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Buy--DON'T Hold: Investing with ETFs Using Relative Strength to Increase Returns with Less Risk Hardcover – April 19, 2010

ISBN-13: 978-0137045327 ISBN-10: 0137045328 Edition: 1st

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Product Details

  • Hardcover: 240 pages
  • Publisher: FT Press; 1 edition (April 19, 2010)
  • Language: English
  • ISBN-10: 0137045328
  • ISBN-13: 978-0137045327
  • Product Dimensions: 6.1 x 0.8 x 9.2 inches
  • Shipping Weight: 13.6 ounces
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (63 customer reviews)
  • Amazon Best Sellers Rank: #926,820 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

“Masonson is a master Almanac Investor. In Buy—DON’T Hold, he shows investors and traders how to buy and sell the right ETFs at the right time with proven strategies, technical tools, and indicators.” --Jeffrey A. Hirsch, Editor-in-Chief, Stock Trader’s Almanac

 

“Masonson not only shows you when to be in and out of the market, but also which ETFs to buy and when to sell them. This is a complete investing program that all investors can benefit from. I expect the vast majority of readers will agree with me that this book is a ‘Strong Buy.’” --Price Headley, CFA, CMT, Founder of BigTrends.com

 

“The author provides investors with a step-by-step investing plan that focuses heavily on protecting principal, while at the same time offering a systematic approach that will help investors meet their goals and stay on the right side of the market. Buy—DON’T Hold offers an effective strategy that can make a huge difference in an investor’s bottom line.” --Paul Merriman, Founder of Merriman, a Seattle-based investment advisory firm; Editor of Fundadvice.com and the Sound Investing podcast

 

“Masonson is a highly regarded stock market researcher who provides investors with his discerning perspective on an ETF investing strategy using relative strength. In this succinct and sharply focused book, Masonson develops a logical and easy-to-use strategy with all the necessary steps to maximize returns while ably managing risk.” --Nelson Freeburg, Editor of Formula Research, a financial newsletter that develops systematic investment models for stocks and bonds

 

“My 40 years of experience has convinced me that relative strength is one of the very best methods of managing portfolios. Exhaustive research shows that investments that have demonstrated the highest price strength over a significant past period are likely to outperform the market going forward. Buy only the strongest investments and hold these as long as they stay strong. Masonson’s easy-to-read book shows you a workable way to execute this winning method.” --Robert W. Colby, CMT, Chairman of Robert W. Colby Asset Management, Inc.; author of The Encyclopedia of Technical Market Indicators, Second Edition

 

Why Buy-and-Hold Doesn’t Work Anymore--and What to Do Instead!

Every few years, like clockwork, devastating bear markets decimate buy-and-hold portfolios. In the last decade, they’ve wiped out 50% of investor portfolio values...not once, but twice. Millions of investors have been forced to delay retirement, postpone funding college education for their children and grandchildren, and defer life’s many joys. You can’t afford to be invested during these inevitable, massive declines--and you don’t have to be.

 

In Buy--DON’T Hold , financial consultant Leslie N. Masonson introduces an easy-to-use investing strategy that delivers better returns with less risk than buy-and-hold.

Masonson shows you how to regain control over your portfolios using low-cost, diverse ETFs se­lected with his unique Stock Market Dashboard. You’ll learn how to reliably identify market bottoms and tops, so you know exactly when to get in and out. When it’s time to buy, Masonson helps you choose the most suitable ETF market segments with the maximum profit opportunity. He spells out exactly when you need to sell, as well, to protect your hard-earned cash.

 

Whether you’re a conservative, moderate, or aggressive investor, Masonson presents specific investing approaches customized for you--so you can meet your goals in bull and bear markets alike.

  • Discover the powerful and accurate Stock Market Dashboard
    Eight “go/no-go” indicators that identify major market shifts in time to act
  • The many advantages of investing in a select group of ETFs
    ...and how to make them work even better for you
  • Choosing the right sectors at the right time
    Mastering the powerful relative strength analysis technique
  • Putting it all together
    Your personal investing plan: a six-step roadmap for success
  • How to avoid market downturns that will demolish your hard-earned gains, again and again
  • How to use ETFs with momentum to improve your returns with reduced risk in any market conditions
  • How to determine whether you are a conservative, moderate, or aggressive investor  

About the Author

Leslie N. Masonson, MBA, CCM, is President of Cash Management Resources, a financial consulting firm that he founded in 1987. Masonson’s 40-year working career has spanned financial advisory services, trading, investing, banking operations, management, teaching, and cash/treasury management consulting. From 2004 through 2009 he was also a Financial Advisor offering investment management services to retail clients. Earlier in his career, he worked at the large banks for a total of 17 years as a Vice President at Citibank, an Assistant Vice President at Bank of America, and an Assistant Secretary at Irving Trust Company.

 

He has written more than 50 articles, including interviews with traders, as well as product and book reviews for numerous financial publications, including Technical Analysis of Stocks & Commodities, Active Trader, and Futures magazine. He has lectured on investing on Crystal Cruises, Celebrity Cruise Line, and Norwegian Cruise Line. In November 2003, he was a speaker at the Intershow Online Investor’s Expo, where he spoke on “Successfully Trading Stocks for a Living.”

