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Winning with ETF Strategies: Top Asset Managers Share Their Methods for Beating the Market (Minyanville Media) Hardcover – March 29, 2012


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Product Details

  • Series: Minyanville Media
  • Hardcover: 224 pages
  • Publisher: FT Press; 1 edition (March 29, 2012)
  • Language: English
  • ISBN-10: 0132849186
  • ISBN-13: 978-0132849180
  • Product Dimensions: 9.2 x 6.4 x 0.7 inches
  • Shipping Weight: 1.1 pounds (View shipping rates and policies)
  • Average Customer Review: 3.3 out of 5 stars  See all reviews (19 customer reviews)
  • Amazon Best Sellers Rank: #881,472 in Books (See Top 100 in Books)

Editorial Reviews

From the Back Cover

“ETFs permit investors to zero in on groups and concepts, without having to find, select, and manage the 30 or 40 stocks associated with them. Isaacman spells out the ETF strategies for investors looking to invest in specific types of stocks, without the full-time job of finding, selecting, and managing them. Isaacman’s ETF approach and strategies give investors the ability to ‘play’ the market from the top by picking tradable ETFs and having fund managers do the day-to-day work. A coach’s playbook for ETFs: You decide the plan, and the funds execute the plays.”

—Howard Silverblatt, Senior Index Analyst, Standard & Poor’s Indices

 

“As Chief Executive of an investment firm dealing in China and Asian emerging markets, I know it is valuable to have portfolios diversified outside of the United States. Although the United States is and will continue to be important, our clients need and demand global participation in their investing and trading needs. ETFs fill the need of having global exposure without having to spend time and resources researching individual companies. We find our services are more valuable teaching our clients how to use ETFs in their investing activities.”

—Robert Angle, President, White Pacific Securities

 

Winning ETF Strategies from the World’s Best ETF Investment Managers

 

• New ways to profit in unsettled markets, uncover hidden opportunities, and access

non-market asset classes

• Build absolute return and mitigate risk

• Discover ETFs designed to outperform the market, not just mirror it

• For all individual investors, brokers, money managers, and hedge fund managers

 

Using today’s newest Exchange Traded Funds (ETFs) investing strategies, you can earn higher returns, reduce your risks, manage sideways or downtrending markets, diversify into new asset classes and emerging economies, and achieve investing goals that are difficult to reach any other way. Now, for the first time, more than 20 of the world’s leading ETF investors share their best techniques and hottest ETF picks. You’ve seen them on CNBC, Fox Business, and Bloomberg, read their insights in Barron’s and The Wall Street Journal, and heard them praised far and wide. Now, you can put their extraordinary ETF investing knowledge to work for you!

About the Author

Max Isaacman is a Registered Investment Advisor for individuals and institutions and is associated with East/West Securities in San Francisco. He was a Financial Consultant at Merrill Lynch, a Partner and Office Manager at SG Cowen, and a Vice-President at Lehman Brothers and worked in other positions in the investment community. Isaacman was a columnist for The San Francisco Examiner and wrote for many publications, including Delta Airlines’ SKY magazine. He has spoken at CFA Institute events, CBS MarketWatch, Tech TV, the FTSE Global Index Conference in Geneva, Switzerland, and other places. Winning with ETF Strategies is his fourth book.


More About the Author

I was a stock and bond broker and vice president at Lehman Brothers, a broker at Merrill Lynch, and a broker, office manager, and partner at Cowen & Company. I am a Registered Investment Advisor and a broker at Portsmouth Financial Services in San Francisco. I wrote for the award-winning newspaper "The San Francisco Examiner," "Delta Airlines SKY Magazine," and other periodicals, and write for minyanville.com. I wrote the first book on ETFs for McGraw-Hill, and three other stock market books.

My critcially aclaimed novel "Blizzard of Money" is available on Kindle.

Customer Reviews

There are 8 chapters, but the first 6 chapters cover only 50 pages (out of 200 pages).
l2
If they say we believe in efficient markets but we are charging higher fees to replicate an index than an index fund, they will not have any business.
C. Ang
This is a good book from an ETF standpoint as well as interesting investment information.
promethian man

Most Helpful Customer Reviews

11 of 11 people found the following review helpful By Gaetan Lion on February 2, 2012
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This short book on ETFs is divided in two different halves. The first one covering seven of the eight chapters in the book is focused on two themes:

1) The assumed advantage of equal weighted or fundamental weighted indices over traditional market cap weighted indices; and

2) The advantage of extensive market timing in different investment sectors and asset classes facilitated by the broad universe of ETFs vs a traditional buy and hold strategy.

The second half of the book is an interesting survey of 23 different investment managers that use ETFs as their main investment vehicle to create various investment asset allocations.

The ongoing debate regarding indices structure is interesting. The author interviews advocates on the equal weighted or fundamental weighted side. Their main argument is that this approach ensures you don't overweight stocks that have bubbled. They state that the top 50 stocks by market cap account for 50% of the S&P 500, and they consider that excessive. Their index structures correct that. They also state their index structures have greatly outperformed their market cap weighted alternatives.

