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Exchange Traded Funds and E-Mini Stock Index Futures (Hardcover)

by David Lerman (Author)
4.0 out of 5 stars See all reviews (7 customer reviews)

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Exchange Traded Funds and E-Mini Stock Index Futures + Understanding E-Minis: Trading to Win + Day Trade Futures Online (Wiley Online Trading for a Living)
Price For All Three: $94.28

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Editorial Reviews

Review
The publishing of Exchange Traded Funds and E-mini Stock Index Futures provides investors, retail and institutional alike, great insight as to the structural advantages and applications of these two innovative investment and trading instruments. The launch of these products continues the trend of democratization of index investing empowering more investors to capitalize on the virtues of indexing. Mr. Lermans book is a great reference tool to gain a better understanding of these exciting products. (Nick Lopardo, Vice Chairman, State Street Corporation, and Chairman & CEO, State Street Global Advisors)

This book is a must-read for anyone thinking of investing/trading in Exchange Traded Funds (ETFs) and E-mini stock index futures! Lerman combines excellent research with practical examples to provide a comprehensive analysis of one of the fastest growing products in all of finance. (Jay Baker, Vice President of Exchange Traded Funds Marketing, Spear, Leeds & Kellogg)

David is one of the most powerful communicators in the industry. His succinct style and practical examples make this book a must-read for anyone thinking of investing in ETFs and E-mini stock index futures. Standard & Poors is proud to have played a role in the success of these innovative and exciting new products. (Shirley Petersen, Vice President, Global Licensing, Standard & Poors Corp.)

Heres a great guide for those looking to get started in index investing and to learn how by using Wall Streets most successful new investment vehiclesexchange traded funds and E-mini stock index futures.(Erin Arvedlund, Staff Writer, Barrons magazine)

The ownership of index funds is a must for all long-term investors. David Lerman has done a terrific job of explaining everything you need to know in order to take advantage of the broad array of index fund products on the market. He shows just how simple it is to be a participant in funds that routinely outperform nearly every money manager in existence. (Lawrence G. McMillan, author of McMillan on Options and President, McMillan Analysis Corp.)

Product Description
Praise for EXCHANGE TRADED FUNDS and E-MINI STOCK INDEX FUTURES

"The publishing of Exchange Traded Funds and E-mini Stock Index Futures provides investors, retail and institutional alike, great insight as to the structural advantages and applications of these two innovative investment and trading instruments. The launch of these products continues the trend of democratization of index investing empowering more investors to capitalize on the virtues of indexing. Mr. Lerman’s book is a great reference tool to gain a better understanding of these exciting products."–Nick Lopardo, Vice Chairman, State Street Corporation, and Chairman & CEO, State Street Global Advisors

"This book is a must-read for anyone thinking of investing/trading in Exchange Traded Funds (ETFs) and E-mini stock index futures! Lerman combines excellent research with practical examples to provide a comprehensive analysis of one of the fastest growing products in all of finance."–Jay Baker, Vice President of Exchange Traded Funds Marketing, Spear, Leeds & Kellogg

"David is one of the most powerful communicators in the industry. His succinct style and practical examples make this book a must-read for anyone thinking of investing in ETFs and E-mini stock index futures. Standard & Poor’s is proud to have played a role in the success of these innovative and exciting new products."–Shirley Petersen, Vice President, Global Licensing, Standard & Poor’s Corp.

"Here’s a great guide for those looking to get started in index investing and to learn how

by using Wall Street’s most successful new investment vehicles–exchange traded funds and E-mini stock index futures."–Erin Arvedlund, Staff Writer, Barron’s magazine

"The ownership of index funds is a must for all long-term investors. David Lerman has done a terrific job of explaining everything you need to know in order to take advantage of the broad array of index fund products on the market. He shows just how simple it is to be a participant in funds that routinely outperform nearly every money manager in existence."–Lawrence G. McMillan, author of McMillan on Options and President, McMillan Analysis Corp.

See all Editorial Reviews


Product Details

  • Hardcover: 288 pages
  • Publisher: Wiley; 1 edition (September 14, 2001)
  • Language: English
  • ISBN-10: 0471442984
  • ISBN-13: 978-0471442981
  • Product Dimensions: 9.1 x 6.2 x 1.2 inches
  • Shipping Weight: 1.4 pounds (View shipping rates and policies)
  • Average Customer Review: 4.0 out of 5 stars See all reviews (7 customer reviews)
  • Amazon.com Sales Rank: #397,244 in Books (See Bestsellers in Books)

Inside This Book (learn more)
First Sentence:
In 1973, Burton Malkiel published the first seven editions of A Random Walk Down Wall Street. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
midsize stocks, expense feet, theoretical premium, underlying cash index, stock index products, performance bond margin, using stock index futures, total cash dividend, trading index futures, other cash distribution, theoretical fair value, special opening quotation, cash drag, average daily volume, adverse price move, custody fee, underlying index, bond margins, million shares per day, index arbitrage, underlying basket, annual expense ratio, authorized participant, stock index futures contracts, redemption process
Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, Dow Jones, E-Mini Nasdaq, Clearing House, Wall Street, Barra Value, State Street Global Advisors, Bank of New York, Structure Open-end, Hong Kong, General Electric, Merrill Lynch, Morgan Stanley, Barra Growth, Susquehanna Partners, Warren Buffett, Manager Barclays Global Investors, Mix Stocks, Depositary Large-cap, Hull Trading, Index Products Marketing, Mutual Qualified, Chicago Stock Exchange, Goldman Sachs, Treasury Direct
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Customer Reviews

