- Hardcover: 240 pages
- Publisher: McGraw-Hill Education; 1 edition (October 31, 2014)
- Language: English
- ISBN-10: 0071849440
- ISBN-13: 978-0071849449
- Product Dimensions: 6.2 x 0.9 x 9.2 inches
- Shipping Weight: 1 pounds (View shipping rates and policies)
- Average Customer Review: 320 customer reviews
- Amazon Best Sellers Rank: #24,277 in Books (See Top 100 in Books)
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Dual Momentum Investing: An Innovative Strategy for Higher Returns with Lower Risk 1st Edition
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"I ran the numbers for this strategy myself and they are quite impressive. The back-test makes sense, as do the behavioral reasons for the momentum factor." - A Wealth of Common Sense
"Gary Antonacci's Dual Momentum Investing provides both a fantastic introduction to momentum investing, as well as a sophisticated discussion of and an approach to achieving risk-managed exposure to the anomaly across asset classes." - Alpha Architect
"Antonacci's extensive research and his clear-headed thinking have led to a book that every investor should read...The practically oriented investor will find a road map for moving ahead and staying out of really big trouble." - Reading the Markets
From the Inside Flap
After examining more than two-hundred years of data across dozens of markets and asset classes, the conclusion is clear: Momentum continually outperforms. However,most mainstream investors haven't had a way to fully discover and implement the benefits of momentum investing .. . until now! Whether you're an independent investor, investment professional, or money manager, Dual Momentum Investing enables you to consistently profit on major changes in relative strength and market trend.
Based on the award-winning work of Gary Antonacci, an expert in modern portfolio theory and optimization, this groundbreaking guide presents an easy-to-understand,straightforward model that transforms momentum concepts into an actionable investing strategy called Global Equity Momentum (GEM). By combining relative-strength momentum and absolute momentum, this unique methodology lets you take advantage of intra-market trends while avoiding large drawdowns. A disciplined implementation of his proven strategy enhances the ability of every investor to:
* Lock in profits and mitigate risk with a minimal number of switches per year among U.S. equities, non-U.S. equities, and bonds
* Establish meaningful control over investment risk once an asset's value begins to decline
* Remove emotional and behavioral biases from your decision-making,while taking advantage of these same biases in others to achieve exceptional returns
Each facet of GEM is explained in simple clarity using the perfect amount of supporting theory, historical analysis, and understandable data. Pragmatic techniques come to life with real-world relevance that both deepens your understanding of why dual momentum works and better prepares you for using it with your own investments. From picking a cost-effective brokerage firm, to making asset choices, to customizing your strategy as you near retirement--this reliable guide helps you do it all with the confidence you'll gain through repeated success.
You put a lot into earning your wealth, now take the nextstep with Dual Momentum Investing and properly protect it while it's working for you.
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Top customer reviews
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The reference notes, bibliography, and recommended reading sections make this an exceptional reference book and there is a great deal of thought provoking information that will likely challenge many investors commonly accepted beliefs.
Really well done, thank you for taking the time to research and write this!
In time, I believe this will be looked at as a true paradigm shift in the world of investing and investment management.
Dual Momentum investing (and momentum in general) try to address both issues. The momentum part tries to take advantage of the psychology of the market in which investors are attracted to things that are going up which means they tend to keep going up. Gary cites numerous examples where this is the case including research that goes back hundreds of years. So instead of waiting for something to return to the value it "should be" this approach rides whatever horse happens to be winning the race which historically results in good returns.
Dual momentum addresses draw downs by jumping off the horse when it starts to lose the race. It doesn't matter that the stock or ETF is "cheap" what matters is that it's getting cheaper. And while it's getting cheaper, this strategy tries to stay out of it.
Gary makes compelling arguments why his strategy is effective. It's worth reading even if you don't agree with his approach. The psychology of the market is important to how your investment performs.