Home > Store

Cocktail Economics: Discovering Investment Truths from Everyday Conversations

Register your product to gain access to bonus material or receive a coupon.

Cocktail Economics: Discovering Investment Truths from Everyday Conversations

Book

  • Sorry, this book is no longer in print.
Not for Sale

About

Features

What can moonshine, mountain climbers, power plants, salmon, football players, Britney Spears, and Brad Pitt teach us about investing?

  • The author presents entertaining and intuitive insights into superior investment strategies readers can apply today.
  • Uses everyday examples, anecdotes, and metaphors to explain basic truths of "passive" and "active" investing and how to use both to best advantage.
  • Helps readers construct their own winning investment plans, step-by-step, from start to finish.
  • Description

    • Copyright 2007
    • Edition: 1st
    • Book
    • ISBN-10: 0-13-243273-0
    • ISBN-13: 978-0-13-243273-3

    What can moonshine, mountain climbers, power plants, salmon, football players, and well-known celebrities teach you about investing? More than you ever imagined!

        Through entertaining, easy-to-understand anecdotes, analogies, and examples, Canto reveals why the most successful investment strategies reflect a balance of active and passive approaches. You’ll learn how to “read” economic cycles, identifying the specific asset classes most likely to outperform in tomorrow’s business environment.

        Construct and optimize your winning investment plan, step-by-step, from start to finish!

    MAKE HAY WHILE THE SUN SHINES

    The case for predicting, forecasting, and timing

    PASSIVE INVESTING? ACTIVE INVESTING? NO. BOTH.

    Why you need to take both sides in the never-ending debate

    ELASTICITY: CATCH IT IF YOU CAN

    Putting industry behavior to work for you

    CALIFORNIA, FRANCE, AND THE “LOCATION EFFECT”

    Investing internationally in the age of globalization

    TURN “SMOKE” INTO “SIGNALS”

    Making the most of publicly available price data

    YOUR PORTFOLIO VS. THE GOVERNMENT

    Anticipating and responding to regulations and taxation

    TILT TOWARD SUCCESS, ONE STEP AT A TIME

    Build your benchmark portfolio, then optimize it for changing environments

    Victor Canto reveals exactly how the economy affects markets and how to “read” business cycles so you can profit from every shift in the business cycle. Among the topics covered: investing internationally in the age of globalization; transforming price data into usable market “signals”; anticipating the impact of regulations and taxation; and more. From start to finish, Canto’s focus is practical, and his focus is simple: outstanding investment results.

    Sample Content

    Online Sample Chapter

    The Buy-and-Hold Connection: Investing Fundamentals Courtesy of the American Homeowner

    Downloadable Sample Chapter

    Download Chapter 1

    Table of Contents

    Foreword xii

    Preface xvii

    Introduction: The Above-Average Opportunity xxi

    Chapter 1: The Buy-and-Hold Connection: Investing Fundamentals, Courtesy of the American Homeowner, the American Dream–or Reality? 1

    Chapter 2: Leaping the Transaction-Cost Hurdle: Sometimes It’s Easy, Other Times It’s Not 19

    Chapter 3: Dressing Appropriately for the Stock Market: The Potential Payoffs of a Switching Strategy 31

    Chapter 4: Catch Elasticity If You Can: An Introduction to Industry Behavior 47

    Chapter 5: Putting High-Beta to Work: Industry-Based Portfolio Strategies 67

    Chapter 6: California Is a Country: An Introduction to the Location Effect 83

    Chapter 7: …And France Is a State: How to Invest Internationally in the Age of Globalization 99

    Chapter 8: Pipelines to Our Investment Returns: How We Get What We Want, in the Amount We Want, and When We Want It 113

    Chapter 9: Who Are You? Investor Profiles and the Case for Asset Allocation 131

    Chapter 10: Your Benchmark Portfolio. . .and Beyond 145

    Chapter 11: Turning Smoke into Signals: How to Make the Most Out of Price Data 157

    Chapter 12: Making Hay While the Sun Shines: The Case for Predicting, Forecasting, and Timing 173

