{"product_id":"invest-like-a-fox-not-like-a-hedgehog-isbn-9780470126332","title":"Invest Like a Fox... Not Like a Hedgehog","description":"\u003cb\u003eProven techniques for leading-instead of following-fast-changing markets\u003c\/b\u003e  \u003cp\u003eInvestors, no matter what strategy they are using, can be placed into two categories. Single-minded, inflexible hedgehogs lock into one strategy and stick with it through thick and thin. Dynamic, adaptable foxes, on the other hand, are alert for changes, learn from experience, embrace new ideas, and make the most of new trends and technologies. The key lies in being flexible and realizing that markets are dynamic. \u003ci\u003eInvest Like a Fox . . . Not Like a Hedgehog\u003c\/i\u003e shows investors how being a hedgehog can reduce returns while increasing the risk of a portfolio, and how acquiring the cunning and adaptability of the fox will improve returns while reducing risk. It reveals the shortcomings of popular but hedgehog-like investment strategies and shows how a fox-like investor adjusts to new market realities. Readers learn how to use the renowned Bayesian Theory of Probability and other guideposts from outside the world of finance to adjust their strategies and react to new information.\u003c\/p\u003e \u003cp\u003eForeword ix\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xxi\u003c\/p\u003e \u003cp\u003eAbout the Author xxiii\u003c\/p\u003e \u003cp\u003eChapter 1 Foxes vs. Hedgehogs 1\u003c\/p\u003e \u003cp\u003eChapter 2 Classic Hedgehog Investment Strategies 25\u003c\/p\u003e \u003cp\u003eChapter 3 The Modern Hedgehog Theory 45\u003c\/p\u003e \u003cp\u003eChapter 4 How Foxes Look at Markets 85\u003c\/p\u003e \u003cp\u003eChapter 5 The Valuation Cycle in Action 111\u003c\/p\u003e \u003cp\u003eChapter 6 Foxes and Reverend Bayes: Rational Investing in Irrational Markets 133\u003c\/p\u003e \u003cp\u003eChapter 7 Advice for Foxes and Hedgehogs: Key Investment Mistakes to Avoid 177\u003c\/p\u003e \u003cp\u003eChapter 8 Portfolios of the Future 195\u003c\/p\u003e \u003cp\u003eIndex 227\u003c\/p\u003e \u003cp\u003e\u003cb\u003eROBERT C. CARLSON\u003c\/b\u003e is Editor of the monthly newsletter \u003ci\u003eRetirement Watch\u003c\/i\u003e. He is also the managing member of Carlson Wealth Advisors, LLC. Carlson is Chairman of the Board of Trustees of the Fairfax County Employees’ Retirement System, which has over $2.4 billion in assets, and was a member of the Board of Trustees of the Virginia Retirement System, which oversees $42 billion in assets. He has been interviewed by or quoted in numerous financial publications and has appeared on many national television and radio programs.\u003c\/p\u003e  \u003cp\u003e\u003ci\u003eWhy do most investors earn less than they should? \u003c\/i\u003e \u003c\/p\u003e \u003cp\u003e\u003ci\u003e Why do widely followed investment strategies fail to meet investors’ goals? \u003c\/i\u003e  \u003c\/p\u003e\u003cp\u003e\u003ci\u003eIs there an explanation for market volatility and for long-term bull and bear markets? \u003c\/i\u003e  \u003c\/p\u003e\u003cp\u003eA venerable investment axiom is: The most dangerous sentence in investing is “This time it is different.” Yet, something always is different. Investment markets are dynamic—they reflect the interaction of millions of people each day—and things change. Successful investors learn to distinguish between the relationships that do not change from those that do.  \u003c\/p\u003e\u003cp\u003eThe fact is, if you want to excel in any type of investment environment—and improve returns while reducing risk—you must move away from the inflexible mindset of a hedgehog, who sticks with one strategy through thick and thin, and become an adaptable fox, who learns from experience, embraces new ideas, and makes the most of new trends and technologies. With \u003ci\u003eInvest Like a Fox … Not Like a Hedgehog\u003c\/i\u003e, financial professional Robert Carlson will show you exactly how to do this, and much more.  \u003c\/p\u003e\u003cp\u003eFilled with in-depth insights and expert advice, this detailed guide examines the distinct differences between hedgehogs and foxes; reveals the shortcomings of popular but hedgehog-like investment strategies; and helps you develop fox-like investment strategies that will allow you to achieve long-term success as well as avoid unnecessary losses. Along the way, you’ll also discover how to use the renowned Bayesian Theory of Probability and other guideposts from outside the world of finance to adjust your strategies and react to new information.  \u003c\/p\u003e\u003cp\u003eChallenging the concepts of Modern Portfolio Theory (MPT), Efficient Market Hypothesis (EMH), and the Capital Asset Pricing Model (CAPM) every step of the way, \u003ci\u003eInvest Like a Fox … Not Like a Hedgehog: \u003c\/i\u003e  \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eExplores market volatility and the long-term bull and bear markets that most investment assets are subject to\u003c\/li\u003e \u003cli\u003eExplains how to use your knowledge of the Valuation Cycle and Rational Beliefs Theory to build and manage an investment portfolio\u003c\/li\u003e \u003cli\u003eAddresses mistakes commonly made by both foxes and hedgehogs, and discusses how Behavioral Finance can benefit fox-like investors\u003c\/li\u003e \u003cli\u003eOutlines the trends and tools that will shape portfolios of the future\u003c\/li\u003e \u003cli\u003eAnd much more\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eThere are a number of strategies that can help investors achieve their goals, but the only way they will work is if investors change the way they think about the markets and their portfolios. With this book as your guide, you’ll quickly learn how to think differently about investing and discover how to use that new way of thinking to develop a winning investment strategy.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989472297189,"sku":"NP9780470126332","price":24.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470126332.jpg?v=1761784236","url":"https:\/\/k12savings.com\/es\/products\/invest-like-a-fox-not-like-a-hedgehog-isbn-9780470126332","provider":"K12savings","version":"1.0","type":"link"}