Биржевая торговля по трендам. Как заработать, наблюдая тенденции рынка - Майкл Ковел
Шрифт:
Интервал:
Закладка:
Edwin Lefevre. Reminiscences of a Stock Operator. New York: George H. Doran Company, 1923.
114
Dickson G. Watts, Speculation as a Fine Art. Reprint. Fraser Publishing Co., 1997.
115
Alexander M. Ineichen, Absolute Returns. New York, John Wiley and Sons, 2003, 19.
116
Disclosure Document. John W. Henry & Company, Inc., August 22, 2003.
117
BMFR. Barclay Trading Group (First Quarter 2003).
118
International Traders Research Star Ranking System Explanation. See http://managedfutures.com.
119
David Greising, How Managed Funds Managed to Do So Poorly. Business Week, No. 3294 (Nov. 23, 1992), 112.
120
Desmond McRae, Top Traders. Managed Derivatives (May 1996).
121
Trend Following: Performance, Risk and Correlation Characteristics. White Paper, Graham Capital Management.
122
Ben Warwick, The Holy Grail of Managed Futures (cover story). Managed Account Reports (MAR), No. 267 (May, 2001), 1.
123
Definition from the Institutional Advisory Services Group (IASG). See www.iasg.com.
124
Marketing Materials. Dunn Capital Management, Inc.
125
D. Harding, G. Nakou and A. Nejjar, «The Pros and Cons of Drawdown as a Statistical Measure of Risk for Investments». AIMA Journal, April 2003, 16–17.
126
The Value of a Long-Term Perspective. Marketing Document. John W. Henry and Company, Inc. October 1999.
127
Thomas F. Basso, When to Allocate to a CTA? – Buy Them on Sale.
128
Julius A. Staniewicz, Learning to Love Non-Correlation. Investor Support. John W. Henry and Company, Inc.
129
Ginger Szala, Tom Shanks: Former «Turtle» Winning Race the Hard Way. Futures, Vol. 20, No. 2 (Jan. 15, 1991), 78.
130
Carla Cavaletti, Turtles on the Move. Futures Magazine, Vol. 27 (June 1998), 79.
131
Laurie Kaplan, Turning Turtles into Traders. Managed Derivatives (May 1996).
132
Larry Harris, Trading and Exchanges: Market Microstructure for Practioners. New York: Oxford University Press, 2003.
133
Larry Harris, The Winners and Losers of the Zero-Sum Game: The Origins of Trading Profits, Price Efficiency and Market Liquidity. Draft 0.911, May 7, 1993.
134
Larry Harris, The Winners and Losers of the Zero-Sum Game: The Origins of Trading Profits, Price Efficiency and Market Liquidity. Draft 0.911, May 7, 1993.
135
Larry Harris, The Winners and Losers of the Zero-Sum Game: The Origins of Trading Profits, Price Efficiency and Market Liquidity. Draft 0.911, May 7, 1993.
136
Danny Hakim, Huge Losses Move Soros to Revamp Empire. The New York Times. May 1, 2000.
137
Enoch Cheng. «Of Markets and Morality…» Caffi Bagola weblog, August 27, 2002. See http://bagola.blogspot.com/2002_08_25_bagola_archive.html.
138
Written Testimony Submitted for the Record of Lawrence Parks, Executive Director, The Foundation for the Advancement of Monetary Education. Before the Subcommittee on Capital Markets, Securities, and GSE’s; House Committee on Banking and Financial Services, United States House of Representatives. Hearing on Hedge Funds, March 3, 1999.
139
Danny Hakim, Huge Losses Move Soros to Revamp Empire. The New York Times. May 1, 2000.
140
Danny Hakim, Huge Losses Move Soros to Revamp Empire. The New York Times. May 1, 2000.
141
In re Merrill Lynch & Co. Inc. Research Reports Securities Litigation, 02 MDL 1484. Ruling by Federal Judge Milton Pollack dismissing class-action claims brought against Merrill Lynch & Co. and its former analyst Henry Blodgett.
142
Fannie Mae – распространенное название Федеральной национальной ипотечной ассоциации США (Federal National Mortgage Association) – Примеч. перев.
143
Financial Trader, Vol. 1,No. 7 (Sept./Oct. 1994), 26.2.
144
Jason Zweig, Do You Sabotage Yourself? Business 2.0 (May 2001).
145
David Dreman, Contrarian Investment Strategies. New York: Simon & Schuster; 1998.
146
Steven Pearlstein, The New Thinking about Money Is That Your Irrationality Is Predictable. The Washington Post, Jan. 27, 2002, H01.
147
Harris Collingwood, The Sink or Swim Economy. The New York Times, June 8, 2003.
148
Ayn Rand, Atlas Shrugged. New York: Random House, 1957.
149
Futures, Vol. 22, No. 12. (November 1993), 98.
150
Daniel Goleman, Emotional Intelligence. New York: Bantam, 1995.
151
Daniel Goleman, «What Makes a Leader?» Harvard Business Review, 1998.
152
Daniel Goleman, «What Makes a Leader?» Harvard Business Review, 1998.
