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The ETF Book: All You Need to Know About Exchange-Traded Funds [Kindle Edition]

Richard A. Ferri
4.3 out of 5 stars  See all reviews (31 customer reviews)

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Book Description

Written by veteran financial professional and experienced author Richard Ferri, The ETF Book gives you a broad and deep understanding of this important investment vehicle and provides you with the tools needed to successfully integrate exchange-traded funds into any portfolio. Each chapter of The ETF Book offers concise coverage of various issues and is filled with in-depth insights on different types of ETFs as well as practical advice on how to select and manage them.


Editorial Reviews

Review

"Investors interested in ETFs will find this book an extremely useful resource. Virtually every topic related to ETFs is covered, in an unbiased, comprehensive, and easy-to-understand manner." (Advisor Perspectives, December 2007)

"The ETF Book is an excellent compendium of the background, structural drivers, pros and cons of ETFs, as well as the strategies that can be advanced using them. Years from now, this book will be noted for introducing index strategy boxes as a powerful analytic." (SFO Magazine, April 2008)

From the Inside Flap

When the original edition of The ETF Book was first published in 2007, it immediately became the source for cutting-edge information on many exchange-traded products (ETPs)—mainly exchange-trade funds (ETFs). The book has still not been surpassed, but with the marketplace for ETPs quickly evolving, now is the perfect time for the Updated Edition of The ETF Book.

This detailed, yet clearly articulated guide—written by veteran financial professional and experienced author Richard Ferri—contains the most up-to-date information on navigating the growing number of ETPs available in today's market. Divided into four comprehensive parts, this revised resource introduces you to everything from successful structures such as bond funds, commodities funds, and currency funds to concepts such as actively managed ETFs that have recently become a reality. Along the way, you'll gain valuable insight into how you can effectively integrate ETFs into any portfolio.

Becoming an informed investor means that you need to know what makes ETFs unique, how they work, and which funds may help you achieve your financial goals. Whether you're just getting started or are a seasoned investor, the Updated Edition of The ETF Book will help enhance your understanding of this dynamic field by:

  • Detailing the different types of ETPs, including ETFs, exchange-traded notes (ETNs), grantor trusts, and unit investment trusts (UITs)

  • Exploring the latest ETF strategies—from buy, hold, and rebalance to market timing and sector rotation

  • Highlighting how to implement a wide selection of ETPs—from equity and fixed income to commodities and leveraged funds

  • Examining the fundamental differences between index-based ETPs

  • Introducing Index Strategy Boxes—a proven way to understand index construction that is the basis for how most ETPs are invested

  • And much more

As an added benefit, this book's appendixes offers an ETF Resource List—which will point you to other sources that discuss these structures—and a detailed Glossary to help you with industry-specific definitions.

The Updated Edition of The ETF Book has everything you need to develop a winning investment strategy. Each chapter is filled with new insights on different types of ETFs and practical advice on how to select and manage them. Reflecting the most recent changes in this field, the Updated Edition of The ETF Book will prepare you to build a solid portfolio of ETFs that will benefit you for years to come.


Product Details

  • File Size: 4044 KB
  • Print Length: 416 pages
  • Publisher: Wiley; 1 edition (May 18, 2009)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B001BRD7QA
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Not Enabled
  • Lending: Enabled
  • Amazon Best Sellers Rank: #747,249 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
52 of 56 people found the following review helpful
5.0 out of 5 stars The ETF Book December 30, 2007
Format:Hardcover
Let me say at the outset that I am NOT a professional investor, that I HAVE invested in individual securities as well as mutual funds for forty years, that I now, as a retiree, restrict myself to annuity income and mutual fund investments (mostly passive), and that I have not yet purchased ETFs, though Ferri's book convinces me ETFs could perform a useful function in my portfolio.

If, like me, you have not yet invested in ETFs but want to know how they are constructed, how they function, and what role they might serve in your portfolio, then Rick Ferri's book is the FIRST place you should go for a comprehensive guide to understanding ETFs.

