{"product_id":"asset-rotation-isbn-9781118779194","title":"Asset Rotation","description":"\u003cb\u003eAn all-weather, tactical approach to asset management utilizing Exchange Traded Funds (ETFs)\u003c\/b\u003e  \u003cp\u003eIn \u003ci\u003eAsset Rotation,\u003c\/i\u003e portfolio management pioneer Matthew P. Erickson demonstrates a time-tested approach to asset management that has worked throughout the history of capital markets, in good times and bad. Providing investors with strong participation in rising markets, but more importantly with a discipline to reduce participation in prolonged declines. Over time this revolutionary approach has yielded superior returns, with significantly reduced levels of risk; providing the engine for true, long-term sustainable growth.\u003c\/p\u003e \u003cp\u003eThe investment world as we know it has changed, and the paradigm has shifted. What has worked in the past may no longer work in the future. No longer may bonds be regarded as a safe haven asset class, as for the first time in generations, investors in fixed income face losses as interest rates rise from historical all-time lows. For those adhering to a conventional Modern Portfolio Theory based investment approach to asset management, what was once regarded as safe and stable, may very well soon become our greatest impediment.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eAsset Rotation\u003c\/i\u003e provides investors with a practical solution for today's real world problems. This tactical approach to asset management provides us with concrete proof that there is indeed a better way.\u003c\/p\u003e \u003cp\u003eWe are standing on the precipice of an \u003ci\u003eInvestment Renaissance\u003c\/i\u003e. What was previously impossible, is now possible. Find out how.\u003c\/p\u003e \u003cul\u003e \u003cli\u003ePresents an easy-to-understand price momentum-based approach to investing\u003c\/li\u003e \u003cli\u003eIllustrates the benefits of asset rotation\u003c\/li\u003e \u003cli\u003eOffers a systematic approach for securing a sound financial future\u003c\/li\u003e \u003cli\u003eProvides further insights as to how to customize your own asset rotation portfolio\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eMatthew Erickson gives investors a hands-on resource for how to navigate an increasingly difficult investment landscape, by providing them with keen insights into the most rapidly growing segment of the investment markets.\u003c\/p\u003e \u003cp\u003e\u003cbr\u003e Acknowledgments xi\u003c\/p\u003e \u003cp\u003ePrologue: David \u0026amp; Goliath xiii\u003c\/p\u003e \u003cp\u003ePreface: We Stand on the Precipice of an Investment Renaissance xv\u003cbr\u003e \u003cbr\u003e \u003cb\u003eChapter 1: taking the 30,000-Foot View 1\u003cbr\u003e \u003c\/b\u003eWhere We Are Today\u003c\/p\u003e \u003cp\u003eThe Individual Investor 1\u003c\/p\u003e \u003cp\u003eOckham’s razor 3\u003c\/p\u003e \u003cp\u003eOur Current economic Landscape 6\u003c\/p\u003e \u003cp\u003eThe Bottom Line 11\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: When the paradigm shifts 13\u003cbr\u003e \u003c\/b\u003eWhy What Worked in the Past May No Longer Work in the Future\u003c\/p\u003e \u003cp\u003eA primer on Modern portfolio theory 15\u003c\/p\u003e \u003cp\u003eThe treasury run 19\u003c\/p\u003e \u003cp\u003eLosing Money in Bonds 29\u003c\/p\u003e \u003cp\u003eThe Bottom Line 32\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: shooting stars 35\u003cbr\u003e \u003c\/b\u003eThe Performance Realities of Mutual Fund Ownership\u003c\/p\u003e \u003cp\u003eThe persistence of Manager performance 38\u003c\/p\u003e \u003cp\u003eThe Bottom Line 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Beyond