Systematic Trading: A unique new method for designing trading and investing systems

Harriman House Limited
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 This is not just another book with yet another trading system. This is a complete guide to developing your own systems to help you make and execute trading and investing decisions. It is intended for everyone who wishes to systematise their financial decision making, either completely or to some degree.

 

Author Robert Carver draws on financial theory, his experience managing systematic hedge fund strategies and his own in-depth research to explain why systematic trading makes sense and demonstrates how it can be done safely and profitably. Every aspect, from creating trading rules to position sizing, is thoroughly explained. The framework described here can be used with all assets, including equities, bonds, forex and commodities.

 

There is no magic formula that will guarantee success, but cutting out simple mistakes will improve your performance. You'll learn how to avoid common pitfalls such as over-complicating your strategy, being too optimistic about likely returns, taking excessive risks and trading too frequently.

 

Important features include:

 

- The theory behind systematic trading: why and when it works, and when it doesn't.

- Simple and effective ways to design effective strategies.

- A complete position management framework which can be adapted for your needs.

- How fully systematic traders can create or adapt trading rules to forecast prices.

- Making discretionary trading decisions within a systematic framework for position management.

- Why traditional long only investors should use systems to ensure proper diversification, and avoid costly and unnecessary portfolio churn.

- Adapting strategies depending on the cost of trading and how much capital is being used.

- Practical examples from UK, US and international markets showing how the framework can be used.


Systematic Trading is detailed, comprehensive and full of practical advice. It provides a unique new approach to system development and a must for anyone considering using systems to make some, or all, of their investment decisions.

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About the author

 Robert Carver worked in the City of London for over a decade. He initially traded exotic derivative products for Barclays investment bank and then worked as a portfolio manager for AHL – one of the world’s largest systematic hedge funds – before, during and after the global financial meltdown of 2008. He was responsible for the creation of AHL’s fundamental global macro strategy and then managed the fund’s multi-billion dollar fixed income portfolio before retiring from the industry in 2013. Robert, who has bachelors and masters degrees in Economics, now systematically trades his own portfolios of futures and equities.

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Additional Information

Publisher
Harriman House Limited
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Published on
Sep 14, 2015
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Pages
325
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ISBN
9780857195005
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Language
English
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Genres
Business & Economics / Investments & Securities / Analysis & Trading Strategies
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Content Protection
This content is DRM protected.
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Read Aloud
Available on Android devices
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Eligible for Family Library

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 A simple, quick and effective approach to quantitative fundamental analysis


The Lazy Fundamental Analyst presents a collection of strategies based on the application of quantitative analysis to fundamentals-based investing. It will appeal to anyone looking for simple, effective and low-risk investing strategies.


The strategies are organised by ten business sectors: Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Telecommunication Service and Utilities. For each sector a strategy is proposed for large capitalisations (companies in the S&P 500 Index) and another is given for small capitalisations (companies in the Russell 2000 index).


For each sector, and each strategy, Fred Piard explains how to follow his 'lazy' approach to choose stocks by using only a couple of financial ratios. The strategies eschew detailed due diligence of companies and markets - instead they rely on applying quantitative techniques to filter out the best investments in each sector. These strategies can be managed in just a few minutes per month, making them suitable for those who only have limited time to devote to investing but still wish to have a winning return. Portfolio protection through the use of market timing and hedging is also presented and this can be used with any of the strategies.


If you don't have the inclination for in-depth fundamental analysis, or only have a few spare minutes per month for your investing, try Fred Piard's lazy approach to quantitative analysis.

