Smart investment is more than buying low and selling high.

books:


	• Smarter Investing in Any Economy: The Definitive Guide to Relative Strength Investing Michael J. Carr W&A Publishing, 2008 - 204 pages average customer review:based on 3 reviews view larger image
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Relative strength investing from soup to nuts

Michael Carr provides a blueprint for success using relative strength investing (RS). Investors may be familiar with the academic literature showing that RS investing should work, but most of these studies were performed on paper, not in the real world. Few investors have successfully integrated RS into their investment approach because of challenges including:
1) There are so many ways to measure RS that it is difficult to know which is best.
2) Transaction costs can erode all the excess profits from RS investing.
3) RS investing involves risk. What are the best ways to reduce the risks inherent in this approach?

Carr addresses these issues. Investors experienced in using RS investing might scan the first section, which summarizes various approaches to measuring RS and surveys much of the academic literature on the subject. But even advanced practitioners will benefit from later chapters in which Carr builds a complete trading system, including buying, selling, back-testing and risk management. He illustrates RS investment approaches using both mutual funds and ETFs. This book is far more than an overview of the subject. It teaches readers how to utilize the power of relative strength in their own investing and trading.

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Smart investment is more than buying low and selling high.

Smart investment is more than buying low and selling high. "Smarter Investing in Any Economy: The Definitive Guide to Relative Strength Investing" is a guide for small time investors looking to increase their income and be more like the big time investors. Offering advice with the potential to double readers' income while cutting the risks they take in half, and with the optimistic view that something is always improving and going up even during a recession, "Smart Investing in Any Economy" is an ideal guide for any investor. Highly recommended for community library finance collections.

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Does he deliver? You bet he does!

With a title like that, you have to wonder if it can possibly live up to such a claim. I think so, and here's why:
1. He develops his ideas clearly, starting with the rationale behind RS, and its use in top trading strategies, such as Investors Business Daily and Value Line.
2. He then walks you through a variety of approaches (18!) to calculating RS, one step at a time, showing you how each one is calculated, and illustrating these with graphs.
3. Next, he walks you through his tests on RS, based on a broad range of sectors, with each of the above approaches, to show you how he arrives at his conclusions.
4. Along the way, he carefully addresses important questions that every trader must deal with, such as selection criteria, diversification, risk, stops, etc. He backs every point up with his own research, and with references to the key work of others--the academic research, and that of key authors such as Van Tharp and James O'Shaughnessy.
5. Ultimately, he develops this into a full fledged trading program for every kind of market.

Whether you are a systems trader or not, I strongly believe that if you only incorporate the least of his ideas on Relative Strength, you'll take a quantum leap forward with your trading.

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This book is about letting the little guy do what the big guy has always done. Hedge funds, pension funds, and other institutions have always used relative strength investing to rack up big returns, yet the methodology has never been presented to the individual investor as a viable, easy-to-understand investment strategy, as it is in this book. Michael Carr, a personal investor with a longtime background in system design and analysis, has applied his professional expertise to investing. After running millions of relative strength calculations, Carr proves that relative strength investing works in any market climate. By strictly following his methodologies outlined in this book, you can more than double the returns of the S&P 500, with less risk. Carr shares his results, methodology, and step-by-step instructions here in this book. Smarter Investing in Any Economy: The Definitive Guide to Relative Strength Investing will show you how relative strength strategies allow you to invest successfully in both bull and bear markets. Even in a market downturn, something is always going up. Relative strength will help you pinpoint that stock, currency, or commodity that s on its way up. Recent advances in computing capability and the widespread availability of ETFs have now opened up relative strength strategies to virtually any investor. Relative strength has been widely used for years by financial institutions; however, it was never accessible to individual investors because of complex custom programming requirements. Computing advances, coupled with new ETFs that limit risk have made relative strength a viable strategy for long-term investors and day traders alike. Carr has broken down his technique to the level that any Microsoft user can implement his strategies successfully.

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