Invest Like a Pro: Using Derivatives to Support Investment Strategies - without the Rocket Science
By: John Stephens (author)Paperback
More than 4 weeks availability
In order to be a successful investor, it is not enough to be able to pick winners. You must be able to protect and enhance your investments and their performance over the long haul. This book will show the investor how to derive vastly improved results and benefits from whatever investment strategy they are following. This is possible by combining such investment strategies with the same equity derivative strategies that professional fund managers use. Armed with this book, a private investor will be able to invest like a professional. The knowledge of equity derivatives and the techniques explained allows any investor the full advantage of knowing how best to protect the value of an existing investment portfolio. The reader will also learn how to let an investment portfolio track an equity index, how to diversify stock and bond holdings, and how to "lock in" buying or selling prices as well as unrealised profits. Invest Like a Pro will be a valuable addition to an investor's arsenal of knowledge on investment. It won't just present a substitute or alternative avenue for investment. If you're investing in stocks and bonds, do it like a pro.
John J. Stephens After reading Political Science and Law at the University of Witwatersrand in Johannesburg, South Africa, John Stephens was called to the bar. His time at the Bar included a term as Senior State Advocate in the Central Branch of the Attorney General's office, when he laft legal practice to act as business consultant and financial advisor for a portfolio of companies. This eventually included some of the largest financial institutions in South Africa. John shares his knowledge and experience of successful investing with private investors across the globe. his popular The Business of Hedging is also published by Pearson Education under the Financial Times Prentice Hall imprint.
Chapter 1 - How Professionals Invest With Derivatives Background to modern investment practice Portfolio risk management How derivatives support investments Financial derivatives Chapter 2 - The Fear of Derivatives and other Disasters Some popular derivatives scandals The background to Metallgesellschaft The Procter & Gamble debacle Chapter 3 - The Essence of Equity Derivatives Equity market derivatives Futures exchanges Equity derivatives Chapter 4 - Understanding Financial Options The fundamental principles of options Option pricing The intrinsic value of an option The time value of an option The Greeks Exercising options The risk of the parties to an option Equity option structures Chapter 5 - Understanding Equity Futures, Treasury Futures and CFDs Some basic features of futures contracts The three innovations of the futures contract A standardized contract Contract negotiability or on-saleability The virtual elimination of credit risk Pricing the futures The basis Treasury futures Certificates for Difference Chapter 6 - The Simple Measure of Investment Basic risk management theory Single-factor risk models Correlation Determining the hedge ratio Calculating the risk Chapter 7 - Strategies for Building Investment Portfolios with Derivatives The benchmark Benchmarking a portfolio Benchmarking with derivatives Proxy trading or 'placeholders' Restructuring a portfolio Chapter 8 - Strategies to Protect Investment Value Hedging in principle When hedging is appropriate and when not Hedging the value of a portfolio Hedging the value of a single stock Cost-reduction strategies with options Conclusions on hedging.
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- ID: 9780273656791
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