Opportunity Investing : How to Profit When Stocks Advance, Stocks Decline, Inflation Runs Rampant, Prices Fall, Oil Prices Hit the Roof, ... and Every Time in Between

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ISBN: 9780131721296 | 0131721291
Cover: Hardcover
Copyright: 9/1/2006

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High return, low risk, investment strategies-without buying individual stocks-using Mutual Funds, ETFs, and Real Estate Investment Trusts. bull; Shows how to build custom diversified portfolios that are tailored to the readers' personal life situations. bull; Unlike competing authors, Appel integrates both powerful technical and fundamental analysis techniques in one book. bull; Appel is world famous for his market timing techniques which he uses in this book to rebalance individual portfolios and take advantage of changing conditions.

Acknowledgments

xvii

Introduction: New Opportunities

xix

The Myth of Buy and Hold

(28)

Variable Rates of Return from Stocks

(2)

Speculative Bubbles Are Often Followed by Years of Below-Average Investment Performance

(1)

The Moral of the Story---Be a Flexible, Opportunistic Investor

(1)

Growth Targets---``The Magic 20''

(1)

Growth Target Zone

(1)

Active as Opposed to Passive Management of Assets

(1)

Diversification---A Major Key to Successful Investing

(6)

Geographic Diversification in the Developing Global Economy

(2)

Diversifying Geographically in Foreign Bond Markets as well as in Domestic Income Investments

(1)

Sector Diversification for Smoother Performance and Risk Reduction

(3)

Income Investing---Time Diversification

(1)

Creating a Bond Time Ladder

(2)

Year-by-Year Management of the Bond Ladder

(1)

Increasing Returns from the Stock Market while Reducing Risk

(1)

Useful Market Mood Indicators That You Can Maintain and Use in Just a Few Minutes Each Week

(3)

Illustrations of Mood Indicators

(3)

Relationships of Price Movements on NASDAQ and the New York Stock Exchange

(2)

How to Identify Periods When NASDAQ Is the Stronger Market Area

(3)

General Suggestions

(1)

Putting Together a Winning Portfolio

(28)

Which Investments Have Paid Off the Best?

(1)

Life May Not Be So Predictable After All

(1)

The Moral of the Story

(1)

And Perhaps Most Important

(1)

The Best Places to Put Your Money in Recent Decades

(1)

Implications for Mutual Fund Selection

(2)

Mutual Funds Provide Excellent Vehicles for Your Diversification Program

(1)

Benefits of Using Mutual Funds for Both Financial- and Nonfinancial-Based Investing

(1)

Mutual Fund Selections for All Seasons

(3)

Periods of Rising Interest Rates

(1)

Periods of Falling Interest Rates

(1)

A Quick and Dirty Way to Determine Trends in Interest Rates

(1)

Summing Up

(1)

Creating and Measuring the Performance of Well-Balanced Diversified Investment Portfolios

(3)

The Basic Portfolio Mix

(2)

Summing Up

(1)

Income Investing

(3)

Diversification Certainly Does Appear to Help the Cause!

(1)

Upping the Ante! Increasing Returns and Reducing Risk through Active Management of Your Diversified Portfolio

(1)

Employing Mutual Funds to Carry Out Sector Diversification

(2)

The Selection of Specific Mutual Funds

(1)

Comparing Performance---The Diversified Portfolio, Buy and Hold, Versus the Vanguard Standard & Poor's 500 Index Fund

(1)

Rebalancing the Portfolio to Improve Returns

(5)

An Object in Motion Tends to Stay in Motion

(1)

The Basic Procedure for Rebalancing Your Sector Portfolio

(2)

Year-by-Year Comparative Results

(2)

A Final Thought

(3)

Selecting Mutual Funds Most Likely to Succeed

(38)

Myths and Merits of Morningstar

(2)

A Quick and Dirty Checklist to Locate the Best Mutual Funds

(6)

Expense Ratios and Portfolio Turnover---the Lower the Better

(1)

No-Load Funds Are Likely to Outperform Load Funds

(1)

Verify That Your Brokerage House Is Giving You the Best Deal, Not Just Upping Its Own Commission

(1)

As a General Rule, the Lower the Fund Volatility, the Better

(1)

With Excellent Market Timing, Some Higher-Velocity Vehicles in Your Portfolio Might Prove Advantageous

(1)

Continuity of Management Is Important

(2)

Putting Together and Maintaining a Mutual Fund Portfolio for Long-Term, Tax-Favored Holding Periods

(7)

The TPS Strategy: Selecting Mutual Funds That Qualify for the ``One-in-a-Thousand Club''

(7)

Managing Your Buy and Hold Portfolio

(1)

Putting Together and Maintaining a Portfolio of Strong Mutual Funds for Intermediate-Term Investment

(3)

Rotating Your Portfolio at Regular Intervals to Maintain a Portfolio of Market Leaders

(3)

Outperforming Typical Mutual Funds

(1)

Past Performance

(2)

Upping the Ante with Double-Period Ranking Model

(2)

