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Autor: Gregory L. Morris
ISBN-13: 9781118726976
Einband: E-Book
Seiten: 496
Sprache: Englisch
eBook Typ: PDF
eBook Format: E-Book
Kopierschutz: Adobe DRM [Hard-DRM]
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Investing with the Trend

Bloomberg Professional
A Rules-based Approach to Money Management
 E-Book
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1
Investing with the Trend provides an abundance ofevidence for adapting a rules-based approach to investing byoffering something most avoid, and that is to answer the"why" one would do it this way. It explains theneed to try to participate in the good markets and avoid the badmarkets, with cash being considered an asset class. The bookis in three primary sections and tries to leave no stone unturnedin offering almost 40 years of experience in the markets.
Part I - The focus is on much of the misinformation inmodern finance, the inappropriate use of Gaussian statistics, thefaulty assumptions with Modern Portfolio Theory, and a host ofother examples. The author attempts to explain each and offerjustification for his often strong opinions.

Part II - After a lead chapter on the merits of technicalanalysis, the author offers detailed research into trend analysis,showing how to identify if a market is trending or not and how tomeasure it. Further research involves the concept ofDrawdown, which the author adamantly states is a better measure ofinvestor risk than the oft used and terribly wrong use ofvolatility as determined by standard deviation.Part III - This is where he puts it all together and showsthe reader all of the steps and details on how to create arules-based trend following investment strategy. A soliddisciplined strategy consists of three parts, a measure of what themarket is actually doing, a set of rules and guidelines to tell youhow to invest based upon that measurement, and the discipline tofollow the strategy
4
Foreword ix

Preface xi

Acknowledgments xv

Chapter 1
Introduction 1

Part I: Market Fiction, Flaws, and Facts 13

Chapter 2
Fictions Told to Investors 15

Chapter 3
Flaws in Modern Financial Theory 27

Chapter 4
Misuse of Statistics and Other Controversial Practices 51

Chapter 5
The Illusion of Forecasting 57

Chapter 6
The Enemy in the Mirror 71

Chapter 7
Market Facts: Bull and Bear Markets 83

Chapter 8
Market Facts: Valuations, Returns, and Distributions 113

Part II: Market Research 139

Chapter 9
Why Technical Analysis? 141

Chapter 10
Market Trend Analysis 159

Chapter 11
Drawdown Analysis 231

Part III: Rules-Based Money Management 267

Chapter 12
Popular Indicators and Their Uses 269

Chapter 13
Measuring the Market 281

Chapter 14
Security Ranking, Selection, Rules, and Guidelines 319

Chapter 15
Putting It All Together: The "Dancing with the Trend"Model 355

Chapter 16
Putting Trend-Following to Work 391

Chapter 17

Conclusions 399

Appendix A: Passive versus Active Management 409

Appendix B: Trend Analysis Tables 413

Appendix C: Market Breadth 445

Appendix D: Recommended Reading 457

Bibliography 459

About the Author 467

About the Online Resources 469

Index 471
Autor: Gregory L. Morris

Gregory L. Morrisis Chairman of the Investment Committee for Stadion Money Management, LLC, which manages approximately $5.4 billion, and their Chief Technical Analyst. Prior to this role, Morris served as a trustee and advisor to the MurphyMorris ETF Fund and as treasurer and chief executive officer of MurphyMorris Money Management Co. and MurphyMorris.com. He has been a technical market analyst for over forty years, ranging from analysis software development and website analysis and education to money management. Morris is the author of two books,Candlestick Charting ExplainedandThe Complete Guide to Market Breadth Indicators. He has appeared frequently on financial news shows, has lectured on technical analysis worldwide, and has been featured in major magazines. Morris was a U.S. Navy fighter pilot, is a graduate of the Navy Fighter Weapons "Top Gun" School, and holds a degree in aerospace engineering from the University of Texas.

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Autor: Gregory L. Morris
ISBN-13:: 9781118726976
ISBN: 1118726979
Verlag: John Wiley & Sons
Seiten: 496
Sprache: Englisch
Auflage 1. Auflage
Sonstiges: Ebook