Taming the Beast: Wall Street's Imperfect Answers to Making Money - Hardcover

Light, Larry

Hardcover

ISBN 10: 0470602155 ISBN 13: 9780470602157

Verlag: John Wiley & Sons Ltd, 2011

Inhaltsangabe

A compelling financial narrative on flexible strategies investors can use to protect their assets Which is the best strategy for protecting your investments? Value investing? Indexing? Hedging? Growth investing? Asset allocation? It all depends upon the market because, although Wall Street has tried time and time again to devise a single system to tame the beast, the only thing that's constant about the market is that it's always changing and no one system will work perfectly to protect your assets each and every time. Taming the Beast: Wall Street's Imperfect Answers to Making Money presents the various strategies, and shows you how the best strategy is to be both flexible and nimble. * Details the origins and evolutions of Wall Street's most popular trading strategies * Describes who originated the strategy, and those who contributed to it * Analyzes each strategy's strengths and weaknesses As Benjamin Graham noted in the 1930s, investors would be well advised to avoid getting mired in one set of beliefs. Times change, and so do markets. The key is to be flexible. Taming the Beast shows you how.

Über diesen Titel

Über die Autorin bzw. den Autor

Larry Light has been the editor for personal finance at the Wall Street Journal, where he wrote finance stories for the paper on topics ranging from gold-buying mania to the plight of GM bondholders. Before joining the WSJ, he was the senior editor in charge of money and investing for Forbes magazine. Under his supervision, Forbes reporters uncovered hosts of Wall Street abuses, in particular, mutual fund shenanigans that prosecutors later pounced on. At BusinessWeek, he was part of a team that won a National Magazine Award. A well-known personality in the financial media, Larry regularly appears on CNBC, CNN, Fox News, MSNBC, Bloomberg News, and NBC.

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PRAISE FOR TAMING THE BEAST

"Larry Light has been reporting on and writing about Wall Street and its players for many years, and that experience is clearly evident in this well written, highly readable book. Larry takes the reader through the various investment strategies that fueled the big bull and bear markets of the past several decades, analyzes their strengths and weaknesses, and provides more than enough information to allow investors big and small to make intelligent choices about how best to manage their own portfolios in these turbulent times." A. GARY SHILLING, President, A. Gary Shiling & Co., Inc.

"Larry Light's Taming the Beast is one of the best books yet that helps explain the growth and history of the financial markets over the past thirty years. The book deserves space on one's bookshelf as it offers an excellent history lesson for both the experienced and novice investor." JEFFREY RUBIN, Director of Research, Birinyi Associates, Inc.

"Larry Light's Taming the Beast is a first-rate contemporary read on making money in a variety of markets in the post-crash era." DAVD N. DREMAN, Chairman and Managing Director, Dreman Value Management, LLC

Aus dem Klappentext

Value investing, hedging, growth investing, passive indexing, active indexing, fixed assets, REITs, MPT, momentum, chartism, behaviorism . . . the second half of the twentieth century spawned a multitude of investing approaches, each with its legion of true believers who passionately defend it as the last word in mastering the market. And with good reason: each approach has worked extremely well for its adherents except when it didn't.

If the 2008 financial crisis taught us anything, it's that when it comes to taming the beast of Wall Street, all solutions are imperfect solutions. Every approach has its fundamental strengths and weaknesses. And the most successful investors are those who author Larry Light calls "ambidextrous" investors who pay no allegiance to one particular orthodoxy but who possess the wherewithal and agility to take advantage of the best aspects of each.

Part compelling narrative history, part nuts-and-bolts investing guide, Taming the Beast puts you on the road to becoming just such an ambidextrous investor by getting you up to speed on all the major investing approaches. Each chapter zeroes in on one approach, telling the story of its origins and evolution. Light carefully examines an approach from every angle, assessing its various strengths and weaknesses and explaining how and when it makes sense to use it. And he offers valuable pointers on how to combine aspects of several approaches to forge an investment strategy that will work for you.

Throughout, Larry enlivens the coverage with fascinating profiles and fun facts about such investment luminaries as Ben Graham, Thomas Price, Bill Gross, Jeremy Siegel, Lewie Ranieri, Michael Milken, and dozens more. For instance, did you know that Alfred Winslow, father of the hedge fund, was a Soviet spy before converting to capitalism; or that John Templeton, founder of Templeton Growth Fund, the first foreign asset fund, was once busted for vagrancy for sleeping in a Bulgarian park; or that Lewie Ranieri, the brash, blue-collar genius behind the mortgage-backed securities craze, now runs a program dedicated to rescuing distressed homeowners from foreclosure?

While the investing philosophies described can be complex at times, the takeaways from Taming the Beast are fairly straightforward: successful investors always are intimately involved with their investments; they are always up on events, in and beyond the financial markets; they are flexible, disciplined, and canny enough to know when to hold 'em and when to fold 'em; and, finally, they are keenly aware of both the sweet promises and bitter shortcomings at the heart of every ingenious method mere mortals have ever devised for taming the beast of Wall Street.

Details zur Ausgabe

• Verlag: John Wiley & Sons Ltd
• Erscheinungsdatum: 2011
• Sprache: Englisch
• ISBN 10: 0470602155
• ISBN 13: 9780470602157
• Einband: Tapa dura
• Anzahl der Seiten: 276
• Kontakt zum Hersteller: Nicht verfügbar
• Verantwortliche Person: Nicht verfügbar