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Other titles in the Bloomberg Financial series:

Investing with the Trend: A Rules-Based Approach to Money Management (Bloomberg Financial)

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Investing with the Trend: A Rules-Based Approach to Money Management (Bloomberg Financial) Cover

 

Synopses & Reviews

Publisher Comments:

In this must-have resource, author Gregory Morris—Chairman of the Investment Committee for Stadion Money Management—draws on his years of experience to offer a process for analyzing the present state of the marketplace in order to maximize investment possibilities. Throughout the book, Morris presents compelling evidence that debunks commonly held investing myths that typically hold investors back. Filled with practical examples, and based on solid research and data, Investing with the Trend explains why all too often well-accepted theories on finance, economics, and the market in general can keep investors from reaching their investing goals.

Morris's approach, which he skillfully implemented while Stadion's Chief Technical Analyst, is designed to help investors capture most of the market's good times while avoiding the bad. To get started with the process, Morris outlines four essential indicator types and defines the most common investing terms. In clear language, he describes this rules-based technical approach to investing that consistently outperforms market averages.

Engaging and informative, Investing with the Trend offers an insider's view of how to evaluate the market through a variety of technical indicators. As Morris explains, each indicator is assigned a weight based on its history as a driver of returns. To maximize investment potential, Morris advises that investors adjust their portfolio exposure from cash and fully invest in response to the aggregate value of the indicators. This method has consistently provided better returns than a buy-and-hold approach and without taking on extra risk. In contrast with modern investment theory, which equates risk with volatility, Morris equates risk with portfolio drawdown—a distinction that is the foundation of his entire investing approach.

As the title implies, this important book reveals that markets tend toward trendiness and that technical analysis, when properly used, can measure the trend of the market at any point in time. Sure to be any investor's key to financial success and backed by the author's investment performance, Investing with the Trend provides an innovative way to use technical analysis to minimize risk and outperform market averages.

Synopsis:

Praise for Investing with the Trend

"If you want to take a master class in financial markets, this is the book for you."
—Mebane Faber, CIO, Cambria Funds

"Greg Morris is a learned scholar, sharp observer, rational thinker, and successful stock market analyst and investor. All these characteristics are displayed in his new book Investing with the Trend. It is a gem. His understanding and refutation of many Wall Street myths are brilliant; his evaluation of stock market indicators is well-reasoned; and his investment style and risk avoidance methods superb. Anyone, professional or otherwise, interested in a reasoned, fact-supported, comprehensive book on the stock market should own it."
—Charles D. Kirkpatrick, CMT, Kirkpatrick & Company, Inc.

"Anyone wanting to read about technical analysis should read this book first. It is the benchmark book that all other books on the topic should be compared to."
—Peter Mauthe, Investment Banking

"If you invest in stocks without first investing in this book, you are a fool. Well written, documented, and practical, Greg's work is an amazing accomplishment, combining knowledge with wisdom. In my library of thousands of market books, there are only a few 'must reads'. This one has earned that honor."
—Larry Williams, Trader

"The trend is your friend, so make friends with Investing with the Trend. Whether you are emotional or disciplined, a numbers nerd or not, Greg will show you how successful investors let the rules rule."
—Sam Stovall, Chief Equity Strategist, S&P Capital IQ

Synopsis:

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

About the Author

Gregory L. Morris is Chairman of the Investment Committee for Stadion Money Management, LLC, which manages approximately $5.4 billion, and their Chief Technical Analyst. Prior to this role, Morris served as a trustee and advisor to the MurphyMorris ETF Fund and as treasurer and chief executive officer of MurphyMorris Money Management Co. and MurphyMorris.com. He has been a technical market analyst for over forty years, ranging from analysis software development and website analysis and education to money management. Morris is the author of two books, Candlestick Charting Explained and The Complete Guide to Market Breadth Indicators. He has appeared frequently on financial news shows, has lectured on technical analysis worldwide, and has been featured in major magazines. Morris was a U.S. Navy fighter pilot, is a graduate of the Navy Fighter Weapons "Top Gun" School, and holds a degree in aerospace engineering from the University of Texas.

