Getting Investment Leverage in the Markets

Getting Investment Leverage in the Markets
Author: Tom Lydon
Publisher:
Total Pages: 10
Release: 2010
Genre: Exchange traded funds
ISBN:
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This Element is an excerpt from The ETF Trend Following Playbook: Profiting from Trends in Bull or Bear Markets with Exchange Traded Funds (ISBN: 9780137029013) by Tom Lydon. Available in print and digital formats. Why go "short"--And how to use leveraged ETFs to do it more effectively. During the last several bear markets, you might have been well served by reducing your exposure to equities. A number of investors-perhaps even you-decided to "short" the market instead of exiting entirely. By shorting stocks, investors can potentially make money when the stock loses value. Short selling can help you accomplish several goals.

Lifecycle Investing

Lifecycle Investing
Author: Ian Ayres
Publisher: ReadHowYouWant.com
Total Pages: 358
Release: 2010-05
Genre: Business & Economics
ISBN: 1458758427
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Diversification provides a well-known way of getting something close to a free lunch: by spreading money across different kinds of investments, investors can earn the same return with lower risk (or a much higher return for the same amount of risk). This strategy, introduced nearly fifty years ago, led to such strategies as index funds. What if we were all missing out on another free lunch that’s right under our noses? InLifecycle Investing, Barry Nalebuff and Ian Ayres-two of the most innovative thinkers in business, law, and economics-have developed tools that will allow nearly any investor to diversify their portfolios over time. By using leveraging when young-a controversial idea that sparked hate mail when the authors first floated it in the pages ofForbes-investors of all stripes, from those just starting to plan to those getting ready to retire, can substantially reduce overall risk while improving their returns. InLifecycle Investing, readers will learn How to figure out the level of exposure and leverage that’s right foryou How the Lifecycle Investing strategy would have performed in the historical market Why it will work even if everyone does it Whennotto adopt the Lifecycle Investing strategy Clearly written and backed by rigorous research,Lifecycle Investingpresents a simple but radical idea that will shake up how we think about retirement investing even as it provides a healthier nest egg in a nicely feathered nest.

Getting Investment Leverage in the Markets

Getting Investment Leverage in the Markets
Author: Tom Lydon
Publisher: Pearson Education
Total Pages: 20
Release: 2010-03-15
Genre: Business & Economics
ISBN: 0132466465
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This is the eBook version of the printed book. This Element is an excerpt from The ETF Trend Following Playbook: Profiting from Trends in Bull or Bear Markets with Exchange Traded Funds (ISBN: 9780137029013) by Tom Lydon. Available in print and digital formats. Why go “short”–and how to use leveraged ETFs to do it more effectively. During the last several bear markets, you might have been well served by reducing your exposure to equities. A number of investors–perhaps even you–decided to “short” the market instead of exiting entirely. By shorting stocks, investors can potentially make money when the stock loses value. Short selling can help you accomplish several goals.

The New Laws of the Stock Market Jungle

The New Laws of the Stock Market Jungle
Author: Michael J. Panzner
Publisher: Pearson Education
Total Pages: 448
Release: 2004-06-29
Genre: Business & Economics
ISBN: 0132703556
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To survive in the jungle, you must recognize thesubtle nuances that signal danger and opportunity. That's how it is inthe stock market, too. But the market's radically changed: followyesterday's signals and you'll get eaten alive. The New Laws of theStock Market Jungle systematically explains what's new -- and what itmeans to investors. Michael J. Panzner illuminates the impact ofchanging technologies, market participants, investment time horizons,speculative behavior, investor psychology, risk preferences, pricepatterns, performance metrics, and more. For the unaware, these changesmake the market far more treacherous. For those who know, they offerimmense opportunities. Join those who know: read this book.

Passive Investing on Steroids

Passive Investing on Steroids
Author: Daniel Fernandez
Publisher:
Total Pages: 52
Release: 2018-08-20
Genre: Business & Economics
ISBN: 9781719823593
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Do you want to significantly increase your passive investment returns without having to spend a lot of time? Do you want to get the most out of the stock market without having to become the next Warren Buffet? Is there anything better diversified and more productive than a simple index-based investment? In my book - Passive investing on steroids - I talk about the construction of passive investment portfolios using leveraged ETFs (exchange traded funds) that can surpass the risk adjusted returns of normal stock investments. Although the concept of leverage is usually associated with great increases in risk - and therefore never recommended for a passive investing approach - my book goes into detail about the different kinds of leverage and how leverage can be used in a smart and yet simple manner to increase potential returns significantly without also shooting up your risk. I propose several different portfolio choices using leveraged ETF instruments and show through historical simulations how these approaches would have performed since the early 1980's. The book in fact contains R code that the reader can use to reproduce all the historical simulations and figures within it. I also talk about how this code can be used to actively monitor the portfolios and better time opportunities to get into the market.

Leveraged Finance

Leveraged Finance
Author: Stephen J. Antczak
Publisher: John Wiley & Sons
Total Pages: 371
Release: 2009-06-10
Genre: Business & Economics
ISBN: 0470528826
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A timely guide to today’s high-yield corporate debt markets Leveraged Finance is a comprehensive guide to the instruments and markets that finance much of corporate America. Presented in five sections, this experienced author team covers topics ranging from the basics of bonds and loans to more advanced topics such as valuing CDs, default correlations among CLOs, and hedging strategies across corporate capital structures. Additional topics covered include basic corporate credit, relative value analysis, and various trading strategies used by investors, such as hedging credit risk with the equity derivatives of a different company. Stephen Antczak, Douglas Lucas, and Frank Fabozzi present readers with real-market examples of how investors can identify investment opportunities and how to express their views on the market or specific companies through trading strategies, and examine various underlying assets including loans, corporate bonds, and much more. They also offer readers an overview of synthetic and structured products such as CDS, LCDS, CDX, LCDX, and CLOs. Leveraged Finance has the information you need to succeed in this evolving financial arena.