 

Masonson has been studying the stock market for more than 50 years. He has invested in mutual funds, stocks, options, futures, and commodities. Masonson has read more than 500 books on investing and trading, and he is proficient in technical analysis. He has used many investing and trading software programs over the years, including Telescan, OmniTrader, DTN, TradeStation, ULTRA, VectorVest, and High Growth Stock Investing, as well as many charting, investing, and trading sites on the Internet.

 

He has been interviewed on business radio stations, as well on cable TV on the Financial News Network and CNBC. He has been interviewed by The Wall Street Journal, USA Today, Institutional Investor, Bottom Line/Business, Inc., Las Vegas Review-Journal, and Advertising Age. He has previously authored the following books: All About Market Timing: The Easy Way to Get Started, (McGraw-Hill, November 2003), Day Trading On The Edge: A Look-Before-You-Leap Guide to Extreme Investing, (AMACOM, 2000), Cash Cash Cash: The Three Principles of Business Survival and Success, (HarperBusiness, 1990), Corporate Cash Management: Techniques and Analysis, (Dow-Jones Irwin, 1985. Coedited with Frank Fabozzi), and the Corporate Treasury Management Manual (A.S. Pratt & Sons, 1998. Editor and Contributor).

 

Masonson, a permanently Certified Cash Manager (CCM), was elected to the American Management Association’s “Wall of Fame” in 1989 for his contributions to teaching financial management principles to 2,600 financial managers since 1978. In addition, he has prepared and delivered training and seminars on cash management to participants at the Center for Professional Education, Treasury Management Association, Institute of Management Accountants, AICPA, Financial Executives Institute, and Healthcare Financial Management Association.

 

He has authored more than 50 articles on corporate cash management in the following publications: Management Review, Boardroom Reports, Management Accounting, The Financial Manager, Chief Financial Officer USA 1988, Business Credit, Small Business Report, Financial Executive, Healthcare Financial Management, Investment Decisions, Pensions & Investment Age, Corporate Accounting, and Corporate Finance.

 

Masonson received a BBA in Finance and Investments from The City College of New York and an MBA in Operations Research from Bernard M. Baruch College. His master’s thesis title was “Statistical Evaluation of the Relative Strength Concept of Common Stock Selection.”


More About the Author

Leslie N. Masonson, MBA, CCM, is President of Cash Management Resources, a financial consulting firm that he founded in 1987. Masonson's 40-year working career has spanned financial advisory services, trading, investing, banking operations, management, teaching, and cash/treasury management consulting. Most recently, for the past six years he was a Financial Advisor offering investment management services to retail clients. Much earlier in his career, he worked at three large banks for a total of 17 years as a Vice President at Citibank, an Assistant Vice President at Bank of America, and an Assistant Secretary at Irving Trust Company.

He has written more than 50 articles - interviews with traders, and product and book reviews - for numerous financial publications, including Technical Analysis of Stocks & Commodities, Active Trader, and Futures magazine. He has lectured on investing on several cruise lines including Crystal, Celebrity, and Norwegian. In November 2003, he spoke at the Intershow Online Investor's Expo, on "Successfully Trading Stocks for a Living."

Masonson has been studying the stock market for more than 50 years. He has invested in mutual funds, stocks, options, futures, and commodities. Masonson has read more than 500 books on investing and trading, and he is proficient in technical analysis. He has used many investing and trading software programs over the years, including Telescan, OmniTrader, DTN, TradeStation, ULTRA, VectorVest, and High Growth Stock Investing, as well as many charting, investing, and trading sites on the Internet.

He has been interviewed on business radio stations, as well on cable TV on the Financial News Network and CNBC. The Wall Street Journal, USA Today, Institutional Investor, Bottom Line/Business, Inc., Las Vegas Review-Journal, and Advertising Age have interviewed him. He has previously authored the following books: All About Market Timing: The Easy Way to Get Started, (McGraw-Hill, November 2003 and translated into Chinese in February 2010), Day Trading On The Edge: A Look-Before-You-Leap Guide to Extreme Investing, (AMACOM, 2000), Cash Cash Cash: The Three Principles of Business Survival and Success, (HarperBusiness, 1990), Corporate Cash Management: Techniques and Analysis, (Dow-Jones Irwin, 1985. Coedited with Frank Fabozzi), and the Corporate Treasury Management Manual (A.S. Pratt & Sons, 1998. Editor and Contributor).

Masonson received a BBA in Finance and Investments from The City College of New York and an MBA in Operations Research from Bernard M. Baruch College. His master's thesis title was "Statistical Evaluation of the Relative Strength Concept of Common Stock Selection."

