The Hedge Fund Edge: Maximum Profit/Minimum Risk Global Trend Trading Strategies (Wiley Trading)

Book Description

Achieve higher returns with lower risk and take your profits globally.

A leading hedge fund trader offers a solid and profitable trading approach to the world markets.

"This is the best stock market book that I have read in a long time. Boucher lays it out clearly, concisely, and in a most interesting manner. A 'must read' for anyone who invests in the equities market." -Dan Sullivan Editor, The Chartist

"A leading practitioner offers rich theoretical insights and sound practical advice based on years of successful trading. Mark Boucher is that rare investment analyst who knows what really works in trading and can communicate it with authority and grace." -Nelson Freeburg Editor and Publisher, Formula Research, Inc.

The Hedge Fund Edge is an indispensable guide for any investor or trader who wants to consistently profit from the markets without having to undergo huge risks. Mark Boucher, hedge fund manager and well-known speaker on trading, provides readers with a solid methodology for achieving market-beating, long-run returns with risk that is substantially below the long-run risk of U.S. and global equities.

Boucher first looks at the limitations of traditional stock and bond investing, and then explains how to determine the safest and most profitable periods for investing in stocks in any country. He explains this strategy both conceptually and with an objective model that has been used to manage money successfully since the 1950s. He shows how to allocate funds among global equities at any given time while following safe, reliable, and profitable trends. The book also provides a thorough discussion of the Austrian Liquidity Cycle, an original combination of Austrian Economics, Economic Alchemy, and Liquidity Cycle Theory. Boucher explains how to use this theory to understand the major moves behind the markets and determine the most profitable market in which to invest.

The Hedge Fund Edge provides critical valuation and technical models as well as essential information on stock selection techniques to help readers identify which markets and stocks are both lower-risk and higher-performing. Boucher also describes, in detail, the impact of governmental policies on the markets and the connection between macroeconomic performance and investment performance. Also included are essential timing models for determining when to invest in gold, bonds, commodities, and other asset classes, as well as methods for allocating a portfolio with the goal of investing in the very best trends at any one point in time across all asset classes. The book emphasizes the power of diversification among asset classes, such as arbitrage funds, global hedge funds, different types of futures funds, distressed bonds, and other market-uncorrelated investments. Boucher explains how this diversification can be used to build a bullet-proof and highly profitable portfolio that returns consistently high profits with much lower than market risk. Boucher provides examples from his own real-time hedge fund trading experience and offers his performance as proof of what can be achieved via these techniques.

The Hedge Fund Edge melds market timing, vehicle selection, risk management techniques, economic insight and understanding, and tactical asset allocation into a totally new philosophy and approach that has been proven to produce spectacular gains with relatively low risk.

Customer Reviews:

Hands down this book is a keeper!!!.......2006-09-24

This book is not about investing in hedge funds. It does, however, teaches you how to invest like a hedge fund manager. This means you invest globally; you invest in variety of asset classes (equities, metals, bonds, VC, real estate, etc); you shift your investments depending on the market climate; and so on. Essentially, this is the "edge" Mr. Boucher was talking about. You, as an investor, are not encumbered to invest in any particular asset class, sector, country, or investment style as would other money managers do. This book gives you investment tools / models that you can use right away. Plus it also teaches you how to understand them so you can build your own tools as well, or at least be able to recognize when a tool stops working.

Mr. Boucher, THANK YOU for generously sharing your research and the ideas / techniques of other great innovators. Mr. "X" would have been very proud of you. Oh yeah, I like the "Coconut Price Index (CPI)" analogy - I almost died of laughing.

If Soros was a prof, Boucher was one of his 'C' students.......2004-04-27

Like many books written by practitioners, "The Hedge Fund Edge" provides some insight as to how one man makes his living, warts and all. By warts, I mean specious reasoning by the author. One of the warts in this book is a misunderstanding of basic macroeconomics. For example, Boucher presents capital input growth as productivity growth. The 'models' presented in the book are vapid space filler and could have been taken from an undergraduate's class presentation. All of the models could have been summarized neatly on one page rather than several dozen. Also, there are multiple typographical errors and citation errors throughout the book.

