THE BULL INSIDE THE BEAR: FINDING NEW INVESTMENT OPPORTUNITIES IN TODAY'S FAST-CHANGING FINANCIAL MARKETS
商品資訊
ISBN13:9780470402207
出版社:JOHN WILEY & SONS;LTD
作者:STEIN
出版日:2009/02/06
裝訂/頁數:精裝/203頁
相關商品
商品簡介
作者簡介
目次
商品簡介
The meltdown in the credit markets, the decline in housing prices, and the turmoil in the stock market has rocked the world of the everyday investor. The idea that home ownership and the stock market are the best long-term investments suddenly has been thrown into question. Bearish investment experts are touting historical research that suggests both real estate values and the stock market could stagnate for years to come, thus imperiling the retirement planning of millions of Americans. In The Bull Inside the Bear, investment manager and former Federal Reserve economist Rob Stein argues that the economy is entering uncharted water and investors need to actively manager their portfolios to take advantage of new opportunities and avoid risky sectors. No longer can investors simply rely on a "buy and hold" strategy. The key will be to stay nimble and be ready to increase stock holdings if the economy recovers strongly and be ready to substantially reduce stock holdings if the current problems continue to weigh down economic performance. Moreover, investors must be open to weighting their portfolios in favor of hot sectors depending on economic and financial market performance. Stein argues that it will take several years for the credit markets to stabilize following the crash of the Greenspan-driven credit expansion, which will make investing far more volatile and unpredictable than previously. But by adroitly moving in and out of exchange-traded funds, individual investors will be able to prosper in this new and challenging investment environment.
作者簡介
Robert Stein is an economist, portfolio manager, and Senior Partner of Astor Asset Management, LLC, which uses a macroeconomic model to make investment decisions. Stein is also managing partner of ETFPort.com, the Web's premier location to find and research exchange-traded funds. He writes frequently about the markets, and has been featured in the Wall Street Journal, BusinessWeek, the New York Times, and USA Today, and can be seen on CNN, CNBC, Fox News, Bloomberg Television, and ABC News.
目次
Foreword.
Preface.
Acknowledgments.
Part I: The Credit Market Meltdown.
Chapter 1 How Has the World Changed?
The Next Bull and Bear.
A Valuable History Lesson.
The Four Stages of a Recurring Cycle.
Always a Bull Inside the Bear.
The Role of the Fed.
The World As We Know It.
Today’s World and Money Supply.
Conclusion: A Changing, Consistent World.
Chapter 2 Bubbles, Bursts, and Blips: A View of the Past.
The 1970s: The Gold Bubble Inflates.
The 1980s: Two Dips and a Blip.
The 1980s in Perspective.
The 1990s: An Expansion Here, a Bubble There.
The 2000s and the Liquidity Bubble.
Looking Ahead.
The Bull Inside the Bear: The Next Bubble to Burst—and Bull to Emerge.
Chapter 3 Inflation: The Factor That Is Always with Us.
Inflation to the Rescue.
Causes of Inflation.
The Wage-Inflation Equation.
Wage Pressures and Inflation.
Oil Prices: The Ouch That Stings.
Inflation Is Always an Issue.
The 1970s: Whipping Double-Digit Inflation.
The Greenspan Years.
Bernanke Takes Over.
The Bull Inside the Bear: Your Inflation Opportunities.
Stay Alert and Nimble.
Part II: What Does It All Mean for Me?
Chapter 4 The Credit Cycle.
An Overview of the Housing Cycle.
The Four Phases of the Credit Cycle.
The Pivotal Moment: A Nod to Minsky.
Banking 101.
Now the Deleveraging Begins.
Credit Cycle Impact.
Bull Inside the Bear: It’s Not the End of the World.
Chapter 5 The Housing Bubble: From Watch to Warning.
Nearly 70 Percent Home Ownership in the United States.
Nesting Instinct.
The Weather Watch.
A Loan for Everyone.
From Watch to Warning.
Slice-and-Dice Debt Packages.
One Last Blast to Inflate the Bubble.
A Violent Storm: The Bursting of the Bubble.
The Impact on U.S. Economic Growth.
The Bull Inside the Bear: Lessons from a Housing Bubble.
Chapter 6 The Fed as FEMA.
The Fed to the Rescue.
A Short History of the Fed.
The Fed Steps In.
Greenspan and the Stock Market.
Greenspan and Liquidity.
Liquidity Flows and Flows.
Bailing out Bear Stearns.
The Hidden Cost of Fed as FEMA.
The Bull Inside the Bear: The Fed, Intervention, and You.
Chapter 7 Your Next Opportunity.
Take Heart—Or at Least Take Heed.
Understanding Current Events.
Where’s the Bull?
Beware of Bonds: The Next Bubble to Burst.
The Bull Inside the Bear: Reverting to the Mean.
Let’s Talk Game Plan.
Doubling the Dow.
Part III: Investment Lessons to Live By.
Chapter 8 ETFs: The Perfect Investment.
An Investment for Uncertain Times.
Using ETFs.
ETF Innovation.
Pure Investment, No Ego.
ETFs for Retirement Plans.
Thinking Like an Economist.
Going Short by Going Long.
Choosing Sectors.
On the Radar for 2009.
The Bull Inside the Bear: See the Forest, Focus on the Trees.
Chapter 9 Nimble and Aware: Focusing on the Big Picture.