A Pragmatist’s Guide to Leveraged Finance

A Pragmatist’s Guide to Leveraged Finance
Author: Robert S. Kricheff
Publisher: Harriman House Limited
Total Pages: 238
Release: 2021-05-25
Genre: Business & Economics
ISBN: 0857198505
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The high-yield leveraged bond and loan market is now valued at $4+ trillion in North America, Europe, and emerging markets. What’s more the market is in a period of significant growth. To successfully issue, evaluate, and invest in high-yield debt, financial professionals need credit and bond analysis skills specific to these instruments. This fully revised and updated edition of A Pragmatist’s Guide to Leveraged Finance is a complete, practical, and expert tutorial and reference book covering all facets of modern leveraged finance analysis. Long-time professional in the field, Bob Kricheff, explains why conventional analysis techniques are inadequate for leveraged instruments, clearly defines the unique challenges sellers and buyers face, walks step-by-step through deriving essential data for pricing and decision-making, and demonstrates how to apply it. Using practical examples, sample documents, Excel worksheets, and graphs, Kricheff covers all this, and much more: yields, spreads, and total return; ratio analysis of liquidity and asset value; business trend analysis; modeling and scenarios; potential interest rate impacts; evaluating leveraged finance covenants; how to assess equity (and why it matters); investing on news and events; early-stage credit; bankruptcy analysis and creating accurate credit snapshots. This second edition includes new sections on fallen angels, environmental, social and governance (ESG) investment considerations, interaction with portfolio managers, CLOs, new issues, and data science. A Pragmatist’s Guide to Leveraged Finance is an indispensable resource for all investment and underwriting professionals, money managers, consultants, accountants, advisors, and lawyers working in leveraged finance. It also teaches credit analysis skills that will be valuable in analyzing a wide variety of higher-risk investments, including growth stocks.

Derivatives and Hedge Funds

Derivatives and Hedge Funds
Author: Stephen Satchell
Publisher: Springer
Total Pages: 416
Release: 2016-05-18
Genre: Science
ISBN: 1137554177
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Over the last 20 years hedge funds and derivatives have fluctuated in reputational terms; they have been blamed for the global financial crisis and been praised for the provision of liquidity in troubled times. Both topics are rather under-researched due to a combination of data and secrecy issues. This book is a collection of papers celebrating 20 years of the Journal of Derivatives and Hedge Funds (JDHF). The 18 papers included in this volume represent a small sample of influential papers included during the life of the Journal, representing industry-orientated research in these areas. With a Preface from co-editor of the journal Stephen Satchell, the first part of the collection focuses on hedge funds and the second on markets, prices and products.

Corporate Capital Structures in the United States

Corporate Capital Structures in the United States
Author: Benjamin M. Friedman
Publisher: University of Chicago Press
Total Pages: 404
Release: 2009-05-15
Genre: Business & Economics
ISBN: 0226264238
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The research reported in this volume represents the second stage of a wide-ranging National Bureau of Economic Research effort to investigate "The Changing Role of Debt and Equity in Financing U.S. Capital Formation." The first group of studies sponsored under this project, which have been published individually and summarized in a 1982 volume bearing the same title (Friedman 1982), addressed several key issues relevant to corporate sector behavior along with such other aspects of the evolving financial underpinnings of U.S. capital formation as household saving incentives, international capital flows, and government debt management. In the project's second series of studies, presented at the National Bureau of Economic Research conference in January 1983 and published here for the first time along with commentaries from that conference, the central focus is the financial side of capital formation undertaken by the U.S. corporate business sector. At the same time, because corporations' securities must be held, a parallel focus is on the behavior of the markets that price these claims.

Leveraged Exchange-Traded Funds

Leveraged Exchange-Traded Funds
Author: Peter Miu
Publisher: Springer
Total Pages: 174
Release: 2016-04-29
Genre: Business & Economics
ISBN: 1137478217
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Leveraged Exchange-Traded Funds (LETFs) are publicly-traded funds that promise to provide daily returns that are in a multiple (positive or negative) of the returns on an index. To meet that promise, the funds use leverage, which is typically obtained through derivatives such as futures contracts, forward contracts, and total-return swaps. As of the end of 2012, there were over 250 LETFs in North America with total assets of approximately $32.24 billion. While the amount of assets held by these funds is still small, their popularity continues to grow as their trading volume is significantly larger and much more dynamic than traditional, non-leveraged ETFs. This comprehensive guide to LETFs provides high-level practitioners and researchers with a detailed reference tool for navigating the market and making informed investment decisions. Written from a measured analytical perspective, Miu and Charupat use clear and concise explanations of all important aspects of LETFs, focusing on such key elements as structure, pricing, performance, regulations, taxation, and trading strategies. The first two chapters set the stage for the book by identifying exactly what LETFs are and how they are regulated. The following chapters then look to bridge theory with practice to dive deep into the mechanics, portfolio rebalancing techniques, and daily compounding effects that make investing in these funds so lucrative.