7 Reviews
5 star:
 (3)
4 star:
 (3)
3 star:    (0)
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Average Customer Review
4.0 out of 5 stars (7 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
22 of 23 people found the following review helpful:
4.0 out of 5 stars An introduction for beginners, February 12, 2002
If you are new to the world of ETF's and E-Mini index futures, this book will shed much light on these instruments. If, however, you are a trading veteran with knowledge of these markets, you have no need for this book as it simply introduces the instruments in basic format and details.
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20 of 21 people found the following review helpful:
5.0 out of 5 stars Investors and Traders Will Love This Book, November 29, 2001
By andy cis (Chicago, IL) - See all my reviews
I've attended several of Mr. Lerman's stock index seminars that he has done for the Chicago Mercantile Exchange--I agree with one of the endorsers that stated that he is a powerful communicator. He has translated his gift for teaching investment/trading principles into written form. Exchange Traded Funds and E-mini Stock Index futures was not only highly educational, it will help boost my investment returns and help save thousands of dollars in annual fees/expenses as well. I particularly liked the asset allocation section and appreciated how easy it is to construct portfolios with Spiders, QQQs and other ETFs. The best parts though were the multitude of strategies for basic investors all the way up to the more advanced trader. The sections on hedging portfolios against a bear market and spreading small/midcaps vs. large caps were easy to comprehend and implement. With small and mid-sized stocks outperforming the large caps YTD 2001, and in 2000, these types of strategies are very germaine. There are also tons of great statistics, graphs and an excellent section on Risk--the most ignored factor in investing. For the advanced investor he also explains fair value and index arbitrage in very easy to comprehend language. Overall, great job...well worth the time and money spent!
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22 of 24 people found the following review helpful:
5.0 out of 5 stars Excellent Read, May 9, 2002
By Thomas B. Conway (Rockville, MD United States) - See all my reviews
I happened to pick up this wonderful book while in Chicago recently. In browsing through the introductory pages, I smiled at the references to both Warren Buffett and Jack Bogle. Now here, I thought, is someone who "gets it". Buy this book and read it. It is worth every penny. Amidst today's cacaphony of financial marketing, Lerman's voice emerges from these pages with refreshing honesty, simplicity, and reason.
Those trying to educate themselves in the area of personal finance and investment should read this book carefully. For conservative investors as well as for those inclined to a bit of speculation on occasion, this book is very well written and informative.
Following up on the themes that, in the long run (emphasis), economic fundamentals drive returns; that larger, well-established, actively traded markets are, over time (emphasis), highly efficient; and that costs matter greatly when assessing net performance over extended periods; Lerman does an excellent job of explaining the rapidly developing role of ultra low-cost, exchange traded funds (ETFs) as part of any core indexing program. At the same time, he carefully exposes the many hidden (and, unfortunately, rising) costs lurking in most mutual funds today.
Still, Lerman wisely acknowledges, in the short term things can and do happen. While over long periods of time certain markets may be extremely efficient, the difference between that and what may happen in the near term is, as Buffett points out, the difference between day and night. After all, we are inescapably human, and fear and greed will never be completely expunged from our collective psyche. Sudden, unexpected events can result in major market and/or sector security specific swings, and it is during those times that patient investors as well as prudent speculators can occasionally reap outsized returns. Here again, ETFs (as well as the related E-Mini Stock Index Futures for more enterprising individuals) can help.
In short, by building a long-term, broadly-based core portfolio around low-cost ETFs and perhaps a few well-chosen securities and/or money managers (particularly in less efficient markets), and by then (for the enterprising investor) complementing such a portfolio with the occasional, more speculative foray, whether by utilizing ETFs, E-Mini Stock Index Futures, or other means, an intelligent individual should be able to navigate successfully today's choppy financial waters.
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Most Recent Customer Reviews

4.0 out of 5 stars Good Foundational Information
I won't complain about this book at all. It has very good basic information on trading the futures market. Read more
Published 1 month ago by Brian D. Kelley

1.0 out of 5 stars E-BOOK HAS PROBLEMS
I recently purchased the e-book since I'm located overseas (in Saudi Arabia) and postage is sometimes more than the cost of the books. Read more
Published on December 15, 2003

5.0 out of 5 stars Outstanding for biginners in ETFs and Emini futures
This is a well written book and easy to read about the history of ETFs and Emini futures. The author describes the creation of the likes of SPY, QQQ, SMH. Read more
Published on December 19, 2002 by J. Boulos

4.0 out of 5 stars good book for beginner
good book for beginner who wants to know about ETFs (like me). helped me in reviewing my holdings.

satish paul

Published on September 1, 2002 by forweekend

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