Lerman Exchange Traded Funds and E-Mini Stock Index Futures

1. Auflage 2002
ISBN: 978-0-471-21790-9
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 336 Seiten, E-Book

Reihe: Wiley Trading Series

Shows how to use both ETFs and E-Minis for high-poweredresults
Exchange Traded Funds (ETFs) are a remarkable new tool fortrading and investing in broad market segments or narrow sectors.ETF trading volume and asset growth continue to soar at recordlevels. Ideal for speculating in and hedging as well as long-terminvesting in the broader markets, these index products worktogether to diversify and balance any global portfolio. Now, one ofthe top executives (and experts) in the industry reveals theintricacies of the products, how to use them, and what the futureholds. Readers will get sample index portfolios and strategies forall market participants--ranging from the short-term trader to thelong-term investor; and from the risk taker to the conservativeinvestor.
David Lerman (Chicago, IL) is the Senior Director ofEquity Index Products Marketing at the Chicago Mercantile Exchange.He has traveled around the globe on behalf of the CME, givingseminars and workshops to retail and institutional audiences,including pension funds, corporations, banks and brokers on riskmanagement/trading using equity index futures and options.

Autoren/Hrsg.

Lerman, David

Inhaltsverzeichnis

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.

Über Autor(innen)

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.