    Chapter 13: The Fight Is On: How to Invest Properly Relative to Regulations, Inflation, and Taxation 195

    Chapter 14: Ending the Never-Ending Debate: Active vs. Passive Investing and Why You Can Take Both Sides 217

    Chapter 15: A Rational Walk Down Wall Street: Darting Between Passive and Active When the Odds Are in Your Favor 233

    Chapter 16: Alpha Bets: The Case for Hedge Funds and a Greek Letter You’ll Want in Your Portfolio 247

    Chapter 17: Tilting Toward Success: A Step-by-Step Guide to Above-Average Asset Allocation 265

    Index 291

    Preface

    Download the Preface

    Foreword

    Download the Forward

    Introduction

    Download the Introduction

    Updates

    Submit Errata

    More Information

    InformIT Promotional Mailings & Special Offers

    I would like to receive exclusive offers and hear about products from InformIT and its family of brands. I can unsubscribe at any time.

    Overview


    Pearson Education, Inc., 221 River Street, Hoboken, New Jersey 07030, (Pearson) presents this site to provide information about products and services that can be purchased through this site.

    This privacy notice provides an overview of our commitment to privacy and describes how we collect, protect, use and share personal information collected through this site. Please note that other Pearson websites and online products and services have their own separate privacy policies.

    Collection and Use of Information


    To conduct business and deliver products and services, Pearson collects and uses personal information in several ways in connection with this site, including:

    Questions and Inquiries

    For inquiries and questions, we collect the inquiry or question, together with name, contact details (email address, phone number and mailing address) and any other additional information voluntarily submitted to us through a Contact Us form or an email. We use this information to address the inquiry and respond to the question.

    Online Store

    For orders and purchases placed through our online store on this site, we collect order details, name, institution name and address (if applicable), email address, phone number, shipping and billing addresses, credit/debit card information, shipping options and any instructions. We use this information to complete transactions, fulfill orders, communicate with individuals placing orders or visiting the online store, and for related purposes.

    Surveys

    Pearson may offer opportunities to provide feedback or participate in surveys, including surveys evaluating Pearson products, services or sites. Participation is voluntary. Pearson collects information requested in the survey questions and uses the information to evaluate, support, maintain and improve products, services or sites, develop new products and services, conduct educational research and for other purposes specified in the survey.

    Contests and Drawings

    Occasionally, we may sponsor a contest or drawing. Participation is optional. Pearson collects name, contact information and other information specified on the entry form for the contest or drawing to conduct the contest or drawing. Pearson may collect additional personal information from the winners of a contest or drawing in order to award the prize and for tax reporting purposes, as required by law.

    Newsletters

    If you have elected to receive email newsletters or promotional mailings and special offers but want to unsubscribe, simply email information@informit.com.

    Service Announcements

    On rare occasions it is necessary to send out a strictly service related announcement. For instance, if our service is temporarily suspended for maintenance we might send users an email. Generally, users may not opt-out of these communications, though they can deactivate their account information. However, these communications are not promotional in nature.

    Customer Service

    We communicate with users on a regular basis to provide requested services and in regard to issues relating to their account we reply via email or phone in accordance with the users' wishes when a user submits their information through our Contact Us form.

    Other Collection and Use of Information


    Application and System Logs

    Pearson automatically collects log data to help ensure the delivery, availability and security of this site. Log data may include technical information about how a user or visitor connected to this site, such as browser type, type of computer/device, operating system, internet service provider and IP address. We use this information for support purposes and to monitor the health of the site, identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents and appropriately scale computing resources.

    Web Analytics

    Pearson may use third party web trend analytical services, including Google Analytics, to collect visitor information, such as IP addresses, browser types, referring pages, pages visited and time spent on a particular site. While these analytical services collect and report information on an anonymous basis, they may use cookies to gather web trend information. The information gathered may enable Pearson (but not the third party web trend services) to link information with application and system log data. Pearson uses this information for system administration and to identify problems, improve service, detect unauthorized access and fraudulent activity, prevent and respond to security incidents, appropriately scale computing resources and otherwise support and deliver this site and its services.

