Buy and Hold is Still Dead (Again)

The Case for Active Portfolio Management in Dangerous Markets

Häftad, Engelska, 2016

Av Kenneth R. Solow, Kenneth R Solow

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The current academic and financial planning industry definitions of “risk” are changing quickly, but the notion of what constitutes a risky investment strategy is still stuck in the Dark Ages. Wealth management expert Kenneth Solow takes a fresh look at the investment industry’s reliance on Buy and Hold investing, exposing the flaws and potential dangers of this strategy during long-term bear markets. The fact is, patiently waiting for stocks to deliver historical average returns is not an effective investment strategy. Solow advocates a different approach called Tactical Asset Allocation, and he offers the reader an unparalleled look into the methods, techniques, and safeguards of active portfolio management. Now in its second edition with updated material and a new chapter, "Buy and Hold is Dead (Again)" remains an invaluable investment guide for our financially challenging times.

Produktinformation

Utgivningsdatum2016-01-21
Mått155 x 233 x 26 mm
Vikt550 g
FormatHäftad
SpråkEngelska
Antal sidor330
Upplaga2
FörlagMorgan James Publishing llc
ISBN9781630472108

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Finansiering inom Ekonomi och ledarskap

Part one: buy and hold is deadChapter 1: WE’RE ALL INChapter 2: The Risks of Buy and Hold Investing In Bear Markets (or, Why You May Never Be Able To Retire)Chapter 3: Why The Financial Industry Believes In Buy and Hold InvestingChapter 4: Hogs, Cobwebs, And Other Imperfect AssumptionsChapter 5: The Theoretical Case For Active Portfolio ManagementChapter 6: The Trouble With Quant ModelsChapter 7: Compelling Evidence That Active Management Really WorksPart Two: Active Portfolio ManagementChapter 8: Portfolio Strategy In A Post-Lehman WorldChapter 9: Becoming An Investment Expert (or, How To Be Right For The Right Reasons)Chapter 10: The Incredible, Amazing P/E RatioChapter 11: Developing A Point Of View With Top-Down AnalysisChapter 12: Bottom-Up Investment Analysis: A Case StudyChapter 13: The Psychology Of Making Investment MistakesChapter 14: The Tax Tail And The Portfolio DogChapter 15: Decisions, Decisions, DecisionsChapter 16: Industry Forecast (An Essay)

“Solow’s one-two punch book delivers a compelling account that the old conventional wisdom of buy-and-hold should be a relic of history. The modern understanding of secular stock market cycles drives his compelling knockout that active portfolio management is essential for today’s investor.” --- Ed Easterling, Author, Unexpected Returns: Understanding Secular Stock Market Cycles“It is perhaps embarrassing that we must turn to books like Solow’s for insights that the CFA curriculum should have been inculcating for two decades. This book not only explains these insights, but translates them into practical policies that investors can utilize to meet their true objectives.” --- H. “Woody” Brock, Ph.D. Founder and President, Strategic Economic Decisions, Inc.“If the government fails to mop up the recent flood of liquidity, active asset allocation, as Solow advocates, will be required to adjust for a dangerous new inflation environment. This is an excellent book for financial advisors.” --- Steve Leuthold, Founder and Chief Investment Officer, The Leuthold Group