Table of Contents

Foreword ix

Preface xi

Acknowledgments xv

Chapter 1
Introduction 1

Part I: Market Fiction, Flaws, and Facts 13

Chapter 2
Fictions Told to Investors 15

Chapter 3
Flaws in Modern Financial Theory 27

Chapter 4
Misuse of Statistics and Other Controversial Practices 51

Chapter 5
The Illusion of Forecasting 57

Chapter 6
The Enemy in the Mirror 71

Chapter 7
Market Facts: Bull and Bear Markets 83

Chapter 8
Market Facts: Valuations, Returns, and Distributions 113

Part II: Market Research 139

Chapter 9
Why Technical Analysis? 141

Chapter 10
Market Trend Analysis 159

Chapter 11
Drawdown Analysis 231

Part III: Rules-Based Money Management 267

Chapter 12
Popular Indicators and Their Uses 269

Chapter 13
Measuring the Market 281

Chapter 14
Security Ranking, Selection, Rules, and Guidelines 319

Chapter 15
Putting It All Together: The “Dancing with the Trend” Model 355

Chapter 16
Putting Trend-Following to Work 391

Chapter 17

Conclusions 399

Appendix A: Passive versus Active Management 409

Appendix B: Trend Analysis Tables 413

Appendix C: Market Breadth 445

Appendix D: Recommended Reading 457

Bibliography 459

About the Author 467

About the Online Resources 469

Index 471

Product Details

ISBN:
9781118508374
Author:
Morris, Gregory L.
Publisher:
John Wiley & Sons
Author:
Morris, G. L.
Author:
Morris, Greg L.
Subject:
Finance
Subject:
Trading
Subject:
Greg Morris; dancing with the trend; technical analysis; technical analysis book; technical analysis investing; technical analysis trading; rules-based technical approach; technical indicators
Subject:
Business-Accounting and Finance
Copyright:
Edition Description:
WOL online Book (not BRO)
Series:
Bloomberg Financial
Publication Date:
20131204
Binding:
HARDCOVER
Language:
English
Pages:
496
Dimensions:
261.6 x 191.8 x 41.9 mm 35.68 oz

Related Subjects

Business » Accounting and Finance
Business » Investing
Business » Investing » Stocks
Engineering » Mechanical Engineering » General
Science and Mathematics » Chemistry » Chemical Engineering
Science and Mathematics » Chemistry » General
Science and Mathematics » Materials Science » General

Investing with the Trend: A Rules-Based Approach to Money Management (Bloomberg Financial) New Hardcover
0 stars - 0 reviews
$74.25 In Stock
Product details 496 pages John Wiley & Sons - English 9781118508374 Reviews:
"Synopsis" by , Praise for Investing with the Trend

"If you want to take a master class in financial markets, this is the book for you."
—Mebane Faber, CIO, Cambria Funds

"Greg Morris is a learned scholar, sharp observer, rational thinker, and successful stock market analyst and investor. All these characteristics are displayed in his new book Investing with the Trend. It is a gem. His understanding and refutation of many Wall Street myths are brilliant; his evaluation of stock market indicators is well-reasoned; and his investment style and risk avoidance methods superb. Anyone, professional or otherwise, interested in a reasoned, fact-supported, comprehensive book on the stock market should own it."
—Charles D. Kirkpatrick, CMT, Kirkpatrick & Company, Inc.

"Anyone wanting to read about technical analysis should read this book first. It is the benchmark book that all other books on the topic should be compared to."
—Peter Mauthe, Investment Banking

"If you invest in stocks without first investing in this book, you are a fool. Well written, documented, and practical, Greg's work is an amazing accomplishment, combining knowledge with wisdom. In my library of thousands of market books, there are only a few 'must reads'. This one has earned that honor."
—Larry Williams, Trader

"The trend is your friend, so make friends with Investing with the Trend. Whether you are emotional or disciplined, a numbers nerd or not, Greg will show you how successful investors let the rules rule."
—Sam Stovall, Chief Equity Strategist, S&P Capital IQ

"Synopsis" by , 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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