Create Your Own ETF Hedge Fund: A Do-It-Yourself ETF Strategy for Private Wealth Management (Wiley Finance)
معرفی کتاب «Create Your Own ETF Hedge Fund: A Do-It-Yourself ETF Strategy for Private Wealth Management (Wiley Finance)» نوشتهٔ D. Fry, David Fry، منتشرشده توسط نشر Wiley & Sons در سال 2013. این کتاب در فرمت pdf، زبان انگلیسی ارائه شده است.
Many investors are intrigued by the profit potential of today's hedge funds, but most feel like they're on the outside looking in, due to the high investment requirements and complexity of these vehicles. iCreate Your Own ETF Hedge Fund/i allows you to break down these barriers and effectively operate within this environment. By focusing on the essential approaches of global macro long/short and aggressive growth, this book will help you create a fund that can take advantage of both bullish and bearish conditions across the globe.;""Praise""; ""Title Page""; ""Copyright Page""; ""Dedication""; ""Acknowledgments""; ""About the Author""; ""Introduction""; ""PART One -- Contemporary Investment Conditions""; ""CHAPTER 1 -- Hobsonâ€TMs Choice""; ""CURRENT SITUATION: THE CAPTIVE CLIENT""; ""HOW THE INVESTMENT BUSINESS CHANGED""; ""THE AGE OF THE DIY INVESTOR""; ""IF YOU CANâ€TMT BEAT â€2EM, JOIN â€2EM""; ""BAD APPLES AND UNETHICAL PRACTICES""; ""HIGH PRESSURE ENVIRONMENT""; ""THE REGULATORS CRACKDOWN""; ""THE MOTHER OF ALL MUTUAL FUND SCANDALS""; ""BUT WAIT, THEREâ€TMS MORE POTENTIAL SCANDAL AHEAD"" Create Your Own ETF Hedge Fund 8 Contents 12 Acknowledgments 18 About the Author 20 Introduction 22 Part One: Contemporary Investment Conditions 26 Chapter 1: Hobson’s Choice 28 CURRENT SITUATION: THE CAPTIVE CLIENT 29 HOW THE INVESTMENT BUSINESS CHANGED 30 THE AGE OF THE DIY INVESTOR 32 IF YOU CAN’T BEAT ’EM, JOIN ’EM 34 BAD APPLES AND UNETHICAL PRACTICES 36 HIGH PRESSURE ENVIRONMENT 38 THE REGULATORS CRACKDOWN 39 THE MOTHER OF ALL MUTUAL FUND SCANDALS 41 BUT WAIT, THERE’S MORE POTENTIAL SCANDAL AHEAD 43 CLIENT RUMBLINGS AND GRUMBLINGS 43 I STILL WANT SOMEONE ELSE TO DO IT 44 REPORTS OF MY DEATH HAVE BEEN GREATLY EXAGGERATED 45 FUTURE AREA OF GROWTH: UNIFIED ACCOUNTS 47 THE FUTURE FOR FINANCIAL ADVISORS NEVER BRIGHTER—MAYBE 49 TWO BODY BLOWS TO WALL STREET FEES 50 CONCLUSION 51 Chapter 2: ETFs—The New Investment of Choice 54 DIY INVESTORS TAKE CHARGE 55 WHAT TOOK ETFs SO LONG TO CATCH ON? 57 INDEXING VERSUS ACTIVE MANAGEMENT 58 PRACTICAL APPLICATIONS FOR FINANCIAL PLANNERS 71 ETFs AND INDEXING 72 THE ETF TSUNAMI 72 NEW QUANTITATIVE INDEXES 74 INTERNATIONAL ETFs 76 INVERSE ETFs 78 ULTRA, LEVERAGED SHORT, OR LONG ETFs 81 COMMODITY AND CURRENCY ETFs 82 ACTIVELY MANAGED ETFs? 85 WITH GROWTH COME OTHER PROBLEMS 85 A DISRUPTIVE TECHNOLOGY INDEED! 