'sstudy of winning stocks stretches back to the 1960s, and he shares hisinsights here, describing what characterizes a growth stock, when tocut your losses (at 7 or 8 percent, no more), and how to spot a markettop.

The techniques in How to Make Money in Stocks are hardlyrevolutionary, but therein lies their strength, as O'Neil claims hisis "a winning system in good times or bad." Investors interested inNet stocks might be disappointed--the author's first rule is that acompany must show a pattern of growing profits, which disqualifiesmany dot coms. (Try Rule Breakers, RuleMakers for a different take.) O'Neil's approach to stocks is,above all, rational, and he pays little heed to market hype.

Those new to investing would do well to read this book beforeembarking, and even more seasoned traders may find How to MakeMoney in Stocks a refreshing return to basics. Markets may swingbull and bear, but O'Neil promises to stand firm. --DemianMcLean ... Read more

Customer Reviews (226)

So So
I found this book misleading and mostly unhelpful. I felt compelled to write a review that balances out the bogus 5 star reviews planted by the author or publisher.

It's not all bad, but essentially, it comes down to:
1) Buy only newer innovating growth stocks where earnings have been increasing 50% each quarter (Well gee that is so easy to find)
2) Avoid solid blue-chip companies paying dividends.
3) Use chart formations to figure out when to buy. He provides examples of chart formations but does not provide any interpretation as to why they work. Also, looking at his example charts, the chart patterns he points out are not always clear cut and obvious. In fact, sometimes on the same chart there will be a similar formation and it makes me wonder, "Well why not buy over here instead? How are these two patterns fundamentally different?"
3) Sell all losers at 7% or 8%
4) Don't use limit orders.
5) Stay out of the market during bear markets.
6) Buy near the stock price high.

He goes through lists of stocks that increased hundreds of percents, but so what? Hindsight can always produce stock charts like this. The first 100 pages are stock charts of various companies from the 20's-80s that doubled or tripled in a few years. Supposedly we are supposed to study these to see how chart formations produce winners. And how often do these chart formations show up? He provides no answers, but it appears to be infrequently, especially when he shows a chart spanning 5 years.

Overall, his system seems to lead to stocks that are "Hot" at the time. Stocks that tend to have big swings up and down such as Apple (which he mentions in several places in this book).

Probably the only solid piece of advice is the stop loss, but these can be problematic at times, especially for volatile growth stocks that he recommends. Supposedly buying at the 'right time' with the right chart formation will virtually never hit your stop loss since almost always it runs up 20% from there, but it appears those lovely chart formations don't show up too often.

Oneil doesn't provide proof (brokerage statements, or trade confirmations) that he has actually made money using his own "system."

He loses credibility when he says to stay away from options because they are too risky. If used properly, options can be safer than buying the actual stock.

This book is like 450 pages and it could be condensed to about 200 if he would cut out a lot of the fluff.

He pushes the services of Investors Business Daily so much, I was thinking that I should have gotten the book for free for all the advertising I was exposed to.

Sound Advice
The book offers a clear system for stock selection and disposal.It is indeed a fascinating read.However, it contains too much information to allow the read to remember and apply all of it.

There are other successful investing systems.The key is to apply the appropriate system to a particular stock.

"How to Make Money in Stocks" does offer stellar warnings.One must be highly disciplined to succeed.One must let the market dictate when to buy and sell.One needs to ignore wishful thinking and sentimentality.These warnings apply to all systems of investing and trading, and therefore the prerequisite in implementing any system.

The book does not measure up to how professional traders trade
This book is really basic and it will help you get an understanding on how to buy and sell stocks. However, advanced or even mid-level subjects are not covered at all. Trading is not that simple. Don't let anybody fool you. So you need to study and learn from traders like Ed Seykota, Linda Raschke, Toby Crabel. These are professional traders. Check on EBAY if there is anything for sale from them. Buy it. Study them. They dont have time to write books because trading is their job. So yes, this book is ok primer, then move on to study the real traders

Outstanding.
This is my second reading (the other was the 2nd edition) of How to Make Money in Stocks within two weeks. What is different this time is that I made extensive notes from each chapter and typed them up. Now, I will begin studying the CAN SLIM system and start applying them to see if it works. The biggest improvement of this book from the 2nd edition is the introduction of Investor's Business Daily newspaper and website and how they work. I just recently enrolled myself for a free trial for both, and I like the website but haven't received a copy of the paper yet. So far, I really like the book, and I can see the wisdom contained within the book. I haven't yet begun buying stocks on a full-scale because I want to be a student of the market first in order to arm myself with necessary knowledge and tools. All in all, I am glad to have discovered How to Make Money in Stocks the first time around at a cheap price which was a buck and the more I read the book, the more informative it is.

A comprehensive (and demonstraby successful) investment approach - beyond mere stock screening
The CANSLIM stock investing methodology outlined in "How to Make Money in Stocks" is a time tested method that incorporates how the equity (stock) market(s) really work - for the passive, minority, outside investor. It is a 80/20 approach (with William O'Neil's approach, proprietary metrics and tools you can achieve 80% of the success with 20% of the effort) and explicitly rides the coattails of the market (read and react - don't fight/argue with the market). This system *IS* designed for the individual investor and small professional investor - I'm not sure it would scale for $250 million portfolios and above (but I'm not sure that it wouldn't either).

CANSLIM is part fundamental (here earnings growth is the primary focus), part structural, part timing/technical and part money/risk management (this part is **crucial** to investment success). The vast amount of other investing books will typically provide only a screening/selection approach, but "How to Make Money in Stocks" provides a comprehensive investment approach including stock selection, portfolio composition, selling criteria and money/risk management.

