Investing From the Top Down: A Marco App

In Investing from the Top Down, Anthony Crescenzi, esteemed financial author and chief bond strategist for Miller Tabak & Co., explains how to develop new, highly effective investment strategies by taking a macro view of the factors shaping industries and markets. Emphasizing the importance of economic and market cycles (as opposed to a bottom-up approach, which places valuation ahead of the big picture) top-down investing is better suited for today's global economy and will likely become the dominant strategy in the future.

Crescenzi provides more than fifty tools for analyzing domestic and international trends and indicators, such as GDP growth rates, inflation, interest and exchange rates, and energy prices. He then explains how to narrow your search down to region, total sales, price levels, competition, and entry/exit from market to make astute buying and selling decisions. Crescenzi explains why "thematic" investing is the ideal approach for:

• Taking full advantage of exchange traded funds (ETFs)
• Using the policies of central banks to steer your investments
• Designing diversification best suited for the long term
• Using sector selection to insulate your portfolio from risk
• Maximizing profits when market sentiment spikes or plummets
• 作者簡介

  Anthony Crescenzi, chief bond strategist at Miller Tabak & Co., is the author of The Strategic Bond Investor and Stigum's Money Market, 4th Edition. He frequently appears on business and finance programs, including NBC's "Wall Street Journal Report," CNBC, and Bloomberg. He is a contributor to realmoney.com.

• 目次

  Section I: Investing from the Top-Down
  The Leading Top-Down Factors:
  When to Buy
  When to Sell
  
  Section 2
  Equities
  Consumer cyclicals
  Basic materials
  Financials
  Health care
  Oil & gas
  Technology
  Utilities
  Fixed-Income Securities
  U.S. Treasuries
  Investment-grade corporate bonds
  Junk bonds
  Agency Securities
  Mortgage-backed securities
  The money market
  Emerging debt markets
  Commodities
  Grains
  Metals
  Industrials
  Currencies
  Real estate
  Private equity
  
  Section 3
  Stock up or reduce inventories
  Invest in capital equipment
  • Hire new workers
  • Choose a fixed rate or a floating rate debt obligation
  • Invest abroad
  • Manage foreign exchange risks