by VictorA.Canto (Author)
What can moonshine, mountain climbers, power plants, salmon, football players, and well-known celebrities teach you about investing? More than you ever imagined!
Through entertaining, easy-to-understand anecdotes, analogies, and examples, Canto reveals why the most successful investment strategies reflect a balance of active and passive approaches. You'll learn how to read economic cycles, identifying the specific asset classes most likely to outperform in tomorrow's business environment.
Construct and optimize your winning investment plan, step-by-step, from start to finish!
MAKE HAY WHILE THE SUN SHINES
The case for predicting, forecasting, and timing
PASSIVE INVESTING? ACTIVE INVESTING? NO. BOTH.
Why you need to take both sides in the never-ending debate
ELASTICITY: CATCH IT IF YOU CAN
Putting industry behavior to work for you
CALIFORNIA, FRANCE, AND THE LOCATION EFFECT
Investing internationally in the age of globalization
TURN SMOKE INTO SIGNALS
Making the most of publicly available price data
YOUR PORTFOLIO VS. THE GOVERNMENT
Anticipating and responding to regulations and taxation
TILT TOWARD SUCCESS, ONE STEP AT A TIME
Build your benchmark portfolio, then optimize it for changing environments
Victor Canto reveals exactly how the economy affects markets and how to read business cycles so you can profit from every shift in the business cycle. Among the topics covered: investing internationally in the age of globalization; transforming price data into usable market signals ; anticipating the impact of regulations and taxation; and more. From start to finish, Canto's focus is practical, and his focus is simple: outstanding investment results.
Format: Hardcover
Pages: 336
Edition: 1
Publisher: Financial Times/ Prentice Hall
Published: 07 May 2007
ISBN 10: 0132432730
ISBN 13: 9780132432733
Book Overview: Victor A. Canto's Cocktail Economics uses simple, plain-English explanations and real-world analogies to teach today's most proven, profitable investment strategies. Canto reveals exactly how the economy affects markets-and how to read business cycles so you can profit from every shift in the business cycle. Among the topics covered: using elasticity to invest in the right industries and companies; investing internationally in the age of globalization; transforming price data into usable market signals ; anticipating the impact of regulations and taxation; and more. One step at a time, Canto shows you how to define your benchmark portfolio, then use above-average asset allocation to tilt towards success. From start to finish, Canto's focus is practical, and his goal is simple: outstanding investment results.
A straightforward plan for managing your investment portfolio.
Canto calls his brand of investment theory cocktail economics because it is conversational and filled with entertaining anecdotes. But there is no mistaking the seriousness of his intent-to generate above-average returns on your investments. His plan specifically is concerned with the big picture, with the broad macro worldwide forces that act on all investments -based on the principle that for every economic action there is a predictable market reaction, and that investments can be timed to the swings in asset classes. It is no mystery that assets-be they small caps, large caps, value or growth stocks, international or domestic shares, bonds or T-bills-react to economic shocks and trends (for example, monetary-policy changes, shifts in inflation and GDP growth) in ways that can be inferred. Using a combination of class benchmarks, macroeconomic forecasting and passive/aggressive strategies, Canto generates specific, reliable investment suggestions-for instance, that inelastic industries respond to positive economic shocks with below-average employment increases and above-average profit gains.
A sound and intelligible blueprint for investment. --Kirkus Business & Personal Finance Newsletter (May 2007)
Read Cocktail Economics. It educates and entertains (there is no shortage of anecdotes and real-world examples) while offering simple-to-follow instructions on how to do better than the average investor. It's also an excellent primer on how to argue like a supply-sider - which is not a bad thing if you like winning arguments.
--Larry Kudlow, NRO's Economics Editor, is host of CNBC's Kudlow & Company and author of the daily web blog, Kudlow's Money Politic$ (7/2007)
VICTOR A. CANTO is Chairman and Founder of La Jolla Economics, an economic consulting firm located in La Jolla, California. He served as tenured Associate Professor of Finance and Business Economics at the University of Southern California (USC), and as Visiting Professor at both the Universidad Central del Este (Dominican Republic) and UCLA.
Dr. Canto has been published in The Wall Street Journal and Investor's Business Daily, and in many leading economic journals, including Economic Inquiry, Journal of Macroeconomics, The International Journal, Journal of Business and Economic Statistics, The Southern Economic Journal, Applied Economics, Weltwirstchaftliches Archiv, The CATO Journal, Public Finance, and The Journal of International Money and Finance. His series on portfolio strategy appeared in the Financial Analysts Journal.
He holds a M.A. and Ph.D. in Economics from the University of Chicago (1974, 1977).
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