In short - buy stocks that have a reason to go up (a new product/management catalyst, a leading stock in one of the top 20% of the 196 IBD industry groups, strong earnings growth (>25%), solid Return on Equity (> 17%), reasonable leverage, etc.) when the stock is poised to breakout (strong and increasing institutional shareholder support, has outperformed at least 80% of the market over the previous 52 weeks, the stock is consolidating after a price run-up and breaks-out on trading volume that is significantly higher than the average trading volume over the last 50 days, etc.) and finally - and this is important - scale into your positions, pyramid up in the first 5% or price appreciation and cut you losses when the stock moves against you at 7-8% from your purchase price - NO QUESTIONS/NO EXCUSES/NO RATIONALIZATION.

Check out the independent and unbiased American Association of Individual Investors [...]) - they have tracked the monthly performance of 56 stock screens since January 1998 (now 11+ years) and the CANSLIM screen is consistently in the top 3 screens with a compounded annual growth rate (CAGR) over that time in excess of 25%. While the AAII "recipe" for CANSLIM (and other screens for that matter)is a simplified approach and does not implement a strict constructionist approach (and contains buy rules only - no sell rules, just monthly re-screening - and no money/risk management techniques), it is an OUTSTANDING educational tool to learn about the pros and cons of the various stock screens and provides a starting point for anyone considering CANSLIM for their portfolios.

I personally have used CANSLIM with tremendous success since the late 1980s and participate in our local Meetup [...]) where we utilize the CANSLIM approach. While most people assume this approach generates outstanding returns in the go-go bull markets (and it does), it really earns its keep in the down markets by utilizing the 7-8% stop loss on a stock by stock basis as part of a concentrated portfolio. It was a financial life safer in 1999/2000 and again in 2008/2009. Value investors (mutual funds), by contrast, were obliterated in 2008 - down some 50-60%! If that great "margin of safety" doesn't pay off in that environment - when does it?!

This growth/momentum approach differs substantially from a valuation driven approach (e.g., the Morningstar 5-star system based Morningstar's estimate of "fair value" of the stock compared to its current stock price). But if you trade based only on your (or a 3rd-party's) estimate of fair value, be prepared for some roller-coaster rides. In fact, check out Morningstar's own performance of their 5-star ranking system for the 2,000+ stocks that they cover and for their tortoise and hare portfolio - it pales in comparison to CANSLIM. The valuation only approach is for full-time professionals only - and even then - only the best of the best have been able to produce reasonable returns over time. Like the choice embedded in the title of Ned Davis's book "Being Right or Making Money", CANSLIM allows you to make money, while the purist value investors will argue about "being right" with *their8 discounted cash flow calculations (if only the market marched to that tune).

And finally, yes, the book discusses the Investors Business Daily (IBD) newspaper (and of course, CANSLIM) as the IBD newspaper and associated website ([...]) have the tools to easily implement the CANSLIM methodology (SmartSelect(TM) ratings and other proprietary metrics). And William O'Neil is not just another financial author - he is a very successful investor, entrepreneur and financial data services provider.

I wholeheartedly endorse this book and methodology - and recommend it to EVERYONE who is considering investing directly in common stocks. Even if they pursue another style of investing, there are many excellent lessons to embrace from "How to Make Money in Stocks". ... Read more

Product Description
Full coverage of ETF investments from an expert in the field

The initial edition of Gary Gastineau's The Exchange-Traded Fund Manual was one of the first books to describe and analyze ETFs. It made the case for the superiority of the structure of investor-friendly ETFs over mutual funds and helped investors select better funds among the ETFs available.

With this new edition, Gastineau provides comprehensive information on the latest developments in ETF structures, new portfolio variety, and new trading methods. With a realistic evaluation of today's indexes, Gastineau offers insights on actively managed ETFs, improved index funds, and fund and advisor selection.

• Discusses how to incorporate ETFs into an investment plan
• Offers updated coverage of new ETFs, including full-function actively managed ETFs, and a valuable chapter on trading ETFs
• Written by the leading authority on exchange traded funds

Exchange-traded funds offer you diversification and participation in markets and investment strategies that have not been available to most investors. If you want to understand how to use ETFs effectively, the Second Edition of The Exchanged-Traded Fund Manual can show you how. ... Read more

Customer Reviews (5)

Not readible
It is clear that the author is an expert in this subject, but the book is not very readible, (ex: many of the sentences exceed 6 lines).It took me a very long time to finally finish reading the thing, my favorite was the last chapter when he compared ETFs against conventional mutual funds.

Unless you work for a firm that constructs ETFs for a living, (iShares, Vanguard, WisdomTree, etc.) then recommend that you not purchase this book,
Jim

Not a manual, but a discussion of ETFs
This is not a manual for practitioners, or for ordinary people interested in ETFs.It is a discussion of the authors views of ETFs, and why they are generally superior to other investment vehicles.

A bit long.And it's too expensive.

Two stars.

A comprehensive guide to ETFs
As a consultant to the industry, if you are going to buy one book on ETFs, this is it. Written in a clear and concise manner, this book addresses the needs of institutional investors and professionals alike.

Good practical reference work
Gary Gastineau, a managing director at Nuveen Investments and the author of The Options Manual (1988), has written the most detailed account available in print of open-ended exchange-traded funds: how they work, what are their distinctive characteristics, who trades them (largely, specialists, market makers, and hedge funds), who owns them (largely, brokerage firms clearing and carrying the ETF shares for specialists, market makers, or hedge funds), and what are their advantages and disadvantages over other sorts of investment for various investors.

This is no gripping page-turner, in the league of Jack Schwager's "Wizards" series. But it doesn't need to be. Mr. Gastineau's manual is directed chiefly at investment advisers and financial planners as a reference volume, and it serves that purpose quite well. Advisers and planners, and of course their clients, face a bewildering variety of issues pertaining to these relatively new vehicles-issues of tax efficiency, risk management, trading costs and spreads, etc. In many offices, this book will be a welcome aid in sorting out all of that.

