Details

Japanese Equities

A Practical Guide to Investing in the Nikkei
1. Aufl.

von: Michiro Naito
36,99 €
Verlag:	Wiley
Format:	PDF
Veröffentl.:	27.08.2019
ISBN/EAN:	9781119603689
Sprache:	englisch
Anzahl Seiten:	192

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Beschreibungen

Titelbeschreibung

An indispensable resource for anyone wishing to understand and successfully invest in the Nikkei. Recent years have seen steady growth in investor interest in the Japanese equity market, the second largest in the world. Japanese Equities describes how the Nikkei works, explains its driving factors and presents a collection of insightful case studies to help you successfully invest in the market. Author Michiro Naito, a former equity derivatives/quantitative strategist for J.P. Morgan Securities Japan, helps you understand the ups and downs of the market and capitalise on its money-making opportunities. Already a substantial part of many equity investor portfolios, the Nikkei exhibits characteristics that respond more sensitively to global economic conditions than other developed markets. This valuable book helps you grasp the idiosyncrasies of the market and correctly time investing decisions to maximise profits. This English translation of the original Japanese book includes additional chapters discussing recent political developments that influence the Japanese economy such as the re-election of Prime Minister Shinzo Abe, the trade policies of Donald Trump (the US-China trade war) and the difference in monetary policy between the Bank of Japan and the FED. This book: <ul> <li>Offers a simple quantitative strategy to take advantage of the cyclical trends and repeating patterns of the Nikkei to attain desirable returns</li> <li>Explains how derivatives instruments affect the equity market, which is seldom covered in textbooks</li> <li>Highlights a quantitative approach supported by solid historical back-tests</li> <li>Discusses fundamental and technical factors that underlie the movement of the Japanese equity market</li> <li>Provides insights drawn from the author’s decades-long research and experience working in the securities industry</li> </ul> Japanese Equities: A Practical Guide to Investing in the Nikkei is a must-have text for investors, hedge fund and pension fund managers, academics, researchers and students of international finance.

Inhaltsverzeichnis

About the Author vii Acknowledgments ix Preface xi Chapter 1 Macro Indicators and Seasonality 1 Chapter 2 Policy Impact 25 Chapter 3 Topics Derivatives 65 Chapter 4 Market Tops and Bottoms 93 Chapter 5 Other Market Movers 111 Chapter 6 September 2017–December 2018 145 Epilogue 165 Index 169

Autorenportrait

MICHIRO NAITO was as an equity derivatives/quantitative strategist for J.P. Morgan Securities in Japan from 2004 to 2017, specializing in Japanese equities. He previously worked in the US as an investment analyst for Teacher Retirement System of Texas, as a convertibles analyst at Merrill Lynch Japan and as an equity derivatives strategist at BZW Securities Japan. He holds a Ph.D. in theoretical nuclear physics from the University of Texas at Austin.

Back cover copy

Valuable information and recent case studies on how the Japanese equity market works and what drives it — essential for anyone aiming to successfully invest in the market The Japanese equity market, the second largest equity market in the world, responds to global economic conditions more sensitively than other developed markets and offers substantial money-making opportunities for those who know how to correctly time their trades. The cyclical nature of the market, along with its reasonably predictable reactions to global economic conditions, makes proper timing relatively easy to recognize. No one knows this better than author Michiro Naito, a former equity derivatives/quantitative strategist for J.P. Morgan Securities Japan. Combining in-depth knowledge and accessible writing, the author explains the inner workings of the Nikkei and helps investors understand the market’s idiosyncrasies to take the fullest advantage of profit-making opportunities. Through case studies, this book examines the various indicators and indices in their historical contexts and provides a quantitative approach supported by solid backtests. Identifying historical patterns helps predict the economy which, in turn, helps predict the general direction of the equity market. However, the Nikkei is particularly susceptible to short-term fluctuations, often caused by current events around the globe. Understanding how factors such as political disruptions and policy decisions influence the market is essential for forecasting short-term moves. Factors such as the re-election of Prime Minister Shinzo Abe, the trade policies of Donald Trump (the US-China trade war) and the difference in monetary policies between the Bank of Japan and the Fed, amongst others, can indicate accurate timing in the Nikkei. The goal of this book is to help both potential and professional investors gain a better understanding of the Nikkei and acquire the knowledge required to identify the cyclical trends and repeating patterns in order to successfully invest in the Japanese equity market.