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Cocktail Economics: Discovering Investment Truths from Everyday Conversations

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Cocktail Economics: Discovering Investment Truths from Everyday Conversations

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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.

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    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

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    Foreword

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    Introduction

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