The whole truth is not straightforward. Within the book, they often praise the Rydex S&P equally weighted index fund (RSP) as they state it has outperformed the S&P 500. However, the RSP is a completely different animal. Within the RSP the largest market cap has the same weight as the smallest one or 1/500th of the whole index. This gives the RSP a strong Mid and Small caps tilt. If you now compare the RSP performance to a Mid cap index fund (VSMAX) or Small cap one (VIMSX), RSP advantage disappears. Its performance is somewhere in between the S&P 500 and either a Small or Mid Cap index. That's all there is to this.
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5 of 5 people found the following review helpful By Gadgetman VINE VOICE on March 20, 2012
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This book provides a good general introduction to ETFs with its emphasis on explaining the Equal-weighted and Cap weighted Indexes as well as their pros and cons. It would have been more helpful if it provides a broader coverage of the various types of ETF (which are plenty nowadays) such as the leverage and inverse ETFs which are gaining popularity in recent years.

The remaining half of the book focuses on the interviewing of many asset managers involved with ETF investment and trading. Even though the book claims that they are top asset managers, it does not support the claims by showing their actual performance track records. I am not able to extract useful information through such interviews as it gives me an impression that they are more of an advertising campaign describing the general principles and methodologies the asset managers use. I am an active trader and investor on various ETF instruments. I am not able to find a clear set of rules nor instructions on how to implement a tradable strategy in this book. Hence using the title of "Winning with ETF Strategies" is bit over-stretching in my opinion.
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2 of 2 people found the following review helpful By l2 TOP 1000 REVIEWER on April 4, 2012
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This is an odd sort of book. There are 8 chapters, but the first 6 chapters cover only 50 pages (out of 200 pages). These 6 chapters are a tutorial on ETFs that is pretty good for beginners. The last 2 chapters of the book (150 pages) seems like a loosely organized set of interviews with various money managers who use ETFs in their work. There is some good information in there, but the writing style makes it very hard to learn from. This book could be improved a lot by distilling and organizing this material to make it easier to follow.
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2 of 2 people found the following review helpful By promethian man VINE VOICE on February 9, 2012
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
This is a good book from an ETF standpoint as well as interesting investment information. I thought chapter 2 on how markets move was important in elucidating bull markets, bear markets and sideway markets as well as sector analysis and asset allocation. I was impressed how concise and clearly this chapter is written. It enhanced my understanding of these familiar topics. I also thought the authors decision to choose the topic of equal weighted indexes vs cap weight indexes was a good idea. Again, the author is lucid in the explanation of this important topic. I think the first seven chapters to be worth the purchase of the book. The final chapter is longer than the first seven chapters combined and discusses specific firms/financial advisors/money managers. This chapter must have taken a tremendous amount of research, however there are no tables or listings to compare different asset requirements for investors, investment styles, etc. This long final chapter is compilation of a narrative of each firm with their investment approach which in many cases was difficult to discern exactly or proprietary. It gives the investor considerable information however the reader would have to read about each company and take notes and make their own tables to compare the offerings. Nonetheless, obtaining this encyclopedia of ETF asset managers is readily available in this book.
More information about ETFs e.g. ETF web sites, as well as new ETF offerings that offer creative asset allocations would be of interest. My copy of the book had no index which it needs.
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3 of 4 people found the following review helpful By Liberty4all VINE VOICE on February 2, 2012
Format: Hardcover Vine Customer Review of Free Product ( What's this? )
I almost never give one star reviews, but this book is one of the rare exceptions. From the subtitle (Top Asset Managers Share Their Methods for Beating the Market), I expected this would be if not a Market Wizards: Interviews with Top Traders for ETF managers, at least some thought-provoking interviews with outstanding ETF asset managers.

The book is actually something quite different. The first third of it is a basic primer on ETFs. For someone who has little knowledge of ETFs and the debate between cap-weighted indices vs equal weight and fundamentally weighted ETFs this part could be helpful. However, you can get this material all over the internet and it certainly doesn't break any new ground.

The final two-thirds of the book features "interviews" with "top" asset managers. I put "interviews" in quotes because these are anything but interviews. In reality they are little more than dull public relations puff pieces that could have been written by the firms themselves. In addition, the word interview implies some exchange of ideas, but here there is no question and answer, no back and forth, no real exchange of ideas at all. The sketches rehash virtually every investment cliche you've ever heard. I learned absolutely nothing of any interest whatsoever.

Finally, there is no mention or discussion of how these "top" asset managers were chosen to be in the book. There are no track records, no performance figures and nothing that leads one to believe these managers stand out in any way whatsoever. They really seem like random profiles of managers that can now claim their firm has been written up in a book as a marketing gimmick for potential clients. I'm sure there are some managers using ETFs in very creative ways. If so, they aren't in this book.
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