By David Wiedemer, Robert A. Wiedemer, Cindy S. Spitzer
From the authors who properly expected the domino fall of the conjoined genuine property, inventory, and personal debt bubbles that ended in the monetary quandary of 2008 and 2009, now comes the definitive examine what's nonetheless forward in 2012 and beyond—and what traders can do instantly to guard themselves.
Based at the authors' unrivaled tune list of unique predictions within the landmark books America's Bubble financial system and Aftershock, this moment version of Aftershock updates the unique publication through greater than 35 percentage with clean research of the newest monetary advancements, plus bargains new in-depth suggestion for a way readers can organize now for defense and earnings within the subsequent worldwide funds meltdown.
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Extra info for Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown
I personally started my career as an analyst for an investment bank, which provided me with the necessary valuation tools and understanding to analyze companies on a daily basis. Risk management comes with time and experience rather than a specific training. ” Risks Despite being categorized as a market-neutral strategy, equity long/short strategies are not without risks. These strategies have market-spread risks, as opposed to outright directional risks. Long/short strategies also come with the liquidity risks of trading two or more stocks as opposed to one stock.
These strategies have market-spread risks, as opposed to outright directional risks. Long/short strategies also come with the liquidity risks of trading two or more stocks as opposed to one stock. Additionally, equity long/short strategies have some unique inherent risks. The main one is that the portfolio manager must correctly predict the relative performance of two stocks, which can be difficult. Pair risks that are based on long-term correlation can break down permanently. Given that a ratio of one stock price to another is normally distributed— meaning that the spread of the two stocks are not bounded by zero—the ratio of one stock to another can continue to move with or against a portfolio manager’s position to an infinite extent.
All rights reserved. 1 (Continued) ■ 47 48 ■ CHAPTER 5 Long/Short Equity Strategy Short selling involves a high degree of risk. An investor who buys a stock long has limited risk because the potential loss is known; a stock can only fall to zero so the loss is limited to money initially invested to buy the stock. In a short sale, the investor’s risk is said to be unlimited because the potential loss is theoretically unlimited as the stock could rise infinitely past the market price at which the investor borrowed the stock.