Enhanced Indexing Strategies: Utilizing Futures And Opti*** To Achieve Higher Performance提高标定指数的策略：利用期货与期权实现高业绩 mobi 下载 网盘 caj lrf pdf txt 阿里云

Leveraged index investments, including index futures, opti***, and ETFs, are one of the fastest growing products in finance, as both retail and institutional investors are attracted to their long-term returns and capital efficiency. With Enhanced Indexing Strategies, author Tristan Yates reveals how you can create and build high-performance indexing strategies using derivatives that can potentially generate much higher returns than conventional index investing. In addition, Enhanced Indexing Strategies introduces six innovative long-term indexing strategies using futures and opti***, each with its own advantages and applicati***.

Index funds are among the highest performing and most reliable investments available in the marketplace. Over the past several years, li***lly hundreds of index-related products have been introduced to the marketplace, most designed to provide investors with the capability to mix and match different funds in order to build custom portfolios. At the same time, leveraged investment products for the retail investor—which use borrowed capital to increase the returns within the structure of a passive investment strategy—are also one of the fastest growing products in the financial world. In Enhanced Indexing Strategies, Tristan Yates shows how to successfully combine these products using leveraged indexing to deliver better risk-adjusted returns than conventional approaches.

The idea behind leveraged investing is ***: if long-term investment returns are predictable, then even higher returns can be generated by borrowing and investing the capital over the long term in an index. Using derivatives such as futures and opti***, Yates reveals it is possible to not only borrow money to invest at a low rate, but also to implement hedging strategies that help reduce the risk of catastrophic losses.

Unlike other books on opti*** trading that tell how to profit from short-term market movements, Enhanced Indexing Strategies uses opti*** positi*** to capture long-term pricing trends. Using long calls and call spreads, hedging strategies, and LEAP call opti***—which have been hailed as an industry innovation due to their ability to maintain leverage while managing risk—Yates shows how to implement specific long-term strategies that can capture appreciation in volatile conditi*** across many years.

In addition to providing six different innovative long-term indexing strategies using futures and opti***, Yates also offers important advice on managing a leveraged investing portfolio. He covers each critical ***ect of portfolio management: selecting indexes and strategies and determining the level of exposure, calculating the expected returns and the possible range of returns, and monitoring the portfolio to ensure that it is performing in accordance to projecti***. Yates's final piece of advice to investors is ***: get started. Every day you're not invested in an index is a missed opportunity for profits.

作者简介：

Tristan Yates researches and writes about global index investing, leveraged portfolio management, and derivative strategies for many publicati***, including Futures & Opti*** Trader, Seeking Alpha, and Investopedia, and his articles are distributed through Yahoo! Finance, Forbes, Kiplinger, and MSN Money. An industry expert on leveraged ETFs, his research has been cited in the Wall Street Journal.

Preface

CHAPTER 1 Owning the Index　

　The Story of Indexing　

　Indexing: Strategy or Philosophy?

　　Active Investment Selection　

　　Index Investing and the Efficient Markets　

　　Reconciling Indexing and Active Investing　

　Index Risk and Reward　

　　Drift and Noise　

　　Momentum, Mean Reversion, and Market Cycles　

　　Cycles and Regime Change　

　　Understanding Volatility　

　High Performance Indexes　

　　Small Cap and Value Premium　

　　Stock Migration　

　　Additional Factors　

　Forecasting Index Returns　

　Summary　

CHAPTER 2 Applying Leverage　

　Leveraged Investments: C***ervation of Risk　

　Using the Leverage Ratio　

　Underwater Investments　

　Debt and Interest Effects　

　Sources of Leverage.

　　Margin Loans　

　　Futures　

　　Opti***　

　　Example: Synthetics　

　　Other Debt Sources　

　Managing a Leveraged Portfolio　

　　Portfolio Sizing　

　　Portfolio Allocati***　

　　Rebalancing with Leverage　

　　Dollar Cost Averaging and Liquidity Preference　

　　Reinvesting Leveraged Gains　

　Summary　

CHAPTER 3 Indexing with Synthetics and Futures　

　Asset Allocation　

　Index Portfolio Returns　

　　Applying Leverage　

　Holding Synthetic Positi***　

　Transaction Costs　

　Expected Returns and Reinvestment　

　Adding Portfolio Volatility　

　Random Scenarios with Monte Carlo　

　Margin Calls　

　Substituting Futures　

　Summary　

CHAPTER 4 Capturing Index Appreciation with Calls　

　Intuitive Option Pricing　

　　Opti*** as Potential Liabilities　

　　Strike Prices　

　　Time and Volatility　

　　Dividends and Interest Rates　

　　Following an Option　

　　Risk Components of Various Opti***　

　Capturing Appreciation with Opti***　

　　Daily Cost of Opti***　

　　Volatility Skew　

　　Uneven Appreciation　

　Option Analysis　

　　Marginal Returns—Extending Time or Lowering Strike　

　　Out-of-the-Money　

　　Monthly Returns of Calls　

　　More about Volatility　

　Summary　

CHAPTER 5 Leveraged Covered Calls with Futures　

CHAPTER 6 Rolling LEAPS Call Opti*** Explained.

CHAPTER 7 Long-Term Returns Using Rolled LEAPS　

CHAPTER 8 Long and Short Profits with Call Spreads　

CHAPTER 9 Cycling Earnings Using Spread Positi***　

CHAPTER 10 Practical Hedging with Put Spreads　

CHAPTER 11 LEAPS Puts and Three Ways to Profit　

CHAPTER 12 Managing the Leveraged Multistrategy Portfolio.

Summary　

Final Words　

APPENDIX List of Index ETFs and Futures　

About the Author

Index　

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