A brilliant, comprehensive and readablecompendium on ETFs
Exchange Traded Funds are simply the biggest development for the average retail investor in the past decade. No more need to pay huge fees for opaque mutual funds/unit trusts. Just go to an exchange, buy the fund and hey presto you can track indices and have total price transparency for as long as the exchange is open.

I championed ETFs in my book "Capital Market Revolution" and I am delighted to see that ETF pioneer Gary Gastineau has produced a terrific, comprehensive book on every aspect of Exchange Traded Funds.

If you have any questions about ETFs, they will be answered by this book...

Patrick L Young
author "Capital Market Revolution"
CEO, erivatives.com ... Read more

Product Description
his e-book is designed to give you all the information about an investment club, including how to start one and keep it running successfully.

You’ll be able to start your own investment club after you read this book and follow the steps outlined here. There are many investment clubs around the country that have been running for a long time. With a bit of work and planning you too can be part of a successful investment club.

After reading this book you’ll learn the following:

•What an investment club is all about
•The excitement of investing
•Why you should start an investing club
•Personal reasons for starting an investment club
•Characteristics that should be present in both the investment club and its members
•The different types of investors
•How to find members for an investment club
•What to expect from the first meeting
•What types of officers to elect for the club
•Different types of business models
•How to register your investment club
•The importance of a mission statement
•The importance of an education program
•Types of brokers
•Types of investment software
•Resources for investment clubs
•The most active stocks today
•The meaning of stock symbols
•A glossary of investing terms

This book will get you up and investing in no time and can be used as a guideline for successfully starting your own investment club.



Dear ebook Readers:

We are dedicated to providing our customers with cutting edge information with the latest and most popular ebooks & hot topics at very affordable prices. Our mission is to create positive change in your life. We carry hundreds of unique titles including "Literary Classics" under many categories for your convenience. Please click on the name "prime ebooks" at the top of the page, next to the title, or write "prime ebooks" at the search box and you will be taken to our main page in Amazon, where you will be able to check all the interesting, unique and informative titles that we carry at Amazon Kindle. ... Read more

Product Description
In an efficient market, all stocks should be valued at a price that is consistent with available information. But as financial expert Vijay Singal, Ph.D., CFA, points out, there are circumstances under which certain stocks sell at a price higher or lower than the right price. In Beyond the Random Walk, Singal discusses ten such anomalous prices and shows how investors might--or might not--be able to exploit these situations for profit. The author distills several decades of academic research into a focused discussion of market anomalies that is both accessible and useful to people with varied backgrounds.Past empirical evidence is supplemented with author's own research using more recent data. Anomalies covered include the "December Effect," "Momentum in Industry Stocks," "S&P 500 Index Changes," "Trading by Insiders," and "Merger Arbitrage."In each chapter, the author describes the particular anomaly, explains how it occurs, shows ways to take advantage of the anomaly, and highlights the risks involved. We learn, for example, that shares of stocks that have appreciated in recent months become scarce in late December, because investors wait until January before they sell (to postpone payment of taxes on profits). This scarcity drives the price up--the "December Effect"--and smart buyers can make the equivalent of 75% annual return on a five-day investment.Each chapter includes suggestions for further reading as well as tables and graphs that support the discussion. The book concludes with a preview of many other interesting anomalies and a section on how investor behavior might influence prices. Clearly written and informative, this well-researched volume is a must read for investors, traders, market specialists, and students of financial markets. ... Read more

Customer Reviews (15)

great introduction to trading strategies
I don't think anybody is going to get rich implementing the ideas in this book. I do think people can do very well with ideas that this book will give you. There is no free lunch in finance, but knowing the basic principles and themes you can do reasonably well. For example, I've found ways to make money on his chapter 4, "short term price drift," though my toolbox would make the strat unrecognizable to someone who had only read his book. The chapter on merger arb is pretty good; add some models for the spread (or Boesky like "models") and you could do well on Risk Arb. Other stuff; momentum trades can work better than doing nothing. Add in some vol signals and the ability to hold cash, and I bet this works pretty well. If I ever get a 401k again, that's about all I can think of doing with it, so I probably will.Bias forward on FOREX -something I've been meaning to look at for a while now. I can think of reasons why it would be true anyhow. Definitely believe the NAV arb thing, though I bet it's pretty small and probably disappearing fast.

I don't remember if he characterized the risk involved (I didn't write anything about Sharpe in my notes anyhow); I suspect there is substantial risk in all of his strats. Certainly there is substantial risk in things like merger arb. Lots of what he describes does end up having a lot of human input also; for example, in the S&P index add strat, you had to do a human sort of which adds were meaningful. It's a pretty simple thing to do in principle, but it isn't what guys like me really want: which is a strat which is close to taking human subjectivity out of the loop. Certainly, this makes backtesting more meaningful; it is easy to be right when you already know the answer.There is also the issue (which I found out in the S&P strat) of the price of gathering data. One of the reasons such simple strats exist is the cost of gathering the information you need to implement them is fairly high compared to the payout. Would I be better off screen scraping all the live long day to implement some lousy subjective strat with a low Sharpe anyway? Or would I be better off getting a job at a Bank, making a lot of money, and buying bonds? Sounds flippant, but this is the source of lots of "arb" opportunities -including many of the ones in this book. Such strats may simply not be worth the arb's time.

Still, as a book which describes some basic, profitable trading strategies, Singal's book is a winner. You can use the basic ideas expounded here to have better ideas. For a new trader, there aren't many books like this you can get anything useful out of; Ernie Chan's book is the only one I can think of offhand.

Buy Hold Outperform
BuyThis book has unique advantages over its peers. It states things believed to be true.The anomalies that is describes are supported with careful research.

