• Buy and Hold is Still Dead (Again)
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Buy and Hold is Still Dead (Again)

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The current academic and financial planning industry definitions of “risk” are changing quickly, but the notion of what constitutes a risky investment strategy is still stuck in the Dark Ages. Weal...
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  • 05 January 2016
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The current academic and financial planning industry definitions of “risk” are changing quickly, but the notion of what constitutes a risky investment strategy is still stuck in the Dark Ages. Wealth management expert Kenneth Solow takes a fresh look at the investment industry’s reliance on Buy and Hold investing, exposing the flaws and potential dangers of this strategy during long-term bear markets. The fact is, patiently waiting for stocks to deliver historical average returns is not an effective investment strategy.

Solow advocates a different approach called Tactical Asset Allocation, and he offers the reader an unparalleled look into the methods, techniques, and safeguards of active portfolio management. Now in its second edition with updated material and a new chapter, "Buy and Hold is Dead (Again)" remains an invaluable investment guide for our financially challenging times.

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Price: $44.95
Pages: 330
Publisher: Morgan James Publishing
Imprint: Morgan James Publishing
Publication Date: 05 January 2016
Trim Size: 9.21 X 6.14 in
ISBN: 9781630478179
Format: Hardcover
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“Solow’s one-two punch book delivers a compelling account that the old conventional wisdom of buy-and-hold should be a relic of history. The modern understanding of secular stock market cycles drives his compelling knockout that active portfolio management is essential for today’s investor.” --- Ed Easterling, Author, Unexpected Returns: Understanding Secular Stock Market Cycles

“It is perhaps embarrassing that we must turn to books like Solow’s for insights that the CFA curriculum should have been inculcating for two decades. This book not only explains these insights, but translates them into practical policies that investors can utilize to meet their true objectives.” --- H. “Woody” Brock, Ph.D. Founder and President, Strategic Economic Decisions, Inc.

“If the government fails to mop up the recent flood of liquidity, active asset allocation, as Solow advocates, will be required to adjust for a dangerous new inflation environment. This is an excellent book for financial advisors.” --- Steve Leuthold, Founder and Chief Investment Officer, The Leuthold Group

EKenneth R. Solow is the co-founder and Investment Committee Chair at Pinnacle Advisory Group, Inc. A popular speaker and writer, he is nationally known for his views on active management, and his 2009 book, Buy and Hold is Dead (Again): The Case for Active Portfolio Management in Dangerous Markets, is considered the definitive work in the field.
Part one: buy and hold is dead

Chapter 1: WE’RE ALL IN

Chapter 2: The Risks of Buy and Hold Investing In Bear Markets (or, Why You May Never Be Able To Retire)

Chapter 3: Why The Financial Industry Believes In Buy and Hold Investing

Chapter 4: Hogs, Cobwebs, And Other Imperfect Assumptions

Chapter 5: The Theoretical Case For Active Portfolio Management

Chapter 6: The Trouble With Quant Models

Chapter 7: Compelling Evidence That Active Management Really Works

Part Two: Active Portfolio Management

Chapter 8: Portfolio Strategy In A Post-Lehman World

Chapter 9: Becoming An Investment Expert (or, How To Be Right For The Right Reasons)

Chapter 10: The Incredible, Amazing P/E Ratio

Chapter 11: Developing A Point Of View With Top-Down Analysis

Chapter 12: Bottom-Up Investment Analysis: A Case Study

Chapter 13: The Psychology Of Making Investment Mistakes

Chapter 14: The Tax Tail And The Portfolio Dog

Chapter 15: Decisions, Decisions, Decisions

Chapter 16: Industry Forecast (An Essay)