- Paperback: 272 pages
- Publisher: Kaplan Trade (1 Oct 2004)
- Language English
- ISBN-10: 0793194148
- ISBN-13: 978-0793194148
- Product Dimensions: 22.9 x 15.3 x 1.5 cm
- Amazon Bestsellers Rank: 898,725 in Books (See Top 100 in Books)
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Synopsis
It is the best investment strategy you've never heard of. The stock market still intrigues people, but shell-shocked individual investors have learned to be more savvy and realistic with their investments. There is no way to eliminate risk when stocks fluctuate, but risk can be reduced and even controlled. Geared to individual investors, Eric Stokes unravels the mysteries behind using market neutral investing principles, enabling readers to make money by using his proven low-risk, high-return balanced techniques. In addition to tips that cover beginning to intermediate investing topics, Stokes also presents the strategies behind market neutral investing in practical, easy-to-understand terms. Stocks go up and down, but investors shouldn't have to limit themselves to only one-half of the equation. Enter market neutral investing, where investors can take advantage of movement in both directions: long and short investing."Market Neutral Investing" teaches investors: how to implement this proven strategy, used since the 1940's by the most elite money managers; what the three different types of portfolio risks are: company, sector, and market, and how to manage them; how to sell a stock short and make money when a stock price declines; what "hedge funds" are, how they operate, and what makes them attractive; and what the five simple measures of stock valuation are and how to use them.
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First Sentence
From the time most of us were old enough to understand the word invest, we also began to receive a steady stream of advice about how to do it. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
From the time most of us were old enough to understand the word invest, we also began to receive a steady stream of advice about how to do it. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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3 reviews
8 of 8 people found the following review helpful
Great Introduction to Market Neutral investing
14 Sep 2007
Format:Paperback|Amazon Verified Purchase
This book was a good introduction to market neutral investing. After reading it, I certainly have a good appreciation of what is involved.
I can't give it 5 stars however, the reason being when you short a stock the individual investor will be paying margin interest (etrade at time of writing this review was 10.24% <$50K for example). Margin interest isn't taken into consideration in the book, in fact I don't believe it was mentioned once. That's crazy to me. If you short $50K worth of stocks, and go long $50K of stocks for 1 year, and your margin interest is 10%, your combined long/short portfolio is going to have to return 5% to even breakeven. The fact that margin interest isn't mention in the book disappointed me. But like I said, this is a great book as an introduction to market neutral investing, it's easy to follow, and well written.
I can't give it 5 stars however, the reason being when you short a stock the individual investor will be paying margin interest (etrade at time of writing this review was 10.24% <$50K for example). Margin interest isn't taken into consideration in the book, in fact I don't believe it was mentioned once. That's crazy to me. If you short $50K worth of stocks, and go long $50K of stocks for 1 year, and your margin interest is 10%, your combined long/short portfolio is going to have to return 5% to even breakeven. The fact that margin interest isn't mention in the book disappointed me. But like I said, this is a great book as an introduction to market neutral investing, it's easy to follow, and well written.
7 of 7 people found the following review helpful
Insightful !
23 Feb 2005
Format:Paperback
Any investor disposed to pick stocks should read this excellent short introduction to the esoteric discipline of market neutral investing. Author Eric Stokes provides a better introduction to investment risk than the usual explanations found in most popular investing books. He also discusses a variety of ways to use the underlying principles of market neutral investing without becoming a full-fledged market neutral investor. Indeed, the quantitative capabilities and research skills necessary to run a market neutral portfolio are far beyond the scope of all but the most well-staffed investment firms. But a simple strategy like purchasing shares in an index inverse fund to hedge the risk of a long index fund could make sense for many investors. To learn if this strategy is right for you, we recommend reading this book.
3 of 3 people found the following review helpful
Great book
28 July 2007
Format:Paperback|Amazon Verified Purchase
I thought this was a great book. It simplified the concept of investing 'short' in conjunction with a standard stock portfolio to reduce risk, without sacrificing overall returns. In todays market, this certainly sounded attractive to me. Not only conceptual, but actual information on how to easily create and trade a short strategy. Much easier than I expected to implement this kind of advanced stock investment strategy.
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