Ferri's book can be read in, or through depending on the reader's interests. By this I mean his book divides into four free-standing, but continuous, parts. The first part deals with ETF Basics--the history, mechanics, and potential benefits and drawbacks. Part Two, a real eye-opener for this reader, focuses on index construction and provides an index strategy box akin to how Morningstar analyses mutual funds. Part Three broadens the discussion to styles and choices--from broad domestic/global indexes to equivalents of slice and dice strategies. Part Four shows, in detail, how investors can incorporate ETFs into their asset allocation plan--whether they are inclined to passive, active, or a combination of portfolio strategies.

Thankfully, Rick Ferri goes to great pains to communicate clearly with his readers. To my mind, he has no axe to grind, although as a professional portfolio manager he advocates passive investing. Ferri provides many alternative portfolios (passive, active, combo) spread along a continuum of life-cycle investing.

It certainly speaks well of this fine book that it receives the ringing endorsements of the likes of Don Phillips, David Blitzer, and Anthony Rochte, Senior Managing Director of State Street Global Advisors. Robert Uphaus
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21 of 21 people found the following review helpful
4.0 out of 5 stars This is my 2nd book written by Rick Ferri January 8, 2008
Format:Hardcover|Verified Purchase
Rick Ferri has done it again. I got this book as I was looking actively for a good "introductory" book on ETFs. I already read Rick's "All About Asset Allocation" and like it very much. So I did not hesitate to preorder this book.

This book does a great job in INTRODUCING indexing and ETF's. It covers a lot of ground about various types of ETFs their pros and cons. There are lot of finer points spread throughout the book which are interesting for people starting new and are hard to come across on web for an average web user like me - eg: pros and cons of Vanguard ETF (VIPER) structure where its ETFs are another class of shares of its index mutual funds. I would have rated this 5 stars except for some repetition of text multiple times in multiple chapters about types of indexing etc in Parts II and Part III of the book. Model portfolios section could have been dealt better.
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25 of 30 people found the following review helpful
5.0 out of 5 stars An excellent book for the ETF investor January 13, 2008
Format:Hardcover|Verified Purchase
I love ETF investing. This book is a must-read if you're interested in investing in ETFs. You'll no doubt want to read other books too. But this is the cornerstone of the library of the ETF investor.

The book is well written and arranged nicely. It's a good read and a great reference.

It gives you some sample life cycle investing portfolios, which I find most useful.

You'll find the benefits and the drawbacks of ETF investing. You'll learn about the different types of ETFs.

You'll also learn about the different management styles available.

I would have liked more information on fixed income investing. I find there's not much available on that. I also find there isn't anything about defensive investing, which we need right now.

There is help with asset allocation but I suspect you'll want to buy a book that devotes itself entirely to that subject.

I keep the book near my left hand as I readjust my portfolio and when I'm considering a fund.

I highly recommend this great book.
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19 of 23 people found the following review helpful
3.0 out of 5 stars Great content; poor editing May 4, 2009
Format:Hardcover|Verified Purchase
I found this book helpful to better understand some of the nuances about ETFs that are quite complex, but I couldn't help noticing the many spelling and grammatical errors that were present throughout the text. It seemed like this book was quickly thrown together so that it could be one of the first comprehensive and detailed looks at a new investment phenomenon that is gaining ground on mutual funds and closed-end funds.

The only problem is that some of the errors in this book go beyond simple spelling mistakes, and may even lead to some serious investment mistakes and negative tax implications if readers aren't otherwise familiar with account types that the author misrepresents in this book. For example, Traditional IRAs are not non-taxable, rather they are tax deferred. Be careful, because if you read this book and invest in an IRA because you think it is non-taxable, you will be in for quite a ruid awakening. These kinds of mistakes undermine an otheriwse helpful and useful text about ETFs.

My other problem with this book is the clear bias the author expreses in favor of passive investment strategies. Without the bias, the book would have felt more academic and objective, and not so skewed.

