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Lunch » Tags » Books » Reviews » Wave Theory For Alternative Investments: Riding The Wave with Hedge Funds, Commodities, and Venture Capital

Wave Theory For Alternative Investments: Riding The Wave with Hedge Funds, Commodities, and Venture Capital

1 rating: 5.0
A book by Stephen Walker

A Strategy That Helps You Weather Any Economic Storm "Wave Theory for Alternative Investments is not just a guide; it is the holy grail for understanding alternative investments." -- Matt Emmens, Chairman, President, CEO of Vertex and Chairman … see full wiki

Tags: Books, Cafe Libri
Author: Stephen Walker
Publisher: McGraw-Hill
1 review about Wave Theory For Alternative Investments:...

Investments and Venture Capital Made Easy

  • Feb 14, 2011
Rating:
+5
Wave Theory for Alternative Investments
Riding the Wave with Hedge Funds, Commodities and Venture Capital
By: Stephen Todd Walker
McGraw Hill Publishers   2011

Reviewed By: Dr. Joseph S. Maresca


The book discusses the long history of venture capital with numerous
examples and impressive statistical data.  BAIN and a number of other
LBOs did well during tough periods. Diversification is known to lower
risk or the standard deviation.
A number of top billionaires suffered
losses of from 8-10% from 8-29- 08 to 10-01-08.  These were about my
own losses during that infamous period.

The author discusses a wave theory which says that securities move
in waves. Numerous graphs are shown to demonstrate this concept.
The Large - cap growth and core funds did the best from 1989-2010.
Industrial metals were on the top of commodity returns.  My investment
in the Southern Copper Corp grew 67% from August, 08 to date 
with the reinvestment of dividends.

The author lists a number of investment rules.  I concur with this list.  i.e.

o Have patience over the long term.
o Follow the smart money and institutional investors for clues.
o Review the market direction.
o Abandon emotion.
o Trust your instincts.  ( meaning that you should get out if you are uncomfortable)
o Greed is bad.  ( waiting too long to take profits can be disastrous)
o Diversify.
o Performance matters. Look at the 10K filings with the SEC.
o Do your own due diligence research.
o History repeats itself.
o Look before you leap.
o Knowledge= Power
o Buy at the beginning of a market rally.


Examples of top entrepreneurial companies are Zippo Manufacturing,
Kraft Cheese, Eli Lilly and others.  5 important venture capital
deals are listed; namely, Twitter, Avid, Tengion Inc. , Groupon
and Energy Recovery Inc. (ERI)

The book lists important questions every entrepreneur should ask
prior to investing. Some of these questions are as follows:

o Review the competitive advantage.
o Look at the future.
o Examine the track record of the venture.
o Study the company management.
o Review the target market of customers.
o Analyze revenues, expenses, cash flow and earnings.
o Examine the uniqueness of the product or process.


The book contrasts gold with the return on stocks over the past
30 years.  Gold returned 4%; whereas, stocks returned 10.6%.
Some top performing hedge funds are listed. ( over 60% returns)
i.e. Mulvaney Global Markets Fund Ltd., JWH Global Analytics
and Dighton Aggressive SP.

Some of my own top performing investments over the past several years are:

o ITC Holdings up 30%
o Lazard World Dividend and Income Fund up 49%
o Netscout Systems up 96%
o Netgear up 121%
o Petsmart up 90%


Overall, the acquisition of this book would be very helpful in
performing your own due diligence on investments.
Always take a look at company earnings, cash flow, revenues,
expenses, the competitive environment, past performance,
data from the SEC Edgar System and reports of investment
analysts prior to making any significant investment decisions.

The book is priced reasonably for the considerable value of
the information contained.  A wide constituency of readers
could benefit from this book including students of
finance/economics, investors, fund managers, government
policy makers, foreign investors and many others.

Steven Todd Walker has had a distinguished career managing the
portfolios of high-profile companies and investors.  He was named
one of Barron's "Top 1000" advisers in 2009 and 2010.  Now, he is
Managing Director of Investments at Oppenheimer & Co.
He worked for Alex Brown and took Starbucks and Microsoft public.
Read more about The Wave Theory at :   www.stephentoddwalker.com


 
Investments and Venture Capital Made Easy

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