The author likely used the phrase 'hedge fund' to tap into a hot topic in order to sell more books. This book is not about hedge funds, it's about global macro trading. You can learn more about global macro trading in the preface to Soros' "Alchemy of Finance" than you'd get out of this entire book.

...on the ... rack.......2003-05-26

first, in boucher's defense, other reviewers have misunderstood the term "hedge fund" to mean "market neutral." the term "hedge fund" simply means the ability to go short in a portfolio. in that regard, the title is not misleading at all. this book does outline several short strategies based on an understanding of the liquidity cycle.

however, boucher, for as much as he espouses the austrian economic method, has forgotten that one tenant of that methodology is a total diregard for econometric forecasting. the relationships he defines in this book would have had many people in trouble in the early 2000s because, as the austrians state, what happened (past economic relationships) in the past does not have to happen in the future (these once dependable relationships may break down - with your money on the line). current monetary policy has been ineffective, and therefore, so would any of boucher's systems that rely on monetary indicators. these indicators would have been screaming "buy" the equity markets, while the equity markets themselves would have been screaming "sell us...now!"

that being said, the primary reason not to buy this book is that some of the systems that boucher gives are insightful logically, but dubious in execution. while he may give you a system, he does not give you all you need. the reader assumes that he is giving valid systems, with all pertinent information. but, he leaves certain important points out. for example, on page 138, he says that you should buy stocks when up volume on the NYSE is greater than 77% of total volume and then he gives past buy and sell dates for the strategy. after much testing, i figured out that he is not using total volume on the NYSE, but rather total volume less unchanged volume. in other words, total volume is up volume, down volume and unchanged volume for all shares trading on the NYSE. boucher's "total volume" is just up volume plus down volume. this makes a huge difference.

also, any time he uses 30-year t-bond data, good luck to you trying to figure out what he's actually using. the fed has a constant maturity series that goes back to 1977. boucher can go back to 1943 for this data. hmmmmmm. i'm sure he's using something, but i have no idea what. so, what good is the system if you don't know what he's using as the "30 year treasury yield"? and, through no fault of boucher, the 30-year is not issued any more.

he also relies quite heavily on the dow jones 20 bond index. this series was discontinued. this is not boucher's fault, of course, but just another reason to steer clear of this book.

i will say that i learned quite a bit from this book, however. it was fun to read. my problem simply resides with the somewhat tricky way that some of his systems are given. hey, i don't expect the guy to give away a proprietary system, but if you give a system, step up to the plate and tell the reader you're going to leave out some things (he actually does do this when he relays someone else's strategy). i find his method a bit disingenuous.

...

The title of this books seems to me to be misleading.......2003-03-02

I must agree with reviewer Omar Wanza. There is nothing in this book about statistical arbitrage, which is probably the most effective strategy used by hedge fund managers. Nor does it really talk much about many of the other methods used very effectively by hedge funds.

While the book covers a wide variety of topics pertinent to investing, its central thesis is that knowing and understanding the liquidity cycles of individual countries is of paramount importance in developing a portfolio strategy. When he talks about the liquidity cycle, the author is bascially talking about the business cycle. Due to the rise of the global economy, however, the likelihood that different countries will continue to have differing liquidity cycles is becoming more remote. Also, because it is extremely difficult, in practice, to predict any liquidity cycle, it would seem to me that the information in this book is only of limited value for any investment strategy.

The basic problem with this book is that it was written in 1999, which was not only before global investing became less profitable as a hedge fund strategy, but prior to the current bear market in equities. Based upon various demographic considerations, the author, Mark Boucher, predicted that a bear market in equities would be likely in the year 2005. Some of Boucher's assumptions regarding the relationship of liqudity cycles to various asset classes seem to me to be in need of adjustment based upon the actual economic events that have transpired in the last few years.

In one of the later chapters, he recommends a number of hedge funds, but the book would have been far more valuable if, instead of recommending various hedge funds, he had actually outlined the many different effective methods used by hedge fund managers to manage their own portfolios.

Although there are many potentially helpful things in this book, the title seems to me to be misleading, and I'm not sure that all of the theoretical considerations in it would necessarily pan out in the crucible of current market conditions, whereas certain hedge fund strategies, which are not even mentioned in the book, would probably be far more promising for today's environment.

