All Trading Books

A comprehensive guide to international investing

Opportunities to tap into foreign markets and, in turn, entirely new investment universes-that have traditionally been accessible only to hedge fund managers-are at hand, and this book offers you the straight story on how to look abroad for the next addition to your portfolio.

Throughout these pages, the authors skillfully demonstrate how active, cutting-edge trading strategies used in domestic markets can be applied effectively overseas. Opening with discussions of the importance of international investing in today's turbulent markets, this reliable resource quickly moves on to examine the macro relationships between the different asset classes within a given country and shows you how to view those asset classes-stocks, bonds, currencies, and commodities-as a complete picture of what is happening in the investing world.

• Addresses the application of strategies to international portfolio development and management
• Clearly defines different financial markets and reveals how they can best be accessed and traded
• Features information on currency trading and investing in foreign real estate as well as insights on swaps, futures trading, and risk management

The Investor's Passport to Hedge Fund Profits demystifies international investing and gives you the tools by which to effectively profit from a wide array of asset classes.

User Reviews about Investor's Passport to Hedge Fund Profits: Unique Investment Strategies for Today's Global Capital Markets (Wiley Trading)

I was most impressed with this book. Having spent a career as a Financial Planner and Investment Advisor, I was particularly impressed with the global perspective of the author. I also taught Strategic Management for 20 years, and the authors have very correctly captured the idea that the old paradigms of the past just cannot work, and that a global approach is pretty much necessary if you want to see significant growth of investments. This is not your typical hedge fund book. This book doesn't emphasize risky investments. Nor does it talk about investing in derivatives. Instead, it is talking about, quite literally, hedging against down markets and putting your investment dollars into places where there is positive growth even amid this economic crisis.

I was also impressed with the number of resources the authors provided. With the age of the internet, the authors have effectively put all the tools anInvestor's Passport to Hedge Fund Profits: Unique Investment Strategies for Today's Global Capital Markets (Wiley Trading) investor might need in a nice, neat format, equiped with URLs and other very useful information. Despite my years in the business, I still learned a few things!

The books reads well and intellilgently. It is logical, concise, and offers many examples. I found this book very worth reading as a professional. If a non professional were to read this book, I have no doubt it would lead them toward a path of increased investment profits. I must admit, I was surprised at how well it flowed for a topic that is not the easiest to understand. The authors broke down the components of investing so well that readers of any experience in the markets would probably benefit. Very well done...a real A+ for the authors. Highly timely and relevant to today's economic situation. -- Investors Passport to Hedge Fund Profits

What I liked about this book so much centers around two things: its comprehensiveness and its intense focus on mitigating risk.

Starting with comprehensiveness: This book is for people who are serious about looking for investment opportunities internationally. It covers foreign equities (like most international investing books) but where it really separates itself is the breadth it uses to describe strategies and opportunities for investing in foreign fixed income and real estate (physical and financial). It also does the best job of any book I've read in explaining how to use derivatives "For Offense and Defense", even though it's not a derivatives book. The derivatives and currency chapters are actually the best in the book (full disclosure: this is coming from a domestic equity analyst) in terms of getting the reader to understand both the fundamental and technical issues in these markets. Simply put, this book goes so far beyond what most professional money managers do when they or their clients want international exposure (buy the EFA and/or EEM). I sincerely believe that in the future, the international analysis done by US investors will have to evolve beyond these two ETF's, and so I think this book is WAY ahead of that curve. It definitely gave me a vastly better understanding of international markets and the opportunities that exist in them.

Considering risk: I just have to say that it was nice to read an international investing book/commentary that focuses on mitigating the risks in investing in foreign markets, and not just on the potential returns. Don't get me wrong, though - the authors do not mince words in describing the diversification benefits of investing overseas along with the opportunity for high returns. But it is clear that they are not looking for a lottery ticket, every asset class, strategy, or "tool" they describe comes with a detailed discussion of the risk involved and tactics to mitigate it. The authors are looking for opportunities not only with high returns, but a favorable risk/reward profile to go with it. This is different than most international investing books/websites that tell you how Brazil's stock market is up X% versus the S&P 500 over the last ten years and ends the discussion there. Every great investor I've ever known/worked for/worked with focused first on the risk in every opportunity, and I wouldn't trust the authors of any book that didn't either.

It is so comprehensive that I really can't describe it all in this review. It is written in way that will allow beginning investors to understand, but is designed for the investor of medium/high sophistication (I would guess the target is for other professionals along with individuals who manage their own money). The one thing I didn't mention above about the book is that it is full of examples of the strategies it describes (read: this is a practice book, not a theory book). The book also has a website that goes with it, where it looks like the authors post some international commentary and free education. I haven't had a chance to really check it out yet, but given how useful this book has been I definitely will.
-- You will learn a lot (very practical)