Hold You will want to keep this book on your reference shelf.It can be read several times, and has many gems in it.There are very few books that cover this material.

Outperform The book can be used to demonstrate correct ways to pursue the markets.If markets are not completely random, then use this book as your starting point.

Interesting book well written, temptation ot invest again
This is an "easy to read"well written book. It does not immediately bore the reader to deathlike many other investment and economics books. The logic behind weekly and annual stock trends is logically explained with examples. However very few novice investors can profit playing the stock market with these techniques. All it takes is some unexpected event like the "real estate melt down" to squander your fortunes. I recommend the book, but I don't recommend the stock market for the weak at heart.

academic AND accessible
I'm impressed with what a good job Vijay Singal has done. Beyond the Random Walk is very clear and thorough, turning what is normally overly academic research/text into easy to follow prose and investor-friendly instructions. I'm reading a library copy now, but want to have my own copy--a rarity for me.

An excellent invesment
Vijay has written a very lucid account of different pricing anomalies and how to take advantage of them. His section on momentum-trading strategies was particulary interesting to me. Sector-fund momentum trading strategies have been shown to beat the market averages ( Hulbert's Financial Digest has reviewed sector fund newletters and thinks there's statistical evidence of superiority in their total returns versus an unmanaged index). It's well worth considering as an investor if you're willing to invest a little time. I've based a website on this approach, topsectors.com, so I'm quite convinced it's a strategy that hasn't been fully exploited today and so pricing anomalies exist that the average investor can use to their advantage. ... Read more

Product Description
Explains arbitrage, hedging, and speculation from the standpoint of a participant in the foreign exchange market--whether an individual trader or an institutional trader--who possesses analytical skill, economically sound judgment, and who has access to market data. In the foreign exchange market, arbitrage involves the simultaneous purchase and sale of a currency in different markets; the profit comes from the difference in the buying and selling prices. Hedging and speculation are opposing strategies for dealing with risk; hedging is a cover, and speculation is an assumption of risk. Authors also discuss futures, swaps, forward contracts, and other strategies. For financial scholars, students, analysts, and currency traders. ... Read more

Customer Reviews (1)

Mostly just another (decent) book on trading instruments
This is yet another book -a fairly decent one - that explains the instruments that can be used in exchange rate trading. The title and book blurb though promise more - I bought the book thinking it would provide more on general principles of arbitrage, hedging and speculation. It does have some useful stuff on these issues but we would have been better served by more. This is a book at an intermediate level. ... Read more

Product Description
Anyone who wants to understand stock market cycles and develop a focused, thoughtful, and solidly grounded valuation approach to the stock market must read this book. Bolten explains the causes and patterns of the cycles and identifies the causes of stock price changes. He identifies the sources of risks in the stock market and in individual stocks. Also covered is how the interaction of expected return and risk creates stock market cycles. Bolten talks about the industry sectors most likely to be profitable investments in each stage of the stock market cycles, while identifying the stock market bubble and sinkhole warning signs. The role of the Federal Reserve in each stage of the stock market cycle is also discussed. ... Read more

Customer Reviews (1)

Stock Market Cycle following The Economic Cycle
In my quest for information about tradable (short and medium term) share price cycles I erroneously ordered this book due to its promising title and deficiency of reviews. The book is of no use for traders but gets 2 stars for the book that it is (rather than what I wanted).

The stock market cycles explained are those mirroring the economic cycles which usually extend over many years. The author details the central bank (Fed) manipulation of interest rates to control the economy, and how the stock market cycle results from the interaction of economic activity and interest rates. He then explains how assets can be moved between cash, bonds, and stocks to maximise returns through the different stages of the economic cycle. Sector rotation is briefly mentioned. I consider this basic subject would be of interest to an economics student or a portfolio manager, but private investors are generally too passive to practise dynamic asset allocation. And for a reported advantage of 2 - 3% pa it hardly seems worth the effort.

To fill up the thin book, the final uninspiring chapters cover business life cycles, the P/E ratio, and a few empirical studies too esoteric even for serious investors.

The narrow subject of The Economic Cycle is well described in this book to the point of being over-repeated (probably to make up enough pages to call it a book). I imagine this subject would fill a comprehensive chapter in an economics textbook. ... Read more

Product Description
For over 40 years, thousands of market players have turned to the historical patterns found only in the Stock Trader’s Almanac. This is an indispensable, trusted annual resource for traders and investors.

The Stock Trader’s Almanac 2010 is packed with timely insights and targeted analysis to help you navigate turbulent markets and beat the odds in the year ahead. Organized into a calendar format, the trusted guide combines over a century’s worth of data, statistics and trends along with vital analysis you won’t get anywhere else. Stock Trader’s Almanac 2010 highlights include:

Packed with invaluable historical statistics, seasonal trends, cycle analysis, and crucial indicators, this easy-to-use desk reference is a must-have trader’s bible. ... Read more

Customer Reviews (8)

I expected more!
I bought this book on the recommendation of a stock broker. He says he gets one every year and uses it a great deal. Based on this, I would question his next recommendation!

Buy one every year
Filled with interesting information on trading patterns and data - I buy one every year.

Good book
This is a very helpful book, specifically because it helps tracking some calendar events easier.
However, many times these events change, the patterns drift. In that case you need to have deeper understanding on the topic.
While this book may be a good companion, you need to read something by Toby Crabel or Linda Raschke, these are both hedge fund managers that also trade full time. Read them to see how professionals trade and then read this book.
Besides that, the authors have been doing phenomenal job with this book for at least 10 years, and every year the information isupdated.

Worth it's weight in gold
An excellent resource for every trader.It's impossible to gain this type insight from charts alone.The extensive research compiled and summarized in this book is essential for understanding the seasonal and periodic trends that exist in the market.

Buy this book.