153
Daniel Goleman, «What Makes a Leader?» Harvard Business Review, 1998.
154
Tom Girard, The Wizards Cast a Spell, Financial Trader, No. 4 (July 1995).
155
Tom Girard, The Wizards Cast a Spell, Financial Trader, No. 4 (July 1995).
156
Jack D. Schwager, The New Market Wizards. New York: Harper Business, 1992, 416.
157
The Trading Tribe at Seykota.com. See www.seykota.com/tribe.
158
Robert Koppel, The Intuitive Trader. New York: John Wiley and Sons, Inc, 1996, 74.
159
David Nusbaum, Mind Games; Trading Behavior. Futures, Vol. 23, No. 6 (June 1994), 60.
160
Michael J. Mauboussin and Kristen Bartholdson, All Systems Go: Emotion and Intuition in Decision-Making. The Consilient Observer, Vol. 3,No. 2 (January 27, 2004).
161
Jack D. Schwager, The New Market Wizards. New York: Harper Business, 1992.
162
PSD – бедный, сообразительный и отчаянно стремящийся разбогатеть (Poor, Smart and Deep Desire to become rich). – Примеч. авт.
163
Alan Greenberg, Memos from the Chairman. New York: Workman Publishing, 1996.
164
Lewis Carroll, Alice’s Adventures in Wonderland. 1865.
165
Gerd Gigerenzer and Peter M. Todd, Simple Heuristics That Make Us Smart. New York: Oxford University Press, 1999, 28.
166
Carla Fried, The Problem with Your Investment Approach. Business 2.0 (November 2003), 146.
167
Seykota.com.
168
See www.2think.org.
169
Gerd Gigerenzer and Peter M. Todd, Simple Heuristics That Make Us Smart. New York: Oxford University Press, 1999, 14.
170
Gerd Gigerenzer and Peter M. Todd, Simple Heuristics That Make Us Smart. New York: Oxford University Press, 1999, 358.
171
Futures, Vol.22, No.12 (November 1993), 98.
172
Gerd Gigerenzer and Peter M. Todd, Simple Heuristics That Make Us Smart. New York: Oxford University Press, 1999, 361.
173
Gerd Gigerenzer, Smart Heuristics. Edge Foundation, Inc., March 31, 2003. See www.edge.org.
174
Presentation before the New York Mercantile Exchange.
175
Market Commentary. John W. Henry and Company.
176
Daniel P. Collins, Building a Stronger Fort (Trader Profile: Yves Balcer and Sanjiv Kumar). Futures, Vol. 21, No. 6 (May 1, 2003), 82.
177
Gerd Gigerenzer, Smart Heuristics. Edge Foundation, Inc., March 31, 2003. See www.edge.org.
178
Clayton M. Christensen, The Innovator’s Dilemma. Boston: Harvard Business School Press, 1997.
179
Michael J. Mauboussin and Kristen Bartholdson, Be the House: Process and Outcome in Investing. The Consilient Observer, Vol. 2,No. 19 (Credit Suisse First Boston, Oct. 7, 2003).
180
J. Edward Russo and Paul J. H. Schoemaker, Winning Decisions. New York: Doubleday, 2002.
181
Thomas Harris, The Silence of the Lambs. New York: St. Martin’s Press, 1988.
182
Definition of physics taken from Webster’s Revised Unabridged Dictionary. Springfield, MA: G.C. Merriam, 1913.
183
Jessica James and Neil Johnson, Physics and Finance. Visions: Briefing Papers for Policy Makers. Institute of Physics and IOP Publishing Ltd., 1999–2000.
184
See www.criticalthinking.org.
185
See www.criticalthinking.org.
186
Manus J. Donahue III, An Introduction to Chaos Theory and Fractal Geometry, 1997. See www.duke.edu/~mjd/chaos/chaosh.html.
187
Gerd Gigerenzer, Smart Heuristics. Edge Foundation, Inc., March 31, 2003. See www.edge.org.
188
Elementary Concepts in Statistics. See http://statsoftinc.com/textbook/stathome.html.
189
Michael J. Mauboussin and Kristen Bartholdson, A Tail of Two Worlds, Fat Tails and Investing. The Consilient Observer, Vol. 1,No. 7 (Credit Suisse First Boston, Apr. 9, 2002).
190
Jerry Parker, The State of the Industry. Managed Account Reports, Inc. (June, 2000).
191
Daniel P. Collins, Chenier: Systematizing What Works (Trader Profile). Futures, Vol. 32, No. 9 (July 1, 2003), 86.
192
Larry Swedroe, Buckingham Asset Management. See http://www.bamstl.com/.
193
Larry Swedroe, Buckingham Asset Management. See http://www.bamstl.com/.
194
Mark Rzepczynski, Ph.D., Return Distribution Properties of JWH Investment Programs, Stock and Bond Indices, and Hedge Funds. John W. Henry and Co., No. V, June 2000.
195
Jim Rogers, Investment Biker. New York: Random House, 1994.
196
Of Pimps, Punters and Equities. The Economist (March 24, 2001).
