Details

Being Right or Making Money


Being Right or Making Money


3. Aufl.

von: Ned Davis

27,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 30.09.2014
ISBN/EAN: 9781118996560
Sprache: englisch
Anzahl Seiten: 208

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.

Beschreibungen

STAY A STEP AHEAD OF THE MARKETS BY REJECTING GUESSES ABOUT THE FUTURE AND TRUSTING TECHNIQUES THAT WORK Today there are as many investment opinions as there are people. But as many a scorned investor can attest, predicting the future isn't easy. In fact, Being Right or Making Money, Third Edition explains that reliably predicting the future is often not even possible. The good news is that it isn't necessary either. Once you stop trying so hard to be right about the future, you can start making money. Being Right or Making Money, Third Edition contains a position trading strategy that any serious investor will want to keep nearby. Using the unbiased, objective standard in this book, you can stay on-target for profit in all market conditions. You'll learn how to create asset allocation models in both stocks and bonds, how to make sense out of contrarian opinion, and how to use indicators to keep you focused, no matter what. You won't find any shock-and-awe investing tactics in this book. Instead, Being Right or Making Money, Third Edition presents the solid trading model that has made Ned Davis Research Group a go-to source for market wisdom.
Foreword xi Preface xv Acknowledgments xvii CHAPTER 1 Being Right or Making Money 1 Ned Davis Bad News about Forecasting (Being Right) 1 Good News about Making Money 5 Being Right and Other Investment Techniques Are Overrated and Are Not the Keys to Success 6 The Four Real Keys to Making Money 7 The Battle for Investment Survival and Handling Mistakes 12 Stories of Five Successful Winners 14 Making Our Own Reality 19 The Ned Davis Research Response to All This 22 Timing Models 23 What Is Contrary Opinion and How to Use It 29 History and Risk Management 32 The Rest of the Book 36 Notes 39 CHAPTER 2 The Model-Building Process 41 Ned Davis The Model?]Building Process 41 Where to Start: Model Inputs 41 Sentiment and Valuation Indicators 42 Monetary Indicators 43 Economic Indicators 47 Internal Indicators 47 Moving Averages 48 Crossings and Slopes 49 Momentum 54 Putting Indicators Together 55 Conclusion 57 CHAPTER 3 A Stock Market Model 59 Loren Flath A Stock Market Model 59 Overview of the Fab Five 63 Tape Component 64 The Final Tape Component 73 The Sentiment Component 74 Sentiment Summary 87 The Monetary Model 87 Monetary Component Summary 96 Fab Five Combo Component 97 Combo Model Summary 103 Summing Up the Fab Five 104 How We Use the Fab Five 104 CHAPTER 4 A Simple Model for Bonds 105 Loren Flath A Slight Modification 109 Summary 113 CHAPTER 5 Potential Bear Market in 2014; Bearish Secular Residue and Then Buying Opportunity 115 Ned Davis Preparing for a (Say, 20 Percent) Bear Market 115 Sentiment and Valuation Indicators, If One Wanted to Be Bearish 115 Other Sentiment Indicators 120 Valuation Problems 124 Trend Indicators to Plan for a Potential Pullback—Follow the Leaders 130 More Leading Indicators of Market Peaks 132 Four?]Year Presidential Cycle Risks 136 Macro Backdrop: Debt Bubble Update 139 Watching Fed Policy to Prepare for a Major Pullback in 2014 147 What Do Demographics Say? 151 CHAPTER 6 The Aging World: Economic and Market Implications 155 Alejandra Grindal Global Population View 155 Why Is the Population Getting Older? 159 Demographic Developments 161 Implications of Aging Populations 165 Ways to Offset a Declining Workforce 172 Conclusion 177 CHAPTER 7 United States Energy Independence – A Game-Changer 179 John LaForge What the United States Consumes 181 The Thorn in the Side of Energy Independence—Oil and Transportation 183 Choosing the Right Fuel 195 Why Electric Could Be a Game-Changer 198 Why Electric Has Yet to Take Off 199 How Far Ned Could Go 200 Nat Gas—An Indirect Play on Electric 202 The Immediate Impact of Abundant U.S. Energy Resources 209 A Potential Headache for the U.S. Manufacturing Resurgence 212 Conclusion 215 About the Authors 217 About the Contributors 219 Index 223
NED DAVIS is Senior Investment Strategist and founder of Ned Davis Research Group (NDRG) and is widely quoted by media and Wall Street sources. He has been professionally involved in the stock market for over 40 years.
Being Right or Making Money, Third Edition represents the consolidated wisdom of the highly regarded Ned Davis Research Group. Surprisingly, this wisdom flies in the face of many of the new, trendy investment ideas that this century has produced. In this book, the Ned Davis Research specialists unflinchingly assert that risk-averse position traders have been more successful on average than the high profile, flash-in-the-pan day traders. Solid analysis and clear examples support this opinion, and the result is a book that should serve serious investors well in the coming years. Technologies, bubbles, and scandals have left many traders' heads spinning. Building resilient portfolios and solid long-term positions isn't what it used to be. Thankfully, the changes that we've seen—demographics, U.S. energy strategy, etc.—are relatively easy to cope with once they're understood. With a solid strategy involving asset allocation models and long-term charts, this book helps readers recognize low- and high-risk opportunities, leading to the development of sound money management skills. Coming out ahead in the long run requires, as always, a broad understanding of social, political, technological, and economic trends. These are the big ideas that really move markets. Being Right or Making Money, Third Edition was written to inform and inspire investors to rally around these issues, bypassing the spastic ups and downs that characterize day trading. When you start to think about the big ideas, big success will follow.
STAY A STEP AHEAD OF THE MARKETS BY REJECTING GUESSES ABOUT THE FUTURE AND TRUSTING TECHNIQUES THAT WORK Today there are as many investment opinions as there are people. But as many a scorned investor can attest, predicting the future isn't easy. In fact, Being Right or Making Money, Third Edition explains that reliably predicting the future is often not even possible. The good news is that it isn't necessary either. Once you stop trying so hard to be right about the future, you can start making money. Being Right or Making Money, Third Edition contains a position trading strategy that any serious investor will want to keep nearby. Using the unbiased, objective standard in this book, you can stay on-target for profit in all market conditions. You'll learn how to create asset allocation models in both stocks and bonds, how to make sense out of contrarian opinion, and how to use indicators to keep you focused, no matter what. You won't find any shock-and-awe investing tactics in this book. Instead, Being Right or Making Money, Third Edition presents the solid trading model that has made Ned Davis Research Group a go-to source for market wisdom.

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