Examining the Statistical Comparisons, Decile by Decile

(2)

Diversification Will Almost Certainly Help the Cause

(2)

Conclusion

(1)

Getting the Maximum Bang from the Bucks in Your 401K Plan and Other Tax-Sheltered Investment Portfolios

(9)

Special Advantages of 401K Plans for Active Mutual Fund Management

(4)

One Final Thought

(1)

One Final Test---Confirming with T. Rowe Price

(3)

Income Investing---Safer and Steady . . . But Watch Out for the Pitfalls

(38)

The Four Legs of Your Investment Portfolio

(3)

Dealing with Default Risk

(3)

Bond Duration as a Measure of Risk

100

(1)

Securing Higher Rates of Return from Lower-Quality, Investment-Grade Bonds

101

(4)

Understanding the Total Income Return from Bonds

102

(3)

Investing in Bonds via Mutual Funds vs. Investing on Your Own

105

(4)

Bonds and Bond Funds for All Seasons

109

(21)

Money-Market Funds

109

(1)

U.S. Treasury Bills

110

(1)

Short-Term Bonds and Bond Funds

111

(2)

Intermediate-Term Bond Funds and Individual Bonds

113

(2)

Long-Term Government and Corporate Bonds

115

(3)

Treasury Inflation-Protected Securities (TIPS)

118

(2)

Zero-Coupon Bonds

120

(2)

Municipal Bonds: Winning the Tax Game

122

(3)

High-Yield Bonds and Bond Funds

125

(5)

Summing Up

130

(3)

Securing Junk Bond Yields at Treasury Bond Risk

133

(20)

The 1.25/0.50 Timing Model

135

(6)

Signals

136

(1)

Timing Decisions

137

(1)

Tracking Total Return

138

(3)

Calculating Buy/Sell Levels for Funds with Prices That Are Reduced When Dividends Are Paid

141

(3)

Example A

142

(1)

Reviewing the Procedure One Final Time

143

(1)

Handling High-Yield Funds That Do Not Reflect Interest Income in Their Share Pricing

144

(4)

Example B

145

(1)

Performance of the 1.25/0.50 Timing Model

146

(2)

Comparing Results

148

(2)

Summing Up

150

(3)

The Wonderful World of Exchange-Traded Funds

153

(26)

Enter the Exchange-Traded Funds (ETFs)

155

(1)

Pros and Cons of ETFs

156

(7)

Pros

157

(3)

Cons

160

(3)

A Closer Look at the ETF Universe

163

(2)

Income ETFs

163

(1)

Global Investment

163

(1)

Domestic Market Indices

164

(1)

Specific Overseas Countries

164

(1)

Specific Industry Groups

164

(1)

Miscellanea

165

(1)

Creating Complete, Well-Diversified Portfolios

165

(2)

Creating and Maintaining Your ETF-Based Portfolio

167

(4)

Large Cap vs. Small Cap

168

(3)

Using ETFs as Hedges Against Inflation

171

(2)

Sample Portfolios

173

(3)

The Conservative Investor

173

(2)

The Moderate Investor

175

(1)

The Aggressive Investor

176

(1)

Summing Up

176

(3)

A Three-Pronged Approach to Timing the Markets

179

(26)

Common Measures of Valuation

180

(1)

Company Earnings: The Core Fundamental

181

(3)

The Long-Term Correlation Between Corporate Earnings and Changes in Stock Prices

182

(2)

Opportunity Investing Strategy 1

184

(3)

Price/Earnings Patterns

184

(1)

Riskier Periods

185

(2)

Using Bond Yields to Know When to Buy Stocks

187

(1)

Earnings Yield

188

(1)

Opportunity Investing Strategy 2

188

(7)

Finding the Data You Need

191

(1)

Special Observation

192

(1)

Trailing Earnings vs. Forward Earnings

193

(1)

Indicator Implications

194

(1)

Bond Yield: Earnings Yield Comparisons Using Aaa Bond Yields

195

(2)

Stocks Bullish 1974--1980

196

(1)

A Significant Buying Opportunity?

197

(1)

Ten-Year Treasury Bond Yields vs. Earning Yields

197

(3)

Surprise! Buy Stocks When Earnings News Is Bad, Sell When Earnings News Is Best

200

(5)

Time Cycles, Market Breadth, and Bottom-Finding Strategies

205

(24)

Market Cycles

206

(3)

The Granddaddy of All Key Stock Market Cycles: The Four-Year (Presidential) Stock Market Cycle!

209

(2)

Confirming the Four-Year Cycle with Your Price/Earnings Ratio Indicator

210

(1)

The Link Between the Four-Year Market Cycle and the Presidential Election Cycle

211

(3)

Winning with Investments Based on the Presidential Election Cycle

212

(2)

Market Breadth

214

(14)

Market Breadth and Major Market Indices

214

(1)

Capitalization Weighted

214

(3)

Confirming Price Action of Major and Less-Major Market Indices with ``Breadth'' Indicators

217

(1)

The Advance-Decline Line

218

(2)

The New High--New Low Breadth Indicator---Including the Major Bull Market Confirming 28% Buy Signal!