86 Chapter 3: The Rise of Hedge Funds 88 WHAT WE REALLY MEAN BY HEDGE FUND 89 HOT NEW SECTOR: PRIVATE EQUITY 99 GROWTH OF HEDGE FUNDS 99 WHO INVESTS IN THESE COMPLEX STRATEGIES? 101 WHY INVEST IN HEDGE FUNDS ANYWAY? 102 BUT CAN RETAIL INVESTORS PARTICIPATE? 103 AMENDMENTS TO PRIVATE OFFERING RULES UNDER THE SECURITIES ACT OF 1933 103 HEDGE FUND DISASTERS 108 TO REGULATE OR NOT 109 HEDGE FUNDS ARE HERE TO STAY 111 Chapter 4: A Convergence Story 112 MUTUAL FUNDS ADOPTING SOME HEDGE FUND STRATEGIES 113 FUTURES INVESTMENT STRATEGIES IN HEDGE FUNDS 114 RYDEX INVESTMENTS LEADS A BIG CHANGE 115 POWERSHARES ACTIVELY TRADED ETF 117 PRINCIPAL INVESTMENT STRATEGIES 118 DORSEY WRIGHT TECHNICAL LEADERS INDEX METHODOLOGY 119 INDEX CONSTRUCTION 119 POWERSHARES PRIVATE EQUITY ETF 120 COMMODITY ETFs DIRECT 123 CURRENCY ETFs DIRECT 125 INVERSE ETFs DIRECT 126 NEW MARGIN RULES 128 THE ZERO COMMISSION 131 CONVERGENCE WELL UNDERWAY 131 Chapter 5: The Bullish Bias Gets a Makeover 134 OTHER CONTRIBUTING FORCES 135 COMMISSIONS OUT, FEES IN 136 RECURRING FEES 138 THE GREENSPAN AND BERNANKE PUT 138 MONEY SUPPLY SHENANIGANS 139 EXCESS LIQUIDITY AND STOCK BUYBACKS 141 I’M FOREVER BLOWING BUBBLES 141 BYE-BYE GLASS – STEAGALL 142 “DA BOYZ” AND PRIMARY DEALERS MERGE 144 DOES THE FED OR TREASURY MANIPULATE MARKETS? 148 TIME TO CONNECT THE DOTS 151 THE NEW ROBBER BARONS 152 TWO JOKERS IN THE DECK 153 WHAT BEARS ARE UP AGAINST 154 Part Two: Strategies 156 Chapter 6: Market Neutral 158 THE NORTHWEST QUADRANT 161 EVEN HERE, RISKS REMAIN 162 ETFs AND MARKET NEUTRAL STRATEGIES 162 ALPHA STRATEGIES 170 MARKET NEUTRAL MUTUAL FUNDS 176 CONCLUSION 177 Chapter 7: Global Macro 180 LTCM BLOWS UP 181 GUNSLINGERS 183 THINK GLOBAL, INVEST GLOBAL 183 TRADE GLOBAL 186 SO YOU WANNA BE A GUNSLINGER, TOO? 193 CONCLUSION 199 Chapter 8: Doing It Their Way 202 SELECTED TRADER PROFILES 204 SELECTED STOCK PICKERS PROFILES 204 SELECTED DISTRESSED SECURITIES PROFILES 205 SELECTED QUANTITATIVE PROFILES 205 OTHER FAMOUS HEDGE FUND PRACTITIONERS 206 INSIDER TRADING BUILDING PERFORMANCE? 207 SO IF IT’S A GAME FOR THE BIG BOYS, HOW CAN WE PLAY? 211 Chapter 9: Trading—Do I Have To? 214 ONE TRUE THING 214 MARKET TIMING MYTHS AND REALITIES 218 THE LAZY OR PASSIVE INVESTOR: NO SINGLE STRATEGY ALWAYS PERFORMS BEST 221 THE LAZY HEDGE FUND INVESTOR: THE DO-NOTHING CROWD 223 MERRILL AND GOLDMAN TRY TO SHAKE THINGS UP: CAN PASSIVE INDEXES DESTROY FEES? 224 DAY TRADING: FRENETIC AND INTENSE 226 SHORTING EXPLAINED: TO GO NORTH, HEAD SOUTH 229 QUANTITATIVE TRADING: RESERVED FOR THE LEFT BRAIN CROWD 230 MULTISTRATEGY: ALL THINGS TO ALL PEOPLE 233 CONCLUSION 235 Part Three: Hedge Funds for the Rest of Us 236 Chapter 10: Lower-Risk