Great for this year and beyond!
My husband lives and dies by the stock market and wanted one of these. He uses it every day and whats even better is that the same almanac can be used for every year. So I really won't have to get him a new one for 2011. That said I probably will, but this was his favorite gift this year. ... Read more

Product Description
The True Life Story and Time-Tested Strategies of the World’s Greatest Trader

"Excellent read! Captures the spirit and times of Jesse Livermore, legendary trader. The book tracks two major market crashes, love affairs, the shooting of Jesse Jr. by his mother, and two family suicides. . . . Never a dull moment." –Ace Greenberg, Chairman, Bear Stearns

"Terrific. I started reading it when we took off from Seoul’s Kimbo Airport on my way to Germany. By the time we reached Novosibirsk, Russia . . . I had finished it. I just couldn’t put it down! Not only is it a great lesson in investing and trading, it’s a fascinating psychological study of what makes a great speculator tick.The rise and fall of a great speculator as well as the rise and fall of his family is great reading. The fact that it is based on interviews with Livermore’s survivors and witnesses to the events makes it even more interesting. Great writing."–Mark Mobius, Managing Director, Templeton Asset Management

"As one of the most shrewd traders of all time, Jesse Livermore demonstrated how important discipline is when trading the market. Smitten . . . covers how Livermore created his rules . . . also reviews the lessons Livermore learned along the way to develop his strategies."–William J. O’Neil, Publisher, Investor’s Business Daily

"A stock market classic! Most entertaining and informative book on the market that I have had the privilege to read in the last twenty years. A must-read for students of the stock market–great even for those who have no knowledge of the market. Grabs you from the start and holds you enthralled from cover to cover. Great book!"–Dan Sullivan, Publisher, The Chartist, Fund Manager, and Investment Advisor

"After reading Smitten’s magnificent biography, two Japanese proverbs came to mind: ‘Fortune favors the bold’ and ‘Darkness lies one inch ahead.’ Smitten shows how fortune and darkness were integral parts of Livermore’s life . . . has the intrigue of a mystery novel and the lessons of a trading master. What more can one ask for?I eagerly recommend this book to anyone interested in history, the markets, and trading psychology."–Steve Nison, author of Japanese Candlestick Charting ... Read more

Customer Reviews (32)

Great History Lesson!
To me this book was primarily a history lesson on the early 20th century stock market.It details the life of Jesse Livermore and the lessons he learned trading stocks.It also does a great job giving a history lesson on the stock market of the time.

I would recommend this book to the following people:

1: You are either a new stock trader or looking to be one.Having a history of the market will help your trading.There are some very valid points made about the importance of keeping emotions out of trading and listening to yourself more than the "experts".

2: You are a history buff and want to learn about the stock market from the peoples point of view and not just numbers and what happened.

3: You like a good biography.

At least some basic stock market knowledge is recommended in order to truly appreciate this book.

Jesse Livermore - A Tragic Genius
While I'm not finished reading it, yet, I find the book fascinating.The stock trading techniques described in the book are now pretty much common knowledge, yet to trade them, in a disciplined manner is just as hard as ever.

Jesse's life, while enviable at times, was quite sad and bizarre at times, due to his first two wives' issues.Still, he kept on until, well, I haven't gotten that far, yet, but I believe a sense of pointlessness must have taken over his disposition, and he acted on this.Along the way, he lived the life of a major celebrity, while remaining very private and yet brilliant in his ability to foresee market trends.

I'd definitely recommend this book.

One Great Book,If you wish to learn the market
Well I have several copies of this book as I have traded for a while now,at my age I wish to pass on something ,so I am teaching my grandkids to trade the markets...I have bought probably a 100 or so books on the market at Amazon...the best ones...for my way of trading is...this one and Weinstein...how to trade in a bull and bear market...learning to use charts...it will be a eye opener for those of you who never understood how to read a finacial report ...as they report so many different ways...and the numbers can be fixed...just to much garb...look at the present bank situation...well charts don't lie ...or reading the tape as this book suggests...yes I do make money in the market...don't think I would show my grandkids how to lose do you?

skip this book
I own Reminiscences and How to Trade in Stocks along with this book, and can tell you that no worthwhile market insight can be gathered from this book that you can't get from the other two. There is a bit more information on Livermore's personal life which you may, or may not, find interesting. In my opinion, it was just an effort by Smitten to sell another book.

Amazing Read
What a great book.Entertaining and educational, this book reveals for the first time Livermore's true amazing life story with information gathered from his relatives. It includes Livermore's exploits in the stock market - how he made $100 million in the crash of '29 (and how he was hated and his life threatened as a result) and later went broke only to make it back again, as well as the women he went out with, the wholesome family life he had which ended in divorce and included bizarre events such as his wife shooting their own son, the illegal gambling he did in Florida, and his ultimate tragic end.

Includes several high-gloss pages in the middle with various pictures which I enjoyed very much. Truly incredible and entertaining read and to think he isn't well-remembered or well-known today. Extremely entertaining from cover to cover, I'd go as far as to say this is one of my all-time favorite books. ... Read more

Product Description

The stock market—the virtual place where corporations raise capital—has come to symbolize business more profoundly than any other entity or institution. This book provides a glimpse into the history, development, regulation, and increasing importance that the stock market plays in business and economic growth, as well as the investment strategies of individuals—in the U.S. and around the world, including Europe, Japan, Hong Kong, and emerging markets in the developing world that are rapidly integrating into the global economy.

To explore the roles and workings of the stock market, the authors trace its evolution from its origins on Wall Street in the 1700s to the present, and examine the varied ways in which it is used to generate economic value. From initial public offerings (IPOs) to hedge funds to American Depository Receipts (ADRs) to options and more, the authors go beyond basic stocks and bonds to highlight the development and current applications of a wide variety of financial instruments that are used to raise capital. Featuring examples, graphics, illustrations, glossary, index, and references and on-line resources, this volume offers an accessible and engaging introduction to the world of investment and corporate finance, while illuminating one of the icons of capitalism.

