Exchange Traded Funds and E-Mini Stock Index Futures / Edition 1

Hardcover (Print)
Buy New
Buy New from BN.com
$45.36
Used and New from Other Sellers
Used and New from Other Sellers
from $28.99
Usually ships in 1-2 business days
(Save 58%)
Other sellers (Hardcover)
  • All (9) from $28.99   
  • New (6) from $28.99   
  • Used (3) from $32.95   

Overview

Why invest in individual stocks when you can invest in a basket ofstocks that track the major domestic and global indices as well asimportant sectors such as technology, energy, or financial issues'The emergence of index products-first mutual funds, then indexfutures, and now exchange traded funds-has resoundingly answeredthis question with their profitability and widespread acceptanceover the last few years.

Arguably the most popular new products in the investment world,exchange traded funds (ETFs) and E-mini stock index futures (the"E" standing for electronic market access) have achieved moresuccess than even the most radically optimistic forecaster couldhave predicted. Industry executive and expert in the field, DavidLerman, reveals the intricacies of these products, how to use them,and what the future holds for these exciting investmentvehicles.

Launched in 1993, the first exchange traded fund-the S&P 500Depositary Receipts (SPDRs, affectionately known as"Spiders")-combined low costs, greater tax efficiencies, and superbliquidity for investors. This book explains dozens of new ETFs,including the popular QQQs, iShares, and streetTRACKS, and willteach you how these tools are used for long-term and short-termstrategies in broad-based and sector indices. It also discusses indepth how the E-mini S&P 500 and other E-mini Nasdaq-100futures allow traders to profit on the direction of indexes.

Exchange Traded Funds and E-mini Stock Index Futures offersinvestors, traders, investment advisors, and brokers a full-scaleexamination of these extraordinary products including:
* The nuts and bolts of ETFs and E-mini stock index futures,including the advantages and attributes of each product, the basicsof stock index futures from the clearinghouse to performance bondmargins, and contract specifications
* How ETFs and E-mini stock index futures can fit into nearly anyinvestor's portfolio and reduce costs, increase returns, andalleviate the tax burdens commonly associated with traditionalmutual funds
* Blending active management and indexing to create"core-satellite" strategies widely implemented byinstitutions
* How to use E-mini stock index futures for trading and spreadingstrategies, hedging, and other risk management strategies

With numerous charts, graphics, and case studies, Exchange TradedFunds and E-mini Stock Index Futures is a valuable resource foranyone looking to understand these tools and obtain superb results.

Read More Show Less

What People Are Saying

From the Publisher
'The publishing of Exchange Traded Funds and E-mini Stock IndexFutures provides investors, retail and institutional alike, greatinsight as to the structural advantages and applications of thesetwo innovative investment and trading instruments. The launch ofthese products continues the trend of democratization of indexinvesting empowering more investors to capitalize on the virtues ofindexing. Mr. Lerman's book is a great reference tool to gain abetter understanding of these exciting products.? (Nick Lopardo,Vice Chairman, State Street Corporation, and Chairman & CEO,State Street Global Advisors)

• This book is a must-read for anyone thinking ofinvesting/trading in Exchange Traded Funds (ETFs) and E-mini stockindex futures! Lerman combines excellent research with practicalexamples to provide a comprehensive analysis of one of the fastestgrowing products in all of finance.? (Jay Baker, Vice President ofExchange Traded Funds Marketing, Spear, Leeds & Kellogg)

'David is one of the most powerful communicators in theindustry. His succinct style and practical examples make this booka must-read for anyone thinking of investing in ETFs and E-ministock index futures. Standard & Poor's is proud to have playeda role in the success of these innovative and exciting newproducts.? (Shirley Petersen, Vice President, Global Licensing,Standard & Poor's Corp.)

• Here's a great guide for those looking to get started in indexinvesting and to learn how by using Wall Sybex's most successfulnew investment vehicles-exchange traded funds and E-mini stockindex futures.?(Erin Arvedlund, Staff Writer, Barron'smagazine)

'The ownership of index funds is a must for all long-terminvestors. David Lerman has done a terrific job of explainingeverything you need to know in order to take advantage of the broadarray of index fund products on the market. He shows just howsimple it is to be a participant in funds that routinely outperformnearly every money manager in existence.? (Lawrence G. McMillan,author of McMillan on Options and President, McMillan AnalysisCorp.)

Read More Show Less

Product Details

  • ISBN-13: 9780471442981
  • Publisher: Wiley
  • Publication date: 10/1/2001
  • Series: Wiley Trading Series , #110
  • Edition number: 1
  • Pages: 336
  • Product dimensions: 6.34 (w) x 9.67 (h) x 1.12 (d)

Meet the Author

DAVID LERMAN is the Associate Director of Equity Index Products Marketing at Chicago Mercantile Exchange Inc. Lerman was previously a member of the Chicago Board of Trade, where he traded futures and options on U.S. Treasury Bonds. He was also Senior Portfolio Manager at Zavanelli Portfolio Research, a Park Ridge, Illinois, investment management firm. Lerman taught investment management at Harper College and has lectured at the Northwestern University Kellogg Graduate School of Management. He received his BA in biochemistry from the University of Chicago.

Read More Show Less

Table of Contents

Preface.

Acknowledgments.

PART I: FROM RANDOM WALK TO A TRILLION-DOLLAR PHENOMENON.

From Random Walk to a Trillion-Dollar Phenomenon: Why IndexingWorks So Well.

The Players.

The Indexes.

PART II: EXCHANGE TRADED FUNDS.

ETFs: Beginnings, Advantages, Attributes.

Details: ETF Structures, the Creation-Redemption Process.

General Strategies Using ETFs.

ETF Highlights.

PART III: THE FASTEST-GROWING INDEX PRODUCTS: E-MINI S&P 500AND E-MINI NASDAQ-100 FUTURES—APPLICATIONS AND CASE STUDIES.

E-Mini Stock Index Futures: The History and BasicNomenclature.

E-mini Stock Index Futures: Contract Highlights, TradingFundamentals, Basis, and Fair Value.

Short-Term Strategies Using E-mini Stock Index Futures andETFs.

PART IV: ADVANCED TOPICS AND THE ROAD AHEAD.

Longer-Term Strategies: Asset Allocation with ETFs.

Risk: The Most Ignored Four-Letter Word.

ETFs Beyond the United States.

The Future of ETFs and E-mini Stock Index Futures: The RoadAhead.

Frequently Asked Question (and Answers) About ETFs and E-Mini StockIndex Futures.

Appendix 1: Electronic Trading Considerations.

Appendix 2: ETFs and Small-versus Large-Cap Cycles.

Appendix 3: Index Arbitrage and Program Trading.

Endnotes.

Glossary.

Suggested Reading.

Recommended Web Sites.

Timeline.

Answers to Quizzes.

Index.

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)