the Stars 55\u003cbr\u003e \u003c\/b\u003eSuggestions for Investment Selection Criteria\u003c\/p\u003e \u003cp\u003eThe Cost of Investing 58\u003c\/p\u003e \u003cp\u003eIdentifying Risk 64\u003c\/p\u003e \u003cp\u003eAssessing the Investment Environment 73\u003c\/p\u003e \u003cp\u003eThe Bottom Line 76\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: The Landscape Has Changed 79\u003cbr\u003e \u003c\/b\u003eThe Proliferation of the ETF\u003c\/p\u003e \u003cp\u003eThe ETF: What Is It? 80\u003c\/p\u003e \u003cp\u003eA Brief History 83\u003c\/p\u003e \u003cp\u003eThe Use of ETFs in a Portfolio 86\u003c\/p\u003e \u003cp\u003eThe Bottom Line 94\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Challenging Convention 97\u003cbr\u003e \u003c\/b\u003eAn Introduction to Asset Rotation\u003c\/p\u003e \u003cp\u003eA Time-Tested Approach 106\u003c\/p\u003e \u003cp\u003eThe 2000s 108\u003c\/p\u003e \u003cp\u003eThe 1990s 110\u003c\/p\u003e \u003cp\u003eThe 1980s 112\u003c\/p\u003e \u003cp\u003eThe 1970s 113\u003c\/p\u003e \u003cp\u003eThe 1960s 114\u003c\/p\u003e \u003cp\u003eThe 1950s 115\u003c\/p\u003e \u003cp\u003eThe 1940s 117\u003c\/p\u003e \u003cp\u003eThe Great Depression 118\u003c\/p\u003e \u003cp\u003eFrom the Great Depression to Today 119\u003c\/p\u003e \u003cp\u003eThe Bottom Line 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Building a Better Mousetrap 123\u003cbr\u003e \u003c\/b\u003eAdvanced Asset Rotation\u003c\/p\u003e \u003cp\u003eBuilding a Better Mousetrap 124\u003c\/p\u003e \u003cp\u003eThe 1990s 134\u003c\/p\u003e \u003cp\u003eThe 2000s 136\u003c\/p\u003e \u003cp\u003eFrom 2010 to 2012 138\u003c\/p\u003e \u003cp\u003e23 Years: 1999–2012 140\u003c\/p\u003e \u003cp\u003eGoing Toe to Toe with the Best 141\u003c\/p\u003e \u003cp\u003eThe Bottom Line 143\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Choose Your Own Adventure 147\u003cbr\u003e \u003c\/b\u003eBuilding Your Own Asset Rotation Portfolio\u003c\/p\u003e \u003cp\u003eChoose Your Own Adventure 148\u003c\/p\u003e \u003cp\u003eAdditional Factors to Consider: Eligible Risk Assets 149\u003c\/p\u003e \u003cp\u003eAdditional Factors to Consider: Eligible Flight to Safety\/Fixed-Income Assets 159\u003c\/p\u003e \u003cp\u003eAdditional Factors to Consider: Criteria for Investment Selection 163\u003c\/p\u003e \u003cp\u003eCreating a Scoring System 165\u003c\/p\u003e \u003cp\u003eRequired Due Diligence 167\u003c\/p\u003e \u003cp\u003eThe Bottom Line 168\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: The Anatomy of Change 171\u003cbr\u003e \u003c\/b\u003eSetting Appropriate Expectations\u003c\/p\u003e \u003cp\u003eBenchmarking Success 172\u003c\/p\u003e \u003cp\u003eThe Four Seasons 175\u003c\/p\u003e \u003cp\u003eWhen Equity Markets Rise 176\u003c\/p\u003e \u003cp\u003eWhen Equity Markets Fall 177\u003c\/p\u003e \u003cp\u003eWhen Equity Markets Move Sideways 180\u003c\/p\u003e \u003cp\u003eWhen Equity Markets Move Sideways with Volatility 183\u003c\/p\u003e \u003cp\u003eThe Bottom Line 186\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Letting Go of Your Crutch 189\u003cbr\u003e \u003c\/b\u003eIntegrating Asset Rotation into Your Overall Approach Citius, Altius, Fortius 190\u003c\/p\u003e \u003cp\u003eAsset Rotation as a Core Approach 191\u003c\/p\u003e \u003cp\u003eBaby Steps 195\u003c\/p\u003e \u003cp\u003eSupplementing Either Equities or Fixed Income 195\u003c\/p\u003e \u003cp\u003eAdopting a Core\/Satellite Approach 198\u003c\/p\u003e \u003cp\u003eThe Bottom Line 200\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: The Road Ahead 203\u003cbr\u003e \u003c\/b\u003eReal-World Solutions for a Changing Landscape\u003c\/p\u003e \u003cp\u003eThe Bottom Line 205\u003c\/p\u003e \u003cp\u003eAbout