Product Description
All About Exchange-Traded Funds gives you the nuts-and-bolts information you need to understand ETFs. Spiders ... Diamonds ... QQQ ... With well over 200 ETFs to choose from, you can find one to track virtually any major index or industry and efficiently round out any portfolio. ... Read more

Customer Reviews (4)

Not that bad...
Despite the previous reader reviews, I appreciated this book. It describes the ETFs as a tool to use and It explains why. The problem is, I think, that there isn't that much to say about ETFs to fill 280 pages (they are basically a simple idea), so the author has been "forced" to make a wide discourse about investment philosophy and asset allocation to write the book. Probably this approach disappointed the expert readers, who expected something more sophisticated, but it's coherent with the title: "the easy way to get started". Concluding: a good book for beginners, not a comprehensive reference text for sophisticated investors.

Big Disappointment
After reviewing the front and back covers, I purchased this book.The author has spent 26 years writing a newspaper column on the subjects of money and investments.The author is not bashful with his opinions.The book describes the only strategy to use in buying securities, was the buy and hold strategy.Holding securities for 25 years.He does not believe in day trading, advising the reader against doing so.The book does not believe in fundamental analysis, technical analysis, or chart reading.It says you can not predict future prices and should not rely on historical prices as a guide.The book spends too many chapters describing stocks, mutual funds, bonds and how to find a broker.This did not leave much room to talk about Exchange Traded Funds.Which was the title of the book.Only one and half chapters were devoted to the subject.The book had potential, but it was a big disappointment.

Diversifing with Exchanged Traded Funds
The inner workings of Exchanged-Traded Funds are well explained in Richard's book. Do-it-yourself investors would be wise to learn about ETFs, and then apply that knowledge to better diversify their holdings and save expenses. Richard's book offers the sophisticated and the novice a single-source reference that can make you money over the long run. Building a well-diversified portfolio and then managing it is difficult, but "All About Exchange-Traded Funds" provided me with the insights that only an experienced advisor, like Richards, can offer. If more people had understood the essential precepts found in this book, far less money would have been lost during the past few years. Read it and profit by it.

Title should be "A Little about ETF's"
This book is more about Archie Richards' personal investment philosophy than it is about ETF's. I'm not sure who his target audience is, but I can assure you if you want to learn about ETF's, you are going to be spending about 75% of your time reading about Archie's personal opinions about the investment world and what is wrong with it. The other 25% covers what ETF's are and how they work. It may be good info. if you want to be the Cliff Claven of ETF's at your friendly neighborhood bar. But if you want to learn how to use ETF's as a viable investment, you would be better off going to the websites of the sponsors for these funds and read their free information. I can think of only one market that can benefit from this book - those of you who have never invested in your life, are VERY conservative and are prepared to buy and hold your investments for more than 20 years. For the rest of you, don't waste your time or money. ... Read more

Product Description
If you’re looking for bullet proof strategies that will protect your portfolio in any bear market without having to rely on a broker, this will be the most important report you will read

You will learn:

* The three different types of investments you should get into (This is CRUCIAL to know if you want to bear proof your investments!)

* How you can make sure not to get caught up on the negative hype coming from the Internet and television!

* The most important questions you must ask your broker or financial advisor to insure you fully understand what is exactly going on in the stock market!

* The secret equation for bear proofing your portfolio (if you don’t get this right, you’re just flushing money down the toilet!)
And much more…. ... Read more

Product Description
When once caught in the maelstrom of stock speculation the average man becomes more or less mesmerized, and at critical moments his conservatism, his resolutions and his theories all take flight. Under the discomposing influence of a rapid succession of changing values and alternating impulses he loses his perspective, is incapable of calm reasoning, and is likely to do precisely the opposite of what he had intended to do. -from The Psychology of Speculation

How do you keep your head when large sums of money are at stake? What are the greatest psychology stumbling blocks to successful trading? How can we beat the market by learning more about ourselves?

This sensible little guide teaches us how to be aware of our own assumptions and prejudices while trading so that we will expect them when they begin to interfere with our reasoning, and so that we can counter them before we do ourselves a financial injury.

Originally published in a private edition, Harper's Wall Street wisdom is again available to show us how to be enlightened speculators. ... Read more

Product Description

The Success Secrets of a Stock Market Legend

Jesse Livermore was a loner, an individualist-and the most successful stock trader who ever lived. Written shortly before his death in 1940, How to Trade Stocks offered traders their first account of that famously tight-lipped operator's trading system. Written in Livermore's inimitable, no-nonsense style, it interweaves fascinating autobiographical and historical details with step-by-step guidance on:

    * Reading market and stock behaviors
    * Analyzing leading sectors
    * Market timing
    * Money management
    * Emotional control

In this new edition of that classic, trader and top Livermore expert Richard Smitten sheds new light on Jesse Livermore's philosophy and methods. Drawing on Livermore's private papers and interviews with his family, Smitten provides priceless insights into the Livermore trading formula, along with tips on how to combine it with contemporary charting techniques. Also included is the Livermore Market Key, the first and still one of the most accurate methods of tracking and recording market patterns

Customer Reviews (37)

Very disappointing, avoid.
I didn't like this book at all. I loved loved loved "Reminiscences of a Stock Operator" and wanted to know more about Livermore, but I don't think this book is the way to do it. I didn't get anything more out of this book than Reminiscences of a Stock Operator and it's a tenth as much enjoyable.

In this genre I have just finished "Way(s) of the Turtle" by Curtis Faith and I found that to be an excellent read. In fact i'm already re-reading some chapters. If you haven't already, read either of those two first.