Excellent Book.......2002-11-19

Hedge Fund Edge is an excellent book written by someone who manages millions of dollars and manages it quite well. I have seen his hedge funds performance and it is good especially in the bear market we have had the past two years (it is positive). The timing models and the philosophy behind them are excellent and very useful to every investor. As are his equity selection techniques which are very safe yet offer excellent potential returns. His explanation on why stocks are not always the best investment is invaluable and would have saved many people who have stuck with equity long-only managers who have done a miserable job of stock picking. I am an absolute return fan and recommend this book to anyone beginner to professional. Easily ranks in my top 5 books I have read on generating profits.

Book Description

This digital document is an article from Technical Communication, published by Society for Technical Communication on February 1, 2002. The length of the article is 1134 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Poor Richard's Creating E-Books: How Authors, Publishers, and Corporations Get into Digital Print. (Book Reviews).
Author: Doug Florzak
Publication: Technical Communication (Refereed)
Date: February 1, 2002
Publisher: Society for Technical Communication
Volume: 49 Issue: 1 Page: 116(2)

Distributed by Thomson Gale

Average customer rating:

Reviewed for eBook Reviews Weekly
Overwhelming

Poor Richard's Creating E-Books
Chris Van Buren , Jeff Cogswell , and Matt Wagner
Manufacturer: Top Floor Publishing
ProductGroup: Book
Binding: Paperback

Communications | Skills | Business & Investing | Subjects | Books

General | Computers & Internet | Subjects | Books

General | Publishing & Books | Reference | Subjects | Books

General | Arts & Photography | Subjects | Books

ASIN: 1930082029

Book Description

The e-book revolution is beginning—and with the information in this book, you'll be one step ahead of the rest. Electronic publishing is an exploding field with plenty of opportunities for authors, self-publishers, entrepreneurs, and other professionals.

But how do you get started? And once you have your content in e-book format, how do you promote it and sell it? With this book, you'll learn every phase of the e-book writing and publishing process—from creating manuscripts and e-book files to marketing and distributing online.

You'll get the essential information that you need to know, including: *What makes a good e-book. You'll find out what sells, what doesn't, and why. *How to choose e-book formats. We're a long way from a single e-book format that every e-book reader device and program can read. You'll become familiar with the different formats that are available and the pros and cons of each. *How to create e-book documents. Once you've selected a format, you'll need to know about the tools available for conversion and how to make your book looks as it should. *Where to find services for start-up e-publishers. Many people make a business of helping other people start and run their e-publishing businesses. You'll discover how to reach and benefit from them. *Where to distribute your e-books and how to market them. *What to look for in e-book publishing contracts and what you need to know about digital rights and copy protection.

E-publishing offers many advantages over traditional publishing, including: *The freedom to do your own thing your own way. *The ability to start small and grow. You don't have to start with dozens of books to be a successful e-publisher or e-author. *Easy entry. All you need is the desire, the information in this book, and perhaps a Web site. *No printing bills, no shipping, no storage—a publisher's dream! *Easy access to online booksellers and distributors. You don't have to go through a master distributor to enter the market. *Better author royalties, friendlier contracts. The economic benefits that publishers enjoy with e-book publishing are often passed along to the authors. *More control over how your work is published. With e-books you can participate in the editing, layout, and cover design of your book. *The ability to work from just about anywhere. You can sell your e-books from any location, including a secluded beach without a post office in sight (as long as you have an Internet connection, of course!).

With all these advantages, why wouldn't you get involved in the e-publishing revolution? Maybe you think the technology behind e-books is too intimidating? Well, it doesn't have to be. This book explains in geek-free, easy-to-follow language the e-book software and hardware devices—which ones offer what features, their pros and cons, who the major players are, and the file format particulars.

You'll discover that the Internet, e-book technology, and the information in this book make it possible for anyone (even the most technophobic) to self-publish remarkably cheaply and have a chance to reach just as many people as Stephen King's first e-book.

You will also be motivated and inspired by success stories from some of the leaders in the business. And the Appendices, with sample contracts, a list of e-publishers, and loads of e-publishing resource, are particularly helpful.