The book is worth reading, but be careful, because there are some serious flaws that can lead to trouble here.
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6 of 6 people found the following review helpful
4.0 out of 5 stars Interesting book May 10, 2008
Format:Hardcover
The book is a good starters guide to ETFs. You should get the book if you know next-to-nothing about ETFs. However, if you feel that you know quite a bit, then this book may not be for you, as it is of breadth above depth.

It covers sufficient ground, and one thing that stood out is the author's commitment to writing from the small investor's point-of-view, and how to protect our best interests. He guides and reminds us about what our best interests are, and there are very relevant references to mutual funds and general investment considerations.

The text is a tad too repetitive, but I guess that it's a slight weakness in writing style and shouldn't count against the overall qualities of the book. Importantly, he presents technical information in extremely easy-to-understand methods, such that everything is layman-style and smooth-going.

However, if you are non-American (I'm Singaporean), it may lose a little value to you. There is little on the merits and demerits of international funds. As emerging market ETFs may be lucrative, it's a small pity.

To be fair, the book's purpose is more informative and hand-holding than one telling you the ETFs to purchase, so it's real and sincere in a way.
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Most Recent Customer Reviews
4.0 out of 5 stars Great Beginners guide to ETF trading!
Highly recommend this book for anyone seeking to gain a working knowledge of the rules of ETF trading. Read more
Published 1 month ago by W. Sholar
3.0 out of 5 stars Some solid nuggets, but needs more editing.
The book has useful fundamental and universally-applicable information that helps understanding the mechanics and inner-workings of ETFs and the market participants involved with... Read more
Published 2 months ago by a book reader
5.0 out of 5 stars I bought a lot investment books, and I usually ...
I bought a lot investment books, and I usually give them 1 or 2 stars, but this one honestly teaches you how to distinguish the real ETFs from the fake ones. Read more
Published 4 months ago by Steve
4.0 out of 5 stars Four Stars
Technical.
Published 4 months ago by keepfrozzin
5.0 out of 5 stars Great overview and detail for the home investor and a bit beyond.
All you need is this book. I bought his indexing book also but this one covers it all. A good complete treatment by someone that seems honest, not-reckless, and on your side. Read more
Published 5 months ago by Shock Writer
5.0 out of 5 stars The ETF Book
This book contains everything you want to know about ETFs. It provides a lot of history of ETFs and covers the subject very well. I learned a lot about ETFs. Read more
Published 9 months ago by Herb
3.0 out of 5 stars Peculiar biases undermine recommendations
Objective presentation of material is thorough and clear. Very good overall. The author expresses some biases that would undermine his advice, but fortunately and appropriately... Read more
Published 13 months ago by D. R. Martz
5.0 out of 5 stars Great book on ETF
This is a great book on ETFs. I understand index investing, but with so many new options I wanted to understand more about sector and exotic ETFs. Read more
Published on September 10, 2012 by Sarah D
5.0 out of 5 stars Studying ETFs
This book should be required reading before anyone invests in ETFs. If you've lost money using VXX, then you already know you didn't understand how it operates. Read more
Published on December 9, 2011 by Mr Nomad
5.0 out of 5 stars Lots of Information but some confusing editing errors
Having recently finished All About Asset Allocation, I decided to take a look at The ETF Book and I'm glad that I did. Read more
Published on May 27, 2011 by Ricardo
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More About the Author

Richard Ferri is the founder of Portfolio Solutions, LLC (www.portfoliosolutions.com), a low-fee investment advisory firm based Troy, MI. Portfolio Solutions manages close to $1 billion in separately managed accounts for high-net-worth individuals, families, non-profit organizations, and corporate pension plans. The firm specializes in analyzing and using low-cost and tax-efficient index funds and ETFs to build wealth for clients.

Mr. Ferri earned a Bachelor of Science degree in Business Administration from the University of Rhode Island and a Master of Science degree in Finance from Walsh College. He also holds the designation of Chartered Financial Analyst (CFA). Prior to joining the investment community in 1988, Rick served as an officer and jet pilot in the U.S. Marine Corps and is now retired from the Marine Corps Reserve.

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