The Economy is Not the Stock Market.
A Snapshot of the Economy.
GDP: Measuring Economic Health.
Employment.
Investment Money Flows and Stock Price Momentum.
No Need to be a Passive Investor.
Right Sector, Wrong Stock.
Taking Profits.
The Bull Inside the Bear: Diversification Using ETFs.
Chapter 10 Thoughts on Life—and Investing.
Worry About the Right Things.
The Credit-Based Economy.
Don’t Fight the Cycles.
Be Discerning.
The Economy and Politics.
The Blame Game.
The Bull Inside the Bear—Is You.
Notes.
About the Author.
Index.
Preface.
Acknowledgments.
Part I: The Credit Market Meltdown.
Chapter 1 How Has the World Changed?
The Next Bull and Bear.
A Valuable History Lesson.
The Four Stages of a Recurring Cycle.
Always a Bull Inside the Bear.
The Role of the Fed.
The World As We Know It.
Today’s World and Money Supply.
Conclusion: A Changing, Consistent World.
Chapter 2 Bubbles, Bursts, and Blips: A View of the Past.
The 1970s: The Gold Bubble Inflates.
The 1980s: Two Dips and a Blip.
The 1980s in Perspective.
The 1990s: An Expansion Here, a Bubble There.
The 2000s and the Liquidity Bubble.
Looking Ahead.
The Bull Inside the Bear: The Next Bubble to Burst—and Bull to Emerge.
Chapter 3 Inflation: The Factor That Is Always with Us.
Inflation to the Rescue.
Causes of Inflation.
The Wage-Inflation Equation.
Wage Pressures and Inflation.
Oil Prices: The Ouch That Stings.
Inflation Is Always an Issue.
The 1970s: Whipping Double-Digit Inflation.
The Greenspan Years.
Bernanke Takes Over.
The Bull Inside the Bear: Your Inflation Opportunities.
Stay Alert and Nimble.
Part II: What Does It All Mean for Me?
Chapter 4 The Credit Cycle.
An Overview of the Housing Cycle.
The Four Phases of the Credit Cycle.
The Pivotal Moment: A Nod to Minsky.
Banking 101.
Now the Deleveraging Begins.
Credit Cycle Impact.
Bull Inside the Bear: It’s Not the End of the World.
Chapter 5 The Housing Bubble: From Watch to Warning.
Nearly 70 Percent Home Ownership in the United States.
Nesting Instinct.
The Weather Watch.
A Loan for Everyone.
From Watch to Warning.
Slice-and-Dice Debt Packages.
One Last Blast to Inflate the Bubble.
A Violent Storm: The Bursting of the Bubble.
The Impact on U.S. Economic Growth.
The Bull Inside the Bear: Lessons from a Housing Bubble.
Chapter 6 The Fed as FEMA.
The Fed to the Rescue.
A Short History of the Fed.
The Fed Steps In.
Greenspan and the Stock Market.
Greenspan and Liquidity.
Liquidity Flows and Flows.
Bailing out Bear Stearns.
The Hidden Cost of Fed as FEMA.
The Bull Inside the Bear: The Fed, Intervention, and You.
Chapter 7 Your Next Opportunity.
Take Heart—Or at Least Take Heed.
Understanding Current Events.
Where’s the Bull?
Beware of Bonds: The Next Bubble to Burst.
The Bull Inside the Bear: Reverting to the Mean.
Let’s Talk Game Plan.
Doubling the Dow.
Part III: Investment Lessons to Live By.
Chapter 8 ETFs: The Perfect Investment.
An Investment for Uncertain Times.
Using ETFs.
ETF Innovation.
Pure Investment, No Ego.
ETFs for Retirement Plans.
Thinking Like an Economist.
Going Short by Going Long.
Choosing Sectors.
On the Radar for 2009.
The Bull Inside the Bear: See the Forest, Focus on the Trees.
Chapter 9 Nimble and Aware: Focusing on the Big Picture.
The Economy is Not the Stock Market.
A Snapshot of the Economy.
GDP: Measuring Economic Health.
Employment.
Investment Money Flows and Stock Price Momentum.
No Need to be a Passive Investor.
Right Sector, Wrong Stock.
Taking Profits.
The Bull Inside the Bear: Diversification Using ETFs.
Chapter 10 Thoughts on Life—and Investing.
Worry About the Right Things.
The Credit-Based Economy.
Don’t Fight the Cycles.
Be Discerning.
The Economy and Politics.
The Blame Game.
The Bull Inside the Bear—Is You.
Notes.
About the Author.
Index.
主題書展
更多
主題書展
更多書展本週66折
您曾經瀏覽過的商品
購物須知
外文書商品之書封,為出版社提供之樣本。實際出貨商品,以出版社所提供之現有版本為主。部份書籍,因出版社供應狀況特殊,匯率將依實際狀況做調整。
無庫存之商品,在您完成訂單程序之後,將以空運的方式為你下單調貨。為了縮短等待的時間,建議您將外文書與其他商品分開下單,以獲得最快的取貨速度,平均調貨時間為1~2個月。
為了保護您的權益,「三民網路書店」提供會員七日商品鑑賞期(收到商品為起始日)。
若要辦理退貨,請在商品鑑賞期內寄回,且商品必須是全新狀態與完整包裝(商品、附件、發票、隨貨贈品等)否則恕不接受退貨。