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Investing with the Trend
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Description
Description| Publisher | John Wiley & Sons Inc (US) |
| Author(s) | Gregory L. Morris |
| Subtitle | A Rules-based Approach to Money Management |
| Edition | 1 |
| Published | 20th December 2013 |
| Related course codes |
A Rules-based Approach to Money Management
Investing with the Trend provides an abundance of
evidence for adapting a rules-based approach to investing by
offering something most avoid, and that is to answer the
?why? one would do it this way. It explains the
need to try to participate in the good markets and avoid the bad
markets, with cash being considered an asset class. The book
is in three primary sections and tries to leave no stone unturned
in offering almost 40 years of experience in the markets.
Part I ? The focus is on much of the misinformation in
modern finance, the inappropriate use of Gaussian statistics, the
faulty assumptions with Modern Portfolio Theory, and a host of
other examples. The author attempts to explain each and offer
justification for his often strong opinions.
Part II ? After a lead chapter on the merits of technical
analysis, the author offers detailed research into trend analysis,
showing how to identify if a market is trending or not and how to
measure it. Further research involves the concept of
Drawdown, which the author adamantly states is a better measure of
investor risk than the oft used and terribly wrong use of
volatility as determined by standard deviation.
Part III ? This is where he puts it all together and shows
the reader all of the steps and details on how to create a
rules-based trend following investment strategy. A solid
disciplined strategy consists of three parts, a measure of what the
market is actually doing, a set of rules and guidelines to tell you
how to invest based upon that measurement, and the discipline to
follow the strategy
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