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Commodities are experiencing a new up cycleand an examination of the major factors contributing to these price increases suggests they are not short-lived. World populations continue to expand, increasing global demand. Industrialization in China and India, as well as in other emerging markets, has greatly increased the need for energy and industrial products, while the supply remains limited. With the increased volatility in the commodities markets, the surge in interest, and the generally higher prices in everything from crude oil to copper to cocoa, it seems clear that every investor should have at least some exposure to commodities.
In Trader Vic on Commodities, Wall Street legend Victor Sperandeo explains in simple terms how these markets operate, removes some of the mystique and uncertainty involved, and offers a proven method for capitalizing on commodity market trendswithout taking giant risks. He introduces a valuable toolthe Standard & Poor's Diversified Trends Indicator (S&P DTI)to capture price movement, premiums, and discounts in the commodity futures markets. Sperandeo shows that, as commodities are cyclical in nature, the best goal is to capture as much of the major trends of each market as possible, while balancing that goal with a minimum of risk. The S&P DTIdesigned to be complementary to other investments, but with a negative historical correlation and completely uncorrelated to other investment classeshas produced alpha consistency with low volatility rather than outsized returns with higher volatility.
Perhaps most importantly, Sperandeo acknowledges that losses are part of the trading business. But if you are trading properly, he explains, you will find yourself able to lose more often than win and still remain profitable overall. Learning to accept, deal with, and minimize losses is the most important factor in determining your success as a trader.
Finding ways to remove the emotion and personal judgment from an investment strategy is also a crucial factor in long-term market profitability. The S&P Diversified Trends Indicator accomplishes these goals more successfully than most other strategies you will find. It will provide a well-researched, low-volatility strategy for taking advantage of commodity trends in a systematic way so as to earn consistently superior index returns over the long run.
Praise For Trader Vic On Commodities
"Victor Sperandeo is an extraordinary mentor, a 'wise and faithful advisor, friend, or teacher' as my dictionary says. His readers quote his advice long after reading his books. His new book, Trader Vic on Commodities, in some ways builds on his famous 2B rule, which is that you lose properly. This book, however, is really about winning and breaking new ground in commodities trading strategies. Sperandeo describes how an index that includes both traditional commodities and financial futures can provide a better inflation hedgeand more profitable trading strategythan an investment in traditional commodities alone. The book is a treasure of statistical tables to show both the 'how to' and the validity of Sperandeo's trading strategies. Readers will find him still, as Barron's titled him years ago, Trader Vic: The Ultimate Wall Street Pro."
Elizabeth B. Currier, President, The Committee for Monetary Research & Education
"Trader Vic on Commodities will surely become one of the must-read books for anyone interested in trading commodities."
Thomas Finley, Managing Director, Global Markets & Investment Banking, Merrill Lynch
"Only the legendary Trader Vic Sperandeo could bring such clarity to what to most is a complex and indecipherable subject. This book is a splendid achievement from one of the investing world's true originals. The only thing I'd recommend more highly than the book is taking Vic's trading advice."
Keith Styrcula, Chairman, Structured Products Association, CEO, WealthNotes Capital Management, LLC