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Buy--DON'T Hold: Investing with ETFs Using Relative Strength to Increase Returns with Less Risk

1 rating: 3.0
A book by Leslie N. Masonson

“Masonson is a master Almanac Investor. In Buy–DON’T Hold, he shows investors and traders how to buy and sell the right ETFs at the right time with proven strategies, technical tools, and indicators.” --Jeffrey A. Hirsch, Editor-in-Chief, … see full wiki

Tags: Books, Investing, Investing Books, Mutual Funds, Exchange Traded Funds, Portfolio Management
Author: Leslie N. Masonson
Genre: Business & Investing
Publisher: FT Press
1 review about Buy--DON'T Hold: Investing with ETFs Using...

a system designed to make you rich!

  • Jul 12, 2010
Mr. Mosonson writes a short, informative and intriguing book about a way to get rich through investing in the stock market. I enjoyed the book, which describes an investing system. After completing the book, it took me about an hour of work to get it up and running. After you understand it, you can update the system in just a couple of minutes per week. I have invested a small amount of money according to this plan, but only time will tell if it really works. Stay tuned!

Mr. Mosonson tells the reader to pay no attention to Wall St. experts, which is slightly problematic, since he is a Wall St. expert himself. He does write a good book. I liked the six step investing plan laid out in chapter three. It is simple, easy to follow and understand. He makes a convincing argument for investing in ETF's (exchange traded funds) instead of mutual funds. The chapter on risk management is boring, however, even though it is vitally important. I just can't summon a lot of enthusiasm for it. On the plus side, it was not as boring as other chapters that I have read on this same subject.

Mosonson argues that it does no good to pick good investments during a bear market. You can lose a large part of your money regardless of your investment selections. He recommends market timing, showing you when to get in and out of the market based upon his custom set of eight indicators, which you can find on several financial websites (well explained in the book). He admits that these indicators, which he calls "the dashboard" are not correct 100% of the time, but he has adjusted them to follow major market trends, and avoid short term fluctuations. Still, you can get "whipsawed" which means acting on buy and sell signals that are false. I can attest that this is a painful and expensive experience. Most of the reading I have done on market timing states that it is impossible: no one can predict what the market will do next, and you can't discern a trend until it is mostly in the past tense. This book makes a strong argument in support of timing.

Once you have determined, via the dashboard, that investing conditions are right, the author directs you towards a group of select ETF's, and explains how to select the best performing ones, using an indicator called relative strength.

Mr. Masonson lays his system out logically and clearly. It doesn't take a wizard to follow the instructions, although the amount of information is overwhelming at first. With a little weekly practice it becomes simple enough. The key question is whether this system will make money in the future. I suspect that most readers will not take the time to implement the plan, or have the discipline to stick with it (I hope that I do). It is written that rich people are those who do what most people are not willing to do. Not because they are better or smarter, just more determined. Most people are too busy to spend a lot of time on an investing system. But getting rich might be a good use of your time.

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