دانلود کتاب Buy, don't hold: investing with ETFs using relative strength to increase returns with less risk. - Description based on print version record

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Cover......Page 1
Contents......Page 8
Foreword......Page 14
Acknowledgments......Page 17
About the Author......Page 19
My Early Beginnings in the Stock Market......Page 22
My Investment Experience Spans Over 50 Years......Page 23
The Purpose of This Book......Page 24
Why I Wrote This Book Now......Page 26
Managing Your Financial Affairs Is Critical......Page 29
Benefits of Managing Your Own Investments......Page 30
Chapter 1 The Stock Market Roller Coaster......Page 34
Secular Bull and Bear Markets......Page 35
Latest Bear Market......Page 36
Bear Markets Have a Long Recovery Time......Page 37
Historical Market Returns Are Not a Forecast of Future Returns......Page 38
Stock Market Facts......Page 39
Ten Arguments for BAH......Page 42
Seven Arguments Against BAH......Page 44
Mutual Fund Managers Do Not Practice Buy-and-Hold......Page 45
Wall Street’s Objective Is to Keep Your Money Under Management......Page 47
Three Reasons for Corrections, Crashes, and Bear Markets......Page 48
Market Crashes Are Devastating......Page 49
Time to Break Even After Bear Market Debacle......Page 50
Secular Bear Markets Are Not That Rare......Page 51
Investing in the Stock Market Is a Very Risky Proposition......Page 52
Preservation of Capital Is Paramount......Page 54
Chapter 2 Understanding the Concept of Risk......Page 58
Risk Tolerance Questionnaires Have Major Shortcomings......Page 59
Typical Risk Tolerance Questions......Page 60
New Risk Tolerance Questionnaires......Page 61
FinaMetrica Questionnaires......Page 62
Recent Market Decline Has Brought Risk to the Forefront......Page 63
Market and Individual Stock Risk......Page 64
Diversification Risk......Page 66
Inflation Risk......Page 69
Use Stop Orders to Protect Profits and Minimize Losses......Page 70
Final Point......Page 74
Chapter 3 Personal Investing Plan: Six-Step Road Map to Success......Page 76
Step 2: Review Your Existing Investment Portfolios......Page 78
Step 3: Assess the Stock Market’s Condition......Page 79
Step 4: Invest in a Selected Universe of ETFs......Page 80
Step 5: Select Top-Ranked ETFs Based on Relative Strength Analysis......Page 81
Step 6: Protect Your Portfolio Using Stops......Page 82
The Bear Market Impact Is Devastating......Page 83
Retirement Accounts Offer Tax Advantages and Compounding of Principal......Page 84
Investment Choices Vary by Plan......Page 85
No Capital Losses Are Available in Retirement Accounts......Page 86
Retirement Investing Using Our Action Plan......Page 87
Chapter 4 Exchange-Traded Funds—The Most Suitable Investment Vehicles......Page 88
Majority of Active Fund Managers Have a Poor Track Record......Page 89
Index Funds Have Garnered Most of New Equity Mutual Fund Money......Page 91
Comparison of ETFs to Mutual Funds......Page 92
Exchange-Traded Fund (ETF) Basics......Page 95
ETF Benefits Are Extensive......Page 104
Leveraged ETFs Are Very Risky and Dangerous in the Wrong Hands......Page 105
ETF Allocation for Different Investor Types......Page 107
Recommended ETFs......Page 109
Recommended ETF Books......Page 114
ETF Web Sites......Page 115
Chapter 5 The Stock Market Dashboard—Key Stock Market Indicators to Gauge the Market’s Direction......Page 116
Pay No Attention to Wall Street Experts......Page 118
Introducing the Stock Market Dashboard......Page 121
Three Market Entry Strategies to Consider......Page 122
Sell All Positions on a Dashboard Sell Signal......Page 123
Introduction to Dashboard Components......Page 124
1. Percentage of NYSE Stocks Above Their 50-Day Moving Average......Page 128
2. NASDAQ Composite Stock Index Crosses the 100-dma......Page 129
3. NYSE Daily New Highs Minus Daily New Lows......Page 131
4. NYSE Bullish Percentage (NYSEBP) on a Point-and-Figure Chart......Page 133
5. AAII Weekly Investor Sentiment Survey Bullish Percentage......Page 134
6. MACD Indicator Reading on the NASDAQ Composite Index......Page 135
7. Best-Six-Months Strategy with the MACD Indicator......Page 138
8. NASDAQ Summation Index Moving Average Crossover with MACD Indicator Confirmation......Page 143
Scoring System for Indicators......Page 144
Number of Yearly Buy and Sell Signals......Page 145
Indicator Scoring and Spreadsheet Preparation......Page 146
Quick Reference Guide to Dashboard Signals......Page 152
The Basic Premise of Relative Strength Analysis......Page 156
Relative Price Strength Test in 1969 and 1970......Page 158
Relative Strength Studies by Colby, O’Shaughnessy, and Kirkpatrick......Page 159
Always Check the ETF’s Chart Before Purchase......Page 162
A Limited ETF Investing Universe......Page 163
ETF Selection Strategy #2 Entire Universe......Page 164
When to Sell ETFs That Fall in the Ranking......Page 165
Basic Information Provided......Page 166
Web Site Style and Market Segment Views......Page 167
Morningstar Style Box......Page 171
SPDRs Select Sectors......Page 172
International—Country ETFs......Page 175
Fixed Income ETFs......Page 178
Composite Rankings on Our Customized ETF List and Comparison Chart......Page 180
Using www.etftable.com to Rank ETFs......Page 186
SPDRs Select Sectors Example......Page 187
Composite Rankings on a Customized ETF List......Page 189
Other ETF Web Sites with Performance Data......Page 191
Appendix 6.1: Listing of ETF Symbols for Composite Performance and Ranking Tables......Page 192
Chapter 7 Subscription Software for Ranking the ETF Universe......Page 194
High Growth Stock Investor Software (HGSI)......Page 195
HGSI Capabilities......Page 196
ETF Coverage......Page 197
Edit Filter......Page 198
ETF Relative Strength Ranking......Page 199
ETF 26-Week Price Performance......Page 200
Charting Example and Indicators......Page 201
Market Timing Indicator......Page 204
ETF Composite Price Performance Over 26 Weeks......Page 206
Chapter 8 Putting It All Together......Page 208
Step 1: Determine Your Risk Tolerance and Investor Profile......Page 209
Step 3: Evaluate the Stock Market’s Condition......Page 210
Interpreting Dashboard Signals......Page 211
Three Approaches to Buying ETF Positions on a Consensus Buy Signal......Page 212
Sell All Positions on a Dashboard Sell Signal......Page 213
Working Through Dashboard Signals Near the March 9, 2009, Market Low......Page 214
Step 4: Invest in the Recommended Universe of ETFs......Page 216
Step 5: Select Top-Ranked ETFs Based on Relative Strength Analysis......Page 220
When to Sell ETFs That Fall in the Ranking......Page 221
Refrain from Refining Your Investing Plan......Page 222
Four Interesting Insights to Ponder......Page 223
A Last Word......Page 224
Appendix 8.1: October 2007 Dashboard Scores......Page 225
In Summary......Page 227
Bibliography......Page 228
B......Page 232
D......Page 233
G......Page 234
J-K......Page 235
M......Page 236
O-P......Page 237
Q-R......Page 238
S......Page 239
W-Z......Page 240