PDF Andreas Clenow Ç Stocks on the Move PDF/EPUB È Stocks on PDF \ Ç

Beating the stock market isn’t very difficult Yet almost all mutual funds consistently fail Hedge fund manager Andreas F Clenow takes you behind the scenes to show you why this is the case and how anyone can beat the mutual funds Momentum investing has been one of very few ways of consistently beating the markets This book offers you a uniue back stage pass guiding you through how established hedge funds achieve their results The stock markets are widely misunderstood Buying and selling stocks seems so simple We all know what stocks are and what the companies produce We’re told that stocks always go up in the long run and that everyone should be in the stock markets Oversimplifications like that can end up costing you In the long run the major stock indexes show a performance of five to six percent per year For that return you will have to bear occasional losses of over half your capital and be forced to wait many years to recover your money Yes in the long run stocks do go up But the story isn’t that simple Stocks on the Move outlines a rational way to invest in the markets for the long term It will walk you through the problems of the stock markets and how to address them It will explain how to achieve twice the return of the stock markets at considerably lower risk All rules and all details will be explained in this book allowing anyone to replicate the strategies and research Andreas F Clenow is the chief investment officer and partner of ACIES Asset Management based in Zurich Switzerland Starting out as a successful IT entrepreneur in the 90s boom he enjoyed a stellar career as global head of euity and commodity uant modeling for Reuters before leaving for the hedge fund world Having founded and managed multiple hedge funds Mr Clenow is now overseeing asset management and trading across all asset classes He is the author of best selling and critically acclaimed book Following the Trend and can be reached via his popular website wwwFollowingTheTrendcom

10 thoughts on “Stocks on the Move

  1. says:

    Excellent Resource for Euity Portfolio ConstructionWritten by a seasoned professional this book outlines a method to beat buy and hold sp500 for euities but can really be applied to any basket of stocks There is enough detail in this book for you to implement the calculations in Excel or Google sheets which can act as a check against a robust implementation in Python C or some other general programming language There's an interesting chapter on random portfolios and how fifty randomly picked portfolios beat the sp500 No detailed analysis was done but from a graph of returns vs risk I suspect a random handful of stocks will have a higher beta than one and over a long period when the market rises higher beta portfolios will win This leads me to wonder how much of the momentum strategy is due to beta and how much is real alpha Shorting against a beta adjusted sp500 index in a backtest will provide the answer Unfortunately running a simulation is much harder than just generating a current portfolio you will have to calculate total returns adjusted with historical split and dividend data You will also have to dig up historical sp500 components for inclusions and removals over time Overall one of the best books I've read on professional euity portfolio construction highly recommended

  2. says:

    I have always considered Clenow as the master of momentum investing What I liked about this book the most is the use of exponential regression to measure momentum against the amateur approach of using ROC Clenow goes a step further to calculate regression fit as a risk management tool and employs risk parity position sizing Personally I have modified the 200day MA on the index to 75day MA exit in my backtest which reduced the drawdowns drastically This is a must read book for any uant enthusiast

  3. says:

    Best practical momentum trading bookThe author goes to great lengths to simplify and give the reader actionable steps and a practical system they can implement Of course like any good teacher it’s not about what he gives us it’s about understanding the why What’s the main point of this book risk management and momentum strategies have an edge

  4. says:

    Mind blowing The concept makes perfect sense Literally I have read this book in a week following the concept and working on my own implementation of the ranking model using data from Alpha Vantage I’ve just started buying some stocks but alas the index is gone down MA 200 this week Great opportunity to test the strategy and my determination to stick with it Thanks

  5. says:

    Reco by my trader mentor JaganMy fav uotes not a review Page 12 |Here’s the simple explanation Start with the index at 100 The first day the index drops by 10% Now the index is at 100 the short ETF is at 110 and the double short at 120 Great for the short ETFs The next day the index moves back to 100 gaining 11% Would you expect your short ETFs to be back to where they started? The short ETF losing 11% of 110 is down to 978 The double short loses 22% of 120 down to 933 Page 44 |A trailing stop will be used as is common with trend following models Page 70 |It’s an approach usually referred to as risk parity allocation By looking at the volatility of each stock we can scale each position size according to that The idea is to buy smaller positions of volatile stocks so that each stock has an eual theoretical ability to impact the bottom line of the portfolio

  6. says:

    Great book goes over the construction of a single name stock momentum strategy Goes over the thought process involved for each parameter construction of the entire strategy as well as results and review process

  7. says:

    i lernd stuff n things

  8. says:

    Good read for beginners on how to trade systematically

  9. says:

    I am a big fan of Andreas' previous book Following the Trend Diversified Managed Futures Trading He didnot fail us by writing the new book on euity momentum tradingIn this book he gave the full details of a momentum trading strategy which covers the concept system execution and eloborate a lot on how we do ranking risk parity position sizing weekly portfolio rebalancing and so on It will be better if he can lay out on the stats of the strategy win rate wl ratio and others But I think he suppose us to be able recreate the backtesting following his instructions Well done Andreas

  10. says:

    This book is a detailed breakdown of a fully functioning momentum based fund Its very detailed and easy to understand I particularly liked the year by year account of the fund just to hear the struggles from a professionalThe strategy that is employed is systemic mathematical and rather simple Although this is a solid strategy to apply to stocks I find it that it isn't something for me as you 1 reuire a decent size of capital 2 play the long term game 10 year ? 3 systemicuant approach However interesting book to learn something from