the Author 207\u003c\/p\u003e \u003cp\u003eIndex 209\u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e  \u003cp\u003e\u003cb\u003eMATTHEW P. ERICKSON\u003c\/b\u003e is the CEO and Chief Investment Officer for Renaissance Capital Management, LLC, a boutique investment management firm located in Metropolitan Detroit, Michigan. Concurrently, Matt also serves as the CIO for Legacy Planning \u0026amp; Associates, Inc., an affiliated financial planning firm based out of Grand Rapids, MI. Among Matt’s primary functions is the day-to-day oversight and portfolio management of the firms’ proprietary investment portfolios.\u003c\/p\u003e \u003cp\u003eEach of the Renaissance Portfolios are managed in accordance to Matt’s proprietary systematic and tactical methods of asset management, blending together three stylistically different approaches to investment management, including tactical managed ETF portfolios, opportunistic individual stock portfolios, and traditional Modern Portfolio Theory based allocations with a “beta-rotation” overlay. By combining these three unique approaches into one overarching portfolio, investors are provided with a higher degree of diversification. Prior to starting his own asset management firm, Matt was a partner in a successful wealth management advisory practice at UBS Financial Services, overseeing more than $350 million in private client assets. Matt and his wife Jill currently reside in Canton, Michigan with their daughter Mackenzie and son Jacob.\u003c\/p\u003e  \u003cp\u003e“\u003ci\u003eThe virtues of Modern Portfolio Theory are taught at every business school across the country. . .The reality is that the investment world as we know it is changing. Even what has worked in the past may not continue to work in the future\u003c\/i\u003e.”—From the Preface\u003c\/p\u003e \u003cp\u003eThe paradigm has shifted and we now find ourselves standing on the precipice of an \u003ci\u003eInvestment Renaissance.\u003c\/i\u003e Adhering to a conventional “Modern Portfolio Theory”-based approach to asset management was once regarded as a safe and stable risk-adjusted strategy; however, this widely adopted practice may soon become our greatest impediment to achieving long-term success. \u003ci\u003eAsset Rotation\u003c\/i\u003e presents a time-tested approach to investing that leads one to question the virtues of Modern Portfolio Theory. Unlike more traditionally accepted methods, asset rotation has proven to be successful throughout the history of capital markets, in good times and bad. Written by Matthew P. Erickson, CEO and Chief Investment Officer of Renaissance Capital Management, this important resource outlines a timely approach to portfolio management in which limiting losses is paramount—focused on the principles of asset rotation, and not asset allocation.\u003c\/p\u003e \u003cp\u003eAs Erickson explains, more than a decade ago taking an asset rotation based approach would have been nearly impossible. But with the proliferation of the Exchange Traded Fund (ETF) in recent years, what was previously impossible is now possible for any investor. ETFs give investors the opportunity to tactically navigate the investment landscape, with the ability to dramatically alter the construct of their portfolio with only a handful of trades. This evolutionary investment vehicle enables one to implement tactical shifts in their portfolios in an effort to avoid prolonged declines. \u003ci\u003eAsset Rotation\u003c\/i\u003e offers investors at all levels of expertise a method for executing these strategies in order to maximize long-term returns.