220

(2)

Bottom-Finding Parameters

222

(1)

Significant Buying Pattern

222

(1)

Cautionary Conditions Indicated by New High-New Low Data

223

(1)

The 28% Major-Term New Highs Buy Signal

224

(4)

Summing Up

228

(1)

Cashing In on the Real Estate Boom---Investing in REITs

229

(22)

REITs Provide Steady and High Rates of Ongoing Income

230

(2)

Types of REITs

232

(3)

Closed-End REIT Mutual Funds

232

(3)

REIT ETFs

235

(2)

Long-Term Performance of REITs

237

(4)

The Price Movement of the REIT Index Alone Does Not Tell the Full Story

237

(4)

Dividend Payout by Type of REITS

241

(1)

Timing Your Entries and Exits

242

(3)

Links Between REITS and Interest Rates

242

(1)

For Long-Term Investment, Track the Major Channel of the REIT Sector

243

(2)

Unfavorable Implications

245

(1)

Selecting the Best Apartments in the REIT Apartment Building

245

(4)

Technical Tactics

245

(1)

Fundamental Strategies

246

(2)

Further Information

248

(1)

Summing Up

249

(2)

Opportunities Abroad---Investing from Brazil to Britain

251

(32)

Emerging Markets

252

(2)

Many Overseas Markets Outperform the U.S. Stock Market

254

(2)

Long-Term Results Reflect the Potential in Foreign Stocks

256

(1)

Participating in the Growth of Overseas Stocks

256

(14)

American Depository Receipts

257

(4)

Overseas-Based ETFs vs. Open-Ended International Mutual Funds

261

(4)

Closed-End Overseas Mutual Funds

265

(5)

When to Invest in Overseas Equity Mutual Funds and ETFs

270

(1)

Which International Funds to Buy

271

(3)

Investing in International Bond Mutual Funds for Income and for Currency Protection/Speculation

274

(2)

Open-End International Mutual Fund Investment

274

(1)

Higher-Quality International Bond Funds

275

(1)

Lower-Quality International Bond Funds

275

(1)

Closed-End Bond Funds

275

(1)

Balancing the Risks and the Potential Reward

276

(7)

Ongoing Currency Diversification Is a Useful Strategy in and of Itself

278

(1)

Your Best Approaches to Overseas Opportunities

279

(4)

How to Get the Most from Closed-End Mutual Funds

283

(18)

Open-End Mutual Funds

284

(1)

Unit Investment Trusts

285

(2)

Closed-End Funds

287

(1)

How to Buy $1 Worth of Stock or Bonds for Only 85 Cents!

288

(11)

Discounts Mean Opportunity

290

(1)

Finding the Special Bargains

290

(3)

Larger-Than-Average Discounts from Net Asset Value Provide Increased Safety as Well as Increased Opportunity for Profit

293

(1)

Taking Advantage of Premium-Discount Relationships

294

(4)

Leverage Means Increased Opportunity but Also Increased Volatility and Risk

298

(1)

Strongly Performing Closed-End Mutual Funds

299

(2)

Inflation---Coexisting and Even Profiting with Inflation

301

(14)

What Is Inflation?

301

(1)

The Benefits of Inflation

302

(1)

Runaway Inflation

303

(1)

Dealing with Inflation

304

(2)

Income Investment---Borrow Long Term, Lend Short Term

304

(2)

Adjustable-Rate Bonds---Pretty Good, but Beware of the Joker in the Deck

306

(1)

Commodity Investment---an Ongoing Hedge Against Inflation

307

(7)

Benefiting from Rising Commodity Prices

309

(4)

Summing Up

313

(1)

Final Thoughts

314

(1)

Reviewing Our Array of Opportunity Strategies

315

(20)

Ideally Achieved Investment Goals

315

(1)

Strategies to Control Risk

316

(3)

Investment Climates and Recommended Investments

319

(3)

Periods of Sharply Rising Prices

319

(1)

Periods of Steady but Moderate Inflation

320

(1)

Periods of Deflation---Prices Decline

321

(1)

Specific Investment Strategies

322

(5)

Timing the Stock Market

322

(2)

Timing Investments in the Bond Markets

324

(1)

Selecting Mutual Funds and Other Investments

325

(2)

The Basic Five-Step Investment Sequence

327

(1)

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Opportunity Investing : How to Profit When Stocks Advance, Stocks Decline, Inflation Runs Rampant, Prices Fall, Oil Prices Hit the Roof, ... and Every Time in Between

Summary

Author Biography

Table of Contents

Supplemental Materials

FREE SHIPPING

Rent More, Save More! Use code: BBRENTAL

5% off 1 book, 7% off 2 books, 10% off 3+ books

Opportunity Investing : How to Profit When Stocks Advance, Stocks Decline, Inflation Runs Rampant, Prices Fall, Oil Prices Hit the Roof, ... and Every Time in Between

Summary

Author Biography

Table of Contents

Supplemental Materials

Digital License