ETF Strategies and Tactics, Hedge Your Portfolio in a Changing Market (Innbundet (stive permer))

Laurence M. Rosenberg is former chairman of the Chicago Mercantile Exchange and served on the Exchange's Board for more than 20 years. He is currently involved in international consulting through his own Chicago-based company, LRosenberg Consulting. Neal Weintraub teaches at the Chicgo Mercantile Exchange and is director of education and strategy for World Wide Associates, Ltd. He is the author of Tricks of the Active Trader (McGraw-Hill). Andrew S. Hyman is marketing director at Fiske Walter Capital Management. He also holds institutional and public seminars on exchange-traded funds.

In just a decade, the exchange-traded funds (ETFs) market has grown from one billion dollars to more than half-a-trillion dollars. While previous books have provided introductions to and listings of ETFs, ETF Strategies and Tactics offers practical guidance on how to invest in these funds and use them to balance your portfolio. Written by a powerhouse authorial team, ETF Strategies and Tactics thoroughly covers the ins and outs of ETFs, detailing how they work, their distinctive characteristics, who trades them, who owns them, and their advantages and disadvantages compared with other investment vehicles. As markets evolve, new ETFs come and go. This authoritative reference will keep you on top of your game by providing focused decision-making techniques that help determine the viability of any ETF, including its value in sector and international investing. While laying out a proven, systematic ETF investment plan, ETF Strategies and Tactics covers such valuable topics as: ETFs vs. mutual funds How ETFs are developed, what types of indexes are used, and the costs that determine returns How ETF regulations can help investors spot red flags in a fund and avoid tax problems The underlying tools of every ETF that can contribute to effective trading and minimized costs and taxes The proper use of ETFs based on an investor's goals and his/her ability to manage risk The unique short-selling opportunities associated with ETFs ETF options How to trade ETFs in the European market Inverse ETFs that go up when the market goes down Complete with one-on-one interviews with professionals from major ETFs, as well as a number of valuable appendixes, ETF Strategies and Tactics is a unique guide you will keep at your fingertips during your day-to-day activities.

Preface Foreword I ntroduction Part I: ETF Fundamentals Chapter 1: Basics of Exchange Traded Funds (ETFs) 1. Origins 2. Vanguard and Indexing 3. Growth of ETF Market 4. Implication of Rise of ETFs for investment market Chapter 2: ETFs and Mutual Funds 5. Similarities 6. Differences 7. Continuous Pricing Chapter 3: ETF Structures and Costs 8. How are they developed? 9. Indices 10. Costs 11. Different types of structures Chapter 4: ETF Varieties and common examples 12. Index ETFs 13. Closed-End ETFs 14. Auction Rate Preferreds Chapter 5: ETF Regulation 15. US ETF Regulation 16. SEC 17. NASD 18. Other 19. European ETF Regulation 20. Other regulation Part II: Practical Aspects of Using ETFs Chapter 6: ETF Selection 21. Aligning ETFs with investment strategy Chapter 7: Intelligent ETF Purchasing and Selling 22. Looking at Costs 23. Looking at Structures 24. How to make and intelligent decision on which instruments to use 25. Execution Chapter 8: Technical and Fundamental Analysis of ETFs 26. Fundamental analysis 27. Technical Analysis Chapter 9: Trading Overseas ETFs 28. Practical Aspects 29. Foreign Exchange Risks Part III: ETFs Place in Your Portfolio Chapter 10: Assessing Investment Goals 30. Using ETFs requires understanding of investment goals 31. Determining investment goals 32. Risk management Chapter 11: Using ETFs to manage portfolio risk 33. Markowitz and portfolio theory 34. Diversification 35. Hedging Chapter 12: ETF Strategies 36. Long 37. Short 38. Spreading Chapter 13: Understanding the uses and abuses of ETFs 39. Using and index fund vs. ETFs 40. John Bogle discussed how ETFs are the growing part of the index universe, while they appear to be used more for speculation 41. Does the user want a broad index that captures the market Part IV: Advanced ETF Topics Chapter 14: Options 42. Basic options principles 43. Options Strategies 44. Using ETF options Chapter 15: Sector Investing 45. Sector investing strategies 46. Using ETFs to implement sector investing strategies Chapter 16: Long Term Investing 47. Determining long range goals 48. Equity Bias 49. Diversification 50. Costs Chapter 17: International Investing 51. Common ETFs 52. Legal aspects of trading outside US 53. Foreign exchange risk 54. Tax considerations Chapter 18: Day Trading 55. Psychological profile necessary to day trade 56. Financial net worth 57. Technology and systems needed 58. When to get out Chapter 19: Speculative Trading 59. Types of Speculative Trading 60. Time frames 61. Trading Plans 62. Risk Management Part V: Conclusion Chapter 20: The View Ahead 63. Growth 64. More overseas investment operations 65. Continued need for good advice Appendix Appendix A: ETF publications Appendix B: ETF websites Appendix C: Directory of ETF Providers