Easy and excellent to read
It is written in a very simple language, so it is easy to follow, may be you be able to finish the book in a few days. I am still a newbie in trading, but the concepts about Top downtrading that the book teaches can be invaluable.

Worth your money. Get it.

Disappointing and unprofessional
My first question is to McGraw Hill: do you folks have editors?Do they read books before you publish them?Whoever edited this one really needs to find a different line of work.

Insightful and informative but ultimately incomplete, this book presents the investing methodology of Jesse Livermore by first presenting his actual book, then requoting much of that book with added interview material from the author.I read many passages, word for word, in two or more different places in the book.In the worst example of redundancy, he shows us in chapter 11, word for word and chart for chart what we already saw in chapter 8.It's like they photocopied a good portion of one chapter and - literally - added those pages to another.Such feats of poor organization and editing really give this work a shoddy feel back-alley feel.

Although reading this book was interesting, I can't help but feel ripped off in that the author was trying to create more book than is really here.The redundancy is annoying and inefficient - it would have been much better to simply present each concept - once and once only - in a logical sequence of chapters including Jesse's original text and whatever additional information (which isn't much) that the author wanted to present.

One nugget is the very last chapter where Jesse walks us through the actual process of applying his strategy to real stocks (back in 1940).Oddly, however, the author introduces this chapter by saying he does not understand it (and that we probably won't either).Seems to me one primary responsibility of an author is to explain what he's presenting.

If you want to know more about Jesse, this is a pretty good book.If you want to know more about stock trading, well, it really comes up short and is just a rehash of trend following, which is explained far better in other works.The one unique feature of Jesse's approach are Pivotal Points, which are talked about a lot, but never really explained.The methodology of Pivotal Points is presented in the final chapter, but you really have to work for it.Too bad the author didn't.

And, oh yeah, I really hate it when somebody sells me a book for good money and uses it to advertise their web site that will give me information that should be in the book (Jesse's actual algorithms) I already paid money for.And it only costs me $50 bucks a month.Gee, thanks. In my opinion, this is highly unethical.

Yep, you skinned this sheep.But you only get to do it once.

Great read
Well written book with much useable information from the master of stock trading. I have purchased many books on the market and this ranks near the top of the list.

Jesse Livermore Lives On
Livermore lived during the Great Depression and was known as "The Boy Plunger" for taking on large positions. He had been trading stocks since he was 15 and was regarded as one of the best speculators of his time. He made and lost millions, and this was back when a million was a lot of money. If Livermore was alive today he would be one of the most sophisticated traders around.

I've read this book eight times and every time I read it, I pick up something new. It's so easy to read it feels as if the author is talking to you one on one. In the book he reveals his personal rules of trading, his money management procedures, his entry and exit strategies, and his rules for emotional discipline.

A lot of what he says is common sense. At least it seems that way when he explains it but it goes against what the Wall Street machine tells us. For example, Livermore stresses that you should "never average down. Why add to a trade you are already losing money on?" He also describes the foibles of buy and hold. Many people of his time bought the blue chips of the day - the railroads, steamship companies, buggy whip companies, and others who are no longer around. "Life is change" he reasons, "your clothes change, your kids change, you change lovers. So why cannot the reason you buy a stock change?"

Some of his rules include:

Always trade with the trend, along the line of least resistance.
Make sure all the factors are in your favor before you make a trade. (The factors are detailed in the book)
Stay with the leading stocks of the day
Group action is a key to timing - Stocks do not move alone.
Don't buy your entire position at once.
Always have a stop before you get in a trade. (Livermore used 10%)
Never takes tips from anyone
Never argue with the tape.
You should not be in the market all the time.

One of the things that helped me was that after a large successful trade, the author recommends taking half the profit out of the market. Put it away somewhere safe.

Even though the author says he never used charts, it seems that he was a technical, trend follower by today's definitions.He got in on what he called Pivotal and Continuation Points which he describes in Chapter 5.

Even though most of the book is put together by Smitten, it is still an enjoyable read for someone looking to put together a trading strategy and system. Someone who is new to the stock market will find a plethora of beneficial information. And the infomercial other reviewers have mentioned is only a short 6 pages at the back of the book. I've also read Reminiscences of a Stock Operator (Wiley Investment Classics) which is the story of a trader based on Livermore's life and Smitten's Jesse Livermore: World's Greatest Stock Trader and learned a lot from each of those as well. Both highly recommended.

I hope this review helps you in your decision to buy this book or not. I find that it is a mandatory read for all investors and traders. It has definitely helped me to improve my stock trading. If you want to read more of my reviews of stock trading and investment books, you can get them at TheTradingTipster.com


... Read more

Product Description
Important insights into effective option strategies

In The Complete Guide to Option Strategies, top-performing commodity trading advisor Michael Mullaney explains how to successfully employ a variety of option strategies, from the most risky--selling naked puts and calls--to more conservative strategies using covered positions. The author covers everything from options on stocks, exchange-traded funds, stock indexes, and stock index futures to essential information on risk management, option "Greeks," and order placement. The book provides numerous tables and graphs to benefit beginning and experienced traders. Written by a CTA who has successfully employed various options strategies to generate market-beating returns, The Complete Guide to Option Strategies will be an important addition to any trader's library.

Michael D. Mullaney (Jacksonville, FL) is a high-ranking commodity trading advisor who specializes in option selling strategies. ... Read more

Customer Reviews (4)

Very complete
This a great full spectrum book on the subject of options, from the greeks and using options on equities, etf`s and indexes!. It has good examples of all the strategies with illustrations and tells you the negatives and positives of each one with final thoughts. There is also a nice chapter on risk management, and lots of helpful commentary throughout the book. Better than the McMillan options books and easier to read and understand.

A must get.
This book is very good. I'm glad I bought it. Shows many strategies to limit your losses and how to cash out and stay in the game.