The coming years will see a dramatic change in the publishing industry. Will you be leading the pack or trying to catch up?

Customer Reviews:

Reviewed for eBook Reviews Weekly.......2002-11-24

Overall, Poor Richard's Creating E-Books is an extremely detailed look at how an author can create e-books using the vast amount of online resources available. Van Buren and Cogswell begin with an excellent explanation of what an e-book actually is, followed by an overview of the different e-book file formats, software, and hardware.

The step-by-step guide on converting manuscripts into e-books for the various reading devices contains valuable tips for self-publishers. The authors stress the importance of publishing a quality product and advise on how to maintain digital rights and register for ISBNs. In addition to crucial tips on how to effectively market your finished e-book, Creating E-Books wraps up by showcasing success stories and examining future trends in the industry. I definitely recommend this book -- I believe it would be a powerful addition to any e-publisher's resource library.

Overwhelming.......2001-05-27

If you're looking for a book to guide you through the thicket of self-publishing in ebook and print on demand formats, this book isn't it. It's full of facts but not very much nitty gritty know-how from those who have gone through the process, learned from their mistakes and now are sharing their wisdom with others.

Book Description

Retaining Your Foodservice Employees is the second in a series of three books by Karen Eich Drummond on Foodservice Employee Management. The other two titles are Staffing Your Foodservice Operation and Disciplining Your Foodservice Employees. Employee turnover represents a major concern for foodservice operators—particularly when you consider that half of all restaurant employees leave their jobs within the first 30 days. With firings or resignations come costs: expenses for recruiting and training a new candidate as well as overtime costs incurred while the position is vacant. And beyond the immediate dollar loss, high employee turnover reduces employee morale and job performance, which can result in a significant loss of customers—and profits. Retaining Your Foodservice Employees recognizes that successful foodservice operations can no longer treat employees as disposable assets, especially in light of today's dwindling pool of workers. This quick-reference guide shows you a wide range of strategies for increasing a staff member's employment period and keeping turnover to a minimum. This innovative volume identifies what today's employees want out of their jobs. You'll get a clear understanding of workers' needs that include

interesting work
a manager who respects, trusts, and cares about them
clearly communicated performance goals
good pay and benefits
and comfortable working conditions.

You'll also find specific actions you can take to meet these employee needs such as listening to your employees, coaching them for better performance, and using your supervisory skills to encourage positive, motivational teamwork. You'll learn how to inform and involve employees and use reward programs and career ladders to retain productive employees. Practical worksheets at the end of each chapter help you idenfity—and correct—specific areas where your business can improve. Actual on-the-job examples of improved communication and successful reward programs will help you generate ideas that you can apply to your own program. As a complete guide to a critical industry-wide problem, Retaining Your Foodservice Employees will be essential reading for all commercial and institutional foodservice managers and owners.

Customer Reviews:

Hierarchy of Effect.......1996-10-25

brand attitud

Book Description

Take Charge of Your Money; Take Charge of Your Life. One of the fundamental purposes of this book is to inspire you to take charge of your money. In the process, you will be taking charge of your life. Regardless of your age, if you haven't yet mastered the money game, it is not too late to make progress toward financial freedom. The younger you are, the easier it will be. This is because time is on your side, and because you haven't developed a lifetime of bad money habits. If youare young, or looking for financial tips at any age, this book can get you on the right track and help keep you there. Chapters included: *Defining Financial Independence *Now Isn't the Future *The Basics *Debt: Destroyer of Goals * Playing Good Defense *Choices and Strategic Decisions *Saving, Cash Flow, and Budgeting *Budgets: Nuts and Bolts *Mistakes to Avoid *Tactical Suggestions *Life Stages: What to Do and When to Do It *Hints and Tips *Money Nests *Investing *Stocks and Bonds Also included: Suggested Reading, Resources, and an Index.

Book Description

More and more, special events courses are being taught in hospitality and events management courses.

Book Description

These essays reveal how China's Communist Party selected a new generation of leaders in late 2002 to maintain the position of a regional and world power. They explain how China's leaders are promoting a market economy and undertaking gradual political reforms and note the problems they are having in handling mounting political corruption, spreading unemployment, growing disparity of wealth and income, and a crisis of belief.

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