This book offers the small investor unique assistance that is not found in other publications offering investment advice. The small investor is, in effect, competing with professional money managers, who are often on the opposite side of a trade. If a stock is becoming cheaper because institutions (the mutual funds, hedge funds, etc.) are net sellers, should you, the individual, buy? The professionals have access to corporate managements, employ or have access to paid staffs of analysts, are trained to read a companys financial statements, and actively participate in company conference calls. In short, this is still an uneven playing field, even though SEC Regulation FD (for fair disclosure) has mandated the dissemination of material information in a more equitable fashion. This book is comprised of three sections. Part One describes the major institutional investor groups and the deep resources at their disposal. Part Two illustrates the tools available to small investors that can create a more level playing field. Access to company-sponsored conference calls and web casts are examples that are open to individual, as well as professional investors, but many either are unaware of these tools or fail to avail themselves of these opportunities. The main section of the book is an outline of 24 key industry groups that comprise the S&P 500; the salient metrics and terms; the valuation methods that investors use; most common questions asked on conference calls; and what motivates pros to buy or sell the stocks. Why are some technology stocks often valued as a multiple of sales when most industries are measured by their price/earnings (P/E) multiple? What is the appropriate price/cash flow multiple for industries that are measured by that metric? Why do analysts scrutinize a retailers same-store sales and the semiconductor industrys book-to-bill ratio? These are among the many issues that are crucial to successfully investing in individual stocks. Understanding how pros judge companies and value their stocks will enable people to make better investment decisions and, hopefully, realize greater returns on their stock portfolios. A good introduction to stock market investing, coming at the perfect time. 2014 will be a challenging year and readers of Mark Mandels new book will be ready. John Rubino, author of Clean Money: Picking Winners in the Green Tech Boom
Smart Portfolios is about building and maintaining smart investment portfolios. At its heart are the three key questions every investor needs to answer:

1. What to invest in.

2. How much to invest.

3. When to make changes to a portfolio.

Author Robert Carver addresses these three areas by providing a single integrated approach to portfolio management. He shows how to follow a step-by-step process to build a multi-asset investment portfolio, and how to rebalance the portfolio efficiently. He covers both investment in collective funds like ETFs, and also direct investment in individual equities.

Important features include:

-- Why forecasting future returns is so difficult, and how to account for uncertainty  when making investment decisions.

-- How to accurately calculate the true costs of an investment, including costs that you may not even be aware of.

-- How to select the best ETF for each asset class.

-- How to compare the costs and other features of different ETFs.

-- How to select individual shares.

-- Calculating the number of shares needed for adequate diversification.

-- How to use systematic forecasting algorithms to adjust portfolio allocations.

-- How to cut trading costs through smart rebalancing strategies and execution tactics.

Robert Carver also explains how to blend assets with different levels of risk, and how to construct portfolios that suit the level of risk that the investor can cope with.

Smart Portfolios is detailed, comprehensive, and full of practical methods, rules of thumb and techniques, all fully explained with examples. It is intended for professional investors worldwide, including financial advisors, private bankers, wealth managers and institutional funds; as well as experienced private investors.

Turn insight into profit with guru guidance toward successful algorithmic trading

A Guide to Creating a Successful Algorithmic Trading Strategy provides the latest strategies from an industry guru to show you how to build your own system from the ground up. If you're looking to develop a successful career in algorithmic trading, this book has you covered from idea to execution as you learn to develop a trader's insight and turn it into profitable strategy. You'll discover your trading personality and use it as a jumping-off point to create the ideal algo system that works the way you work, so you can achieve your goals faster. Coverage includes learning to recognize opportunities and identify a sound premise, and detailed discussion on seasonal patterns, interest rate-based trends, volatility, weekly and monthly patterns, the 3-day cycle, and much more—with an emphasis on trading as the best teacher. By actually making trades, you concentrate your attention on the market, absorb the effects on your money, and quickly resolve problems that impact profits.

Algorithmic trading began as a "ridiculous" concept in the 1970s, then became an "unfair advantage" as it evolved into the lynchpin of a successful trading strategy. This book gives you the background you need to effectively reap the benefits of this important trading method.

Navigate confusing markets Find the right trades and make them Build a successful algo trading system Turn insights into profitable strategies

Algorithmic trading strategies are everywhere, but they're not all equally valuable. It's far too easy to fall for something that worked brilliantly in the past, but with little hope of working in the future. A Guide to Creating a Successful Algorithmic Trading Strategy shows you how to choose the best, leave the rest, and make more money from your trades.

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