Global Macro Long/Short Strategies 238 OVERWHELMED 238 FAST-FORWARD 35 YEARS 240 TREND FOLLOWING 243 RISK MANAGEMENT 249 THE TWO-THIRDS OBJECTIVE 251 FINDING YOUR SACRED COWS 254 ETFs PROVIDE THE TOOLS FOR IMPLEMENTING GLOBAL MACRO LONG/SHORT STRATEGIES 259 THE TRICK IS PUTTING THEM TOGETHER 263 Chapter 11: Constructing Your Own ETF Hedge Fund 264 TYPICAL QUESTIONNAIRE 265 LONG-TERM INVESTOR OR SHORT-TERM TRADER 267 AWASH IN ETF CHOICES 268 PERFORMANCE MYTHS AND REALITIES OF STYLE 272 ONE WORLD MARKET 276 TRUE DIVERSIFICATION 278 SHORTING ESSENTIALS 285 PORTFOLIO REALLOCATION 285 ACTIVELY MANAGED ETFS AND MUTUAL FUND POSERS 286 CONCLUSION 286 Chapter 12: ETF Hedge Fund Portfolios 288 LONG-TERM OR SHORT-TERM APPROACH 289 AGGRESSIVE GROWTH 293 GROWTH 296 GROWTH AND INCOME 298 DAVE’S SPECIAL PORTFOLIO 300 ETF SUBSTITUTES 301 CONCLUSION 302 Chapter 13: Tools and Resources 304 ONLINE TOOLS 304 IMPORTANT TOOLS I LIKE 325 MARKET INFORMATION RESOURCES 326 CONCLUSION 329 Chapter 14: Eight Steps to Building Your ETF Hedge Fund 330 STEP 1: DEFINE YOURSELF 330 STEP 2: DEVELOP YOUR HEDGE FUND STRATEGY 330 STEP 3: USE ETFS AS THE PRIMARY TOOL 331 STEP 4: USING MUTUAL FUNDS AS AN ALTERNATIVE VEHICLE 331 STEP 5: GET HELP, EVEN IF YOU’RE A DIY 332 STEP 6: IF YOU WANT TO USE A FINANCIAL ADVISOR, FIND THE RIGHT ONE 335 STEP 7: DIYS NEED AN ONLINE BROKER 335 STEP 8: FIND THE SUPPORT TOOLS YOU NEED 336 CONCLUSION 336 Index 338 "Many investors are intrigued by the profit potential of today's hedge funds, but most feel like they're on the outside looking in - due to the high investment requirements and complexity of these vehicles. Create Your Own ETF Hedge Fund will allow you to break down these barriers and effectively operate within this environment by: demystifying hedge funds and explaining why they're so popular; detailing the number and type of current, new, and proposed ETFs, which can enhance your investment return; outlining real portfolio construction techniques, which are easy to understand and implement; and much more."--BOOK JACKET
دانلود کتاب Create Your Own ETF Hedge Fund: A Do-It-Yourself ETF Strategy for Private Wealth Management (Wiley Finance)
Many investors are intrigued by the profit potential of today's hedge funds, but most feel like they're on the outside looking in, due to the high investment requirements and complexity of these vehicles. Create Your Own ETF Hedge Fund allows you to break down these barriers and effectively operate within this environment. By focusing on the essential approaches of global macro long/short and aggressive growth, this book will help you create a fund that can take advantage of both bullish and bearish conditions across the globe.