In this book the author argues that the traditional buy-and-hold strategy for stock and mutual fund investing is obsolete and ineffective. A better approach to timing buys and sells, called the TrendPoint! approach, is presented. The timing approach is momentum-based, but stock selection is done on the basis of fundamentals, so up-to-date advice on the best evaluation parameters is also presented.
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Editorial Reviews
From the Author
On retirement I have chosen to manage my personal pension fund. I developed the TrendPoint! strategy because of dissatisfaction with my early approach to timing my stock and mutual fund buys and sells, especially my selling decisions.
About the Author
In his day job as an expert in the theory and practice of argumentation, Dr. Grennan teaches critical thinking skills and attitudes to young people. His enthusiasm for this subject no doubt accounts for the iconoclastic tone of this book.
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4.0 out of 5 stars
Innovative technical system for investing in trends,
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This review is from: Investing: More Success with Less Stress (Paperback)
The concept underpinning this book is simple and convincing - assets trend in price and trends can be identified by price movements established in a determined direction. The author looks at both indices and stocks and backtests an hypothetical system whereby a movement of a given magnitude (5% to 10% usually), determined to be significant with respect to the asset's recent historical volatility, gives buy, sell or shorting signals. For example - the S & P 500 moves up by the predetermined significant magnitude, say 10% - the system buys the index with a 5% stop. If subsequently there is a reverse movement between any two price points equal to 10%, the system shorts the index with a 5% buyback stop.
This is the book in essence. The idea I think is as original as it is simple - it leads to being often invested and playing both the long and short sides. There is definitely potential for application on indices although, unlike the author, I think individual equities represent excessive unsystemic risk to be traded successfully with this approach. The book is short and the prose is clear and unambiguous. The main lacking themes are those of position sizing and reassessing the volatility of the assets being traded, which of course is a must when we take into account how difficult and expensive it would be to trade this system in a highly volatile environment a' la 2008. Rather than a standalone book, I consider this a valuable purchase for investors looking for an additional method of harnessing trends, a source of inspiration which supplies the basis for far more advanced and fine-tuned investing approaches.
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