Customer Reviews

Put the book back on the shelf and let somebody else buy it.
vancwa
This will determine how much of your capital enters the market as this system gives buy signals on the way up.
Steve Burns
I recommend this book as one well worth reading in devising a resonable investment strategy.
Robert in NY

Most Helpful Customer Reviews

106 of 130 people found the following review helpful By Doctor.Generosity TOP 1000 REVIEWERVINE VOICE on July 3, 2010
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
As an avid stock investor for 15 years, I can testify that these are treacherous times for individuals in the market, and it's getting worse. There are many factors working against mom and pop in the stock market. One is globalization. Yes, I can invest easily in the economy of Vietnam if I wish. But the downside is that my position in a manufacturing company located next door to my home has somehow become sensitive to a debt crisis in Greece or Portugal. These destabilizing factors make it less relevant which stocks or ETF's I pick. A second development working against the self-managed IRA is computer trading, which today accounts for 70% of all trades and soon may be 99%. It used to be that the market was made of human beings; now it's you against inscrutable robots running computer algorithms. In this environment, absolutely no one - none of the highly paid so-called experts - has been able to plot a rational course for success in equities. Otherwise, the endowment funds of Harvard, Princeton and Yale universities, which hire the most highly trained full-time professionals in the world, would not have plunged in 2008 along with my IRA and yours. If the head of the Harvard endowment, supported by the best available advice and analysis, can't figure it out, how can an ordinary civilian? The truth is that depending on the stock market for your retirement through a self-managed IRA has become highly dubious. Most folks, especially those with limited time to devote, would do better buying CD's even though the yield is low. At least you won't lose your money.

Against this dismaying background, there are nevertheless hundreds of books, websites, newsletters, and TV shows which purport to offer hot advice on how to invest successfully.
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26 of 30 people found the following review helpful By Steve Burns TOP 1000 REVIEWERVINE VOICE on June 20, 2010
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This book is excellent in its ability to show investors how to replace buy and hold investing with a more technical approach that reads the markets actual direction and puts you in diversified investments through ETFs based on your own personal risk tolerance. I have been an active and successful investor for well over a decade and can say the methods in this book quantify many of the trend following techniques that I have used very successfully. While I was able to go to cash before the market meltdown in 2008 and avoid any loss of capital, I had trouble reading when to get back in to the market as it rallied off its lows. This book would have given me many tools to capture more of the uptrend than I did. Here is the basic system presented in this book:

1. Determine your risk tolerance. How aggressive or conservative are you? This will determine how much of your capital enters the market as this system gives buy signals on the way up. Also it will determine the percentage of money you invest in stock ETFs versus bond ETFs.

2. Review all your existing portfolios for possible reallocation based on the system in the book and the markets current buy or sell signal.

3. Evaluate the markets current buy or sell signal based on these eight indicators:

Percentage of stocks above their 50-day moving average. Less than 25% and rises buy, greater than 75% and falls sell.

Nasdaq composite stock index crosses 100-day moving average, from below buy, from above sell.

NYSE new daily highs minus new daily lows. -750 or more and recedes buy. 25% weekly high as % of total issues traded then declines sell.

NYSE bullish percentage

Nasdaq composite with MACD

AAII Weekly Investor Sentiment survey bullish percentage.
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31 of 38 people found the following review helpful By T. Conaghan on April 29, 2010
Format: Hardcover Verified Purchase
If you want to invest using ETFs and you are willing to spend a few minutes every week reviewing the conditions of the market and performing a relative strength ranking for 66 ETFs, this book is for you. I have read several other books on investing using ETFs, but none of them are as practical or cover all the key points like this book does. In this book, the author describes in detail a 6 step approach which includes key items such as determining your risk level, assessing the market's condition, ranking the ETFs, and using stops. The book includes specific instructions on how to perform each of these steps using free web sites where you can implement this approach. He has asset allocation recommendations for 4 types of investors based on your risk tolerance. If you no longer believe in the "buy and hold" approach, you owe it to yourself to read this book.
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29 of 36 people found the following review helpful By vancwa on December 26, 2010
Format: Hardcover Verified Purchase
The book is a not a good use of money. I just finished the book and realized some things:

1. Much of the first half of the book explains mundane things that anybody buying the book would already know.

2. RS investing in ETFs is nothing new and there are several free sites (like ETFscreen.com) that already make that method of investing very accessible to anybody. I was already doing that. Bring something new to the table.

3. Anybody can cook up an investment theory. His "dashboard" is just a hodge-podge collection of technical indicators that has no substantive acedemic research or backtesting that validates them. Plus, all elements are given equal weighting no matter what is happening in the economy. Really? REALLY? If it were that simple, I wonder why an investment bank, a mutual fund company, or a hedge fund wouldn't have developed this years ago. Fidelity with thousands of equity analysts and strategists toiling day in and day out that can't come up with a model that works, but he can? hmmmmmmm

4. Even if the magic dashboard worked, you would need to collect the data from a multitude of different sites, plug it into Excel and get an indicator value. If the author had done any due diligence and had a site that actually collected these values for you and you could just look easily look at the historical value of the dashboard indicator compared to actual market performance or backtest it over a specific period of time, well - I would be interested in seeing that. As it is, this is just some guy with excess time on his hands just goofing around trying to come up with material to fill out a book.

Bottom line - if you are still curious, go to Borders and buy some coffee and skip the first half of the book. Put the book back on the shelf and let somebody else buy it. This would take you about an hour.
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