Active Value Investing Making Money in Range-Bound Markets
- Active Value Investing Making Money in Range-Bound Markets
"Active Value Investing: Making Money in Range-Bound Markets" (Wiley, 2007) is a book written by Vitaliy Katsenelson, and describes a strategy for sideways stock market. In the first part of the book Katsenelson makes an argument that for next dozen years or so the US market will be range-bound. In the second part he provides a strategy for this market. Investors look at stock market as a 11% a year compounding machine, and though this is true for the long-run (a full market cycle, 30 years or longer), in the short run stock market returns are often far above or far below the average. As Katsenelson argues in his book - returns are to large degree a function of starting valuation. High valuation leads to below average returns, low valuations lead to above average returns.
Katsenelson's BusinessWeek video interview [http://feedroom.businessweek.com/?fr_story=653c26f1423f522da47d16cfb9b655eecbb7a8d8] and a fairly lengthy article he wrote for John Mauldin's [http://ContrarianEdge.com/2008/04/20/is-it-a-bull-bear-or-cowardly-lion-market/] newsletter describe concepts of Active Value Investing in great detail.
External links
* [http://ActiveValueInvesting.com Official web site]
Wikimedia Foundation.
2010.
Look at other dictionaries:
Vitaliy Katsenelson — is a Director of Research at Investment Management Associates [http://imausa.com] , he is an author of Active Value Investing Making Money in Range Bound Markets (John Wiley Sons, 2007). Biography Katsenelson immigrated to the United States from… … Wikipedia
United Kingdom — a kingdom in NW Europe, consisting of Great Britain and Northern Ireland: formerly comprising Great Britain and Ireland 1801 1922. 58,610,182; 94,242 sq. mi. (244,100 sq. km). Cap.: London. Abbr.: U.K. Official name, United Kingdom of Great… … Universalium
United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… … Universalium
china — /chuy neuh/, n. 1. a translucent ceramic material, biscuit fired at a high temperature, its glaze fired at a low temperature. 2. any porcelain ware. 3. plates, cups, saucers, etc., collectively. 4. figurines made of porcelain or ceramic material … Universalium
China — /chuy neuh/, n. 1. People s Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Cap.: Beijing. 2. Republic of. Also called Nationalist China. a republic consisting mainly of the island of Taiwan off the SE coast … Universalium
Spain — /spayn/, n. a kingdom in SW Europe. Including the Balearic and Canary islands, 39,244,195; 194,988 sq. mi. (505,019 sq. km). Cap.: Madrid. Spanish, España. * * * Spain Introduction Spain Background: Spain s powerful world empire of the 16th and… … Universalium
Computers and Information Systems — ▪ 2009 Introduction Smartphone: The New Computer. The market for the smartphone in reality a handheld computer for Web browsing, e mail, music, and video that was integrated with a cellular telephone continued to grow in 2008. According to… … Universalium
Day trading — This article is about the practice. For the occupation, see Day trader. Day trading refers to the practice of buying and selling financial instruments within the same trading day such that all positions are usually closed before the market close… … Wikipedia
History of economic thought — The history of economic thought deals with different thinkers and theories in the field of political economy and economics from the ancient world to the present day. British philosopher Adam Smith is cited by many as the father of modern… … Wikipedia
Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… … Universalium