\u003c\/p\u003e \u003cp\u003eStep by step, \u003ci\u003eAsset Rotation\u003c\/i\u003e details a tactical, price-momentum-based strategy and reveals the keys for how to participate in rising markets, but more importantly, maintain a discipline to reduce participation in prolonged declines. Over time, this revolutionary approach has proven to yield superior returns with significantly reduced levels of risk. Asset rotation, not asset allocation, provides the engine for true, long-term sustainable growth.\u003c\/p\u003e  \u003cp\u003e\u003cb\u003ePRAISE FOR ASSET ROTATION\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e“If you have time to read only one investment book, this should be the one. It will forever change the way you think about investing.”\u003cbr\u003e \u003cb\u003e—Dr. BOB FROEHLICH,\u003c\/b\u003e bestselling author and Retired Vice Chairman of Deutsche Asset Management\u003c\/p\u003e \u003cp\u003e“Matthew Erickson has set a new standard in formulating the optimal portfolio strategy in this post-crisis world. In essence, a guide-post in staying ahead of the curve, maintaining a disciplined 30,000 bird’s-eye view, and blocking out the noise that often gets investors into trouble.”\u003cbr\u003e \u003cb\u003e—DAVID ROSENBERG,\u003c\/b\u003e Chief Economist and Strategist, Gluskin Sheff + Associates\u003c\/p\u003e \u003cp\u003e“Successful investing often comes down to three things—a sound investment strategy, an unemotional, disciplined implementation of that strategy, and the ability to ignore short-term noise that forever distracts investors from their true long-term goals. Matt’s book provides readers with the tools to accomplish all three.”\u003cbr\u003e \u003cb\u003e—JAMES P. O’SHAUGHNESSY,\u003c\/b\u003e author of \u003ci\u003eWhat Works on Wall Street\u003c\/i\u003e and Chairman \u0026amp; CEO, O’Shaughnessy Asset Management LLC\u003c\/p\u003e \u003cp\u003e“Erickson goes against the trend by going with the trend in \u003ci\u003eAsset Rotation\u003c\/i\u003e. A fresh, timely read for all investors, Erickson lays the groundwork by exploring timeless investing principles such as the importance of controlling losses and the value of low-cost investing. Challenging conventional portfolio theory, Erickson shows how investor psychology and the burgeoning ETF market form the ingredients necessary to produce dynamic trading strategies designed to produce higher returns with lower risk.”\u003cbr\u003e \u003cb\u003e—JIM BESAW,\u003c\/b\u003e Chief Investment Officer, GenTrust Wealth Management\u003c\/p\u003e \u003cp\u003e“What distinguishes Matt’s book from most others is how he provides the reader the tools, process, and examples necessary to operate an investment portfolio using tactical strategies. Matt has provided the reader with what any reader craves—explanations and answers to untold truths. This is by far one of the best investment strategy books I have ever read.”\u003cbr\u003e \u003cb\u003e—CHRISTOPHER NEUDECKER, JD, MBA, EdD\u003c\/b\u003e in-progress, Chief Investment Officer and Investment Portfolio Manager\u003c\/p\u003e \u003cp\u003e“Great read! Matthew manages to convey a complicated message into a simple to understand investment theory. From understanding the need and the process to carrying the reader through implementation and execution, this book delivers the necessary tools to establish the investment discipline necessary to be a successful investor.”\u003cbr\u003e \u003cb\u003e—ROBERT ROMAN,\u003c\/b\u003e President, Managing Partner, Legacy Private Client Group\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988769915109,"sku":"NP9781118779194","price":50.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118779194.jpg?v=1761781523","url":"https:\/\/k12savings.com\/products\/asset-rotation-isbn-9781118779194","provider":"K12savings","version":"1.0","type":"link"}