Not bad, but better options:
The book was definitely informative, and they understand most strategies, but I've had more success following online services Option Monster and OptionSpreadStrategies.This option strategies book concentrated a little too much on ETF strategies and Index Futures. I think there are more opportunities in equity options. But hey, the information you get from this book definitely can't hurt.

Why trade stocks?
"Wow! I wish I had this book while I was in the business.
I am sure I could have made more for my clients. Mr. Mullaney
does a thorough job explaining the instruments, theory and
strategies. Trading options is a viable strategy in current market environments. This should be on the shelf of every trader. " ... Read more

Product Description
In just a decade, the exchange-traded funds (ETFs) market has grown from one billion dollars to more than half-a-trillion dollars. While previous books have provided introductions to and listings of ETFs, ETF Strategies and Tactics offers practical guidance on how to invest in these funds and use them to balance your portfolio. Written by a powerhouse authorial team, ETF Strategies and Tactics thoroughly covers the ins and outs of ETFs, detailing how they work, their distinctive characteristics, who trades them, who owns them, and their advantages and disadvantages compared with other investment vehicles. As markets evolve, new ETFs come and go. This authoritative reference will keep you on top of your game by providing focused decision-making techniques that help determine the viability of any ETF, including its value in sector and international investing. While laying out a proven, systematic ETF investment plan, ETF Strategies and Tactics covers such valuable topics as: ETFs vs. mutual funds How ETFs are developed, what types of indexes are used, and the costs that determine returns How ETF regulations can help investors spot red flags in a fund and avoid tax problems The underlying tools of every ETF that can contribute to effective trading and minimized costs and taxes The proper use of ETFs based on an investor's goals and his/her ability to manage risk The unique short-selling opportunities associated with ETFs ETF options How to trade ETFs in the European market Inverse ETFs that go up when the market goes down Complete with one-on-one interviews with professionals from major ETFs, as well as a number of valuable appendixes, ETF Strategies and Tactics is a unique guide you will keep at your fingertips during your day-to-day activities. ... Read more

Customer Reviews (8)

Not a bad entry place for those learning the finer points of this instrument
This book had a lot of well organized information for understanding ETFs, what they are technically, what is involved in construction, maintenance, and trading them.It is definitely geared more towards the slightly above average individual trader. However, I did find explanations of mechanics interesting and helpful.

I found the interviews with a few of the major players in the industry at the end of the book very helpful as well. I particularly appreciated the question about short selling. Very insightful and telling of the distance between construction and trading.

Overall, I would recommend this book as an slightly better than entry into this seemingly straight forward product.I would say where it probably fell down the most was in the claim to discuss how to use these instruments as "hedges". Implicitly it seems obvious from an exposure standpoint; and in truth, the author does discuss some of the vagrancies between etfs. However, hedging is a bit more of an art; and in truth, would probably require another 300 pages to start to understand.

By far the most useful reference I've seen
When I decided that it was time to research ETF's to understand how they could help me broaden my investment possibilities and better manage my portfolio risk, I looked at all of the books on the subject at Amazon (for those who haven't yet used Amazon's "Look Inside" feature, it's highly useful).I wanted a general book that would give me basic information on all aspects of the market and could point me in whatever direction I needed for more detailed analysis, therefore I immediately eliminated those books that only focused on one topic such as technical trading or were pushing one specific strategy or a narrow set of strategies.Of those books that remained, "ETF, Strategies and Tactics" won the day, and I'm now very happy to have it my library.It's been a much-consulted guide as I work to incorporate ETF's into my portfolio decision-making processes.

Written by three consummate financial professionals, this book offers a thorough and outstanding introduction to all aspects of the various ETF markets, and its extensive bibliography and list of website links will point you in whatever direction you need to go to find additional information on topics of interest.The book is balanced, complete, and well-organized.The index is detailed, almost to a fault.

Given the overall organization of the book, the peerless reputation of the authors, and the extensive bibliography of links and other resources I can't imagine that there is a better or more practical introductory handbook available on the market.This book is written so that relatively inexperienced investors can benefit immediately, however due to the organization of the materials and comprehensive coverage of topics it will still be a useful quick reference even for experienced professionals.Five unqualified stars.

I saw little strategy presented in this book
I was looking for strategic thought since the word strategy is all over the cover. What I got was basic information on ETF's and so I was a bit disappointed. I was expecting sample portfolios and how they might be hedged but saw nothing like this. The basic information presented was ok, but the book cover is misleading. New title:
"Basic Information on ETF's", but I guess that's not as sexy and I guess they would not have picked my pocket then - would they?

Written By An Industry Authority
Neal has a tremendous background and experience.He was a lead educator on the CME before it went public.He was also a major force at Lind-Waldock and he really understands the financial markets.The facts are that ETFs have only been around for a short while beginning with the Standard & Poor's Depositary Receipts (AMEX: SPY), which were introduced in January 1993.Since the turn of the century these financial instruments have proliferated farther than anyone in financial economics expected.In hindsight it makes sense since they trade like a share of stock (unlike the unwieldy NAV of the traditional mutual fund).This means that ETFs have successfully been structured in such markets as futures and forex with options trading against the shares.This has the astounding implication that a stock investor can add uncorrelated non-equity assets to an equity retirement portfolio held in a standard or Roth IRA.The recent advent and success of ETFs has the undesirable consequence of a dearth of quality books on the subject such as this.This title helps fill that gap.Make sure this book is in your investment library!

Finally an ETF books for parents
As parents working to invest for our children's college education, and our retirement, we found this book enlightening. It isn't a get rich quick book, but about putting your investment priorities in order and making sure your money will be there in the future, when you need it.Why invest in mutual funds that have high expenses and needless taxes?ETFs put more of your money to work for you, as opposed to other financial products.This book is also very clearly written -- and was easy for us to understand -- and we are not financiers. ... Read more