    Cookies and Related Technologies

    This site uses cookies and similar technologies to personalize content, measure traffic patterns, control security, track use and access of information on this site, and provide interest-based messages and advertising. Users can manage and block the use of cookies through their browser. Disabling or blocking certain cookies may limit the functionality of this site.

    Do Not Track

    This site currently does not respond to Do Not Track signals.

    Security


    Pearson uses appropriate physical, administrative and technical security measures to protect personal information from unauthorized access, use and disclosure.

    Children


    This site is not directed to children under the age of 13.

    Marketing


    Pearson may send or direct marketing communications to users, provided that

    • Pearson will not use personal information collected or processed as a K-12 school service provider for the purpose of directed or targeted advertising.
    • Such marketing is consistent with applicable law and Pearson's legal obligations.
    • Pearson will not knowingly direct or send marketing communications to an individual who has expressed a preference not to receive marketing.
    • Where required by applicable law, express or implied consent to marketing exists and has not been withdrawn.

    Pearson may provide personal information to a third party service provider on a restricted basis to provide marketing solely on behalf of Pearson or an affiliate or customer for whom Pearson is a service provider. Marketing preferences may be changed at any time.

    Correcting/Updating Personal Information


    If a user's personally identifiable information changes (such as your postal address or email address), we provide a way to correct or update that user's personal data provided to us. This can be done on the Account page. If a user no longer desires our service and desires to delete his or her account, please contact us at customer-service@informit.com and we will process the deletion of a user's account.

    Choice/Opt-out


    Users can always make an informed choice as to whether they should proceed with certain services offered by InformIT. If you choose to remove yourself from our mailing list(s) simply visit the following page and uncheck any communication you no longer want to receive: www.informit.com/u.aspx.

    Sale of Personal Information


    Pearson does not rent or sell personal information in exchange for any payment of money.

    While Pearson does not sell personal information, as defined in Nevada law, Nevada residents may email a request for no sale of their personal information to NevadaDesignatedRequest@pearson.com.

    Supplemental Privacy Statement for California Residents


    California residents should read our Supplemental privacy statement for California residents in conjunction with this Privacy Notice. The Supplemental privacy statement for California residents explains Pearson's commitment to comply with California law and applies to personal information of California residents collected in connection with this site and the Services.

    Sharing and Disclosure


    Pearson may disclose personal information, as follows:

    • As required by law.
    • With the consent of the individual (or their parent, if the individual is a minor)
    • In response to a subpoena, court order or legal process, to the extent permitted or required by law
    • To protect the security and safety of individuals, data, assets and systems, consistent with applicable law
    • In connection the sale, joint venture or other transfer of some or all of its company or assets, subject to the provisions of this Privacy Notice
    • To investigate or address actual or suspected fraud or other illegal activities
    • To exercise its legal rights, including enforcement of the Terms of Use for this site or another contract
    • To affiliated Pearson companies and other companies and organizations who perform work for Pearson and are obligated to protect the privacy of personal information consistent with this Privacy Notice
    • To a school, organization, company or government agency, where Pearson collects or processes the personal information in a school setting or on behalf of such organization, company or government agency.

    Links


    This web site contains links to other sites. Please be aware that we are not responsible for the privacy practices of such other sites. We encourage our users to be aware when they leave our site and to read the privacy statements of each and every web site that collects Personal Information. This privacy statement applies solely to information collected by this web site.

    Requests and Contact


    Please contact us about this Privacy Notice or if you have any requests or questions relating to the privacy of your personal information.

    Changes to this Privacy Notice


    We may revise this Privacy Notice through an updated posting. We will identify the effective date of the revision in the posting. Often, updates are made to provide greater clarity or to comply with changes in regulatory requirements. If the updates involve material changes to the collection, protection, use or disclosure of Personal Information, Pearson will provide notice of the change through a conspicuous notice on this site or other appropriate way. Continued use of the site after the effective date of a posted revision evidences acceptance. Please contact us if you have questions or concerns about the Privacy Notice or any objection to any revisions.

    Last Update: November 17, 2020