197
Crossfire. CNN (Dec. 21, 1999).
198
Richard Rudy, Buy and Hold: A Different Perspective. Barclay Managed Futures Research (Fourth quarter 2001).
199
Jerry Parker, The State of the Industry. Managed Account Reports, Inc. (June, 2000).
200
Richard Rudy, Buy and Hold: A Different Perspective. Barclay Managed Futures Research (Fourth quarter 2001).
201
http://www.fool.com/boringport/2000/boringport000501.htm.
202
David Dukcevich. Forbes (May 6, 2002).
203
News Release. Berkshire Hathaway, Inc. May 22, 2002.
204
Washington Post, March 6, 2003, E01.
205
James K. Glassman, Washington Post, Dec. 9, 2001.
206
Усреднение убытков – наращивание капиталовложений путем инвестирования равных сумм через регулярные промежутки времени при несении потерь на финансовом рынке, что позволяет снизить среднюю стоимость каждой приобретенной ценной бумаги. – Примеч. перев.
207
James K. Glassman, Washington Post, Feb, 17, 2002.
208
Jennifer Karchmer, Tiger Management Closes: Julian Robertson Plans to Return Money to Shareholders after Losses in Value Stocks. CNNfn, March 30, 2000: 6:59 p.m. EST.
209
Aaron L. Task, Requiem for a Heavyweight. TheStreet.com.
210
Edward Clendaniel, After the Sizzle Comes the Fizzle. Forbes.com, Mar. 25, 2002.
211
Allan Sloan, Washington Post, Mar. 26, 2002, E01.
212
See http://www.charlotte.com/mld/observer/business/3560508.htm.
213
The Trading Tribe at Seykota.com. See www.seykota.com.
214
See http://www.turtletrader.com/images/merrill.gif to view this direct mail marketing flyer.
215
Jerry Garcia and Robert Hunter, «Casey Jones». Originally appears on The Grateful Dead, Workingman’s Dead, 1970.
216
The Trading Tribe at Seykota.com. See www.seykota.com.
217
Marketing Materials. Dunn Capital Management, Inc.
218
Commencement address given before the graduating class of 1989, University of Georgia, June 17, 1989.
219
Edward O. Thorp, The Mathematics of Gambling. Hollywood CA, 1984.
220
Going Once, Going Twice. Discover (August 2002), 23.
221
Monthly Commentary. Dunn Capital Management, Inc.
222
Monthly Commentary. Dunn Capital Management, Inc.
223
Thomas L. Friedman, The Lexus and The Olive Tree. New York: Farrar, Straus, Giroux, 1999.
224
Gibbons Burke, Managing Your Money. Active Trader (July 2000).
225
Craig Pauley, How to Become a CTA. Based on Chicago Mercantile Exchange Seminars, 1992–1994. June 1994.
226
Ed Seykota and Dave Druz, Determining Optimal Risk. Technical Analysis of Stocks and Commodities Magazine, Vol. 11, No. 3, March 1993. 122–124. See www.traders.com. Used with permission.
227
Gibbons Burke, Gain Without Pain: Money Management in Action. Futures, Vol. 21, No. 14 (December 1992), 36.
228
Tom Basso, How to Become a CTA. Based on Chicago Mercantile Exchange Seminars, 1992–1994. June 1994.
229
Carla Cavaletti, Comeback Kids: Managing Drawdowns According to Commodity Trading Advisors. Futures, Vol. 27, No. 1 (January, 1998), 68.
230
Michael Peltz, John W. Henry’s Bid to Manage the Future. Institutional Investor (August 1996).
231
InterMarket, The Worldwide Futures and Options Report. Chicago: InterMarket Publishing Group, July 1984.
232
The Trading Tribe at Seykota.com. See www.seykota.com.
233
Oliver Conway, Cover story about John W. Henry & Company, Inc. Managed Derivatives (May 1996).
234
Ted Williams, The Science of Hitting. New York: Simon & Schuster, 1986, 7.
235
Desmond McRae, 31 Year Track Record of 18, 1 %. Managed Account Reports: Extracting Inherent Value from Managed Futures (March 2003).
236
Ellyn E. Spragins, Gary Weiss, and Stuart Weiss, Contrarians. Business Week, The Best of 1986 (Dec. 29, 1986), 74.
237
Washington Post, Dec. 9, 2001.
238
Jack D. Schwager, The New Market Wizards. New York: Harper Business, 1992.
239
Jerry Parker, The State of the Industry. Managed Account Reports, Inc. (June, 2000).
240
Bruce Terry, Managed Account Reports (September 2001).
241
Morton Baratz, Do Trend Followers Distort Futures Prices? Managed Account Reports, No. 43, 9.
242
Sharon Schwartzman, Computers Keep Funds in Mint Condition: A Major Money Manager Combines the Scientific Approach with Human Ingenuity, Wall Street Computer Review, Vol. 8,No. 6 (March 1991), 13.
243
Sharon Schwartzman, Computers Keep Funds in Mint Condition: A Major Money Manager Combines the Scientific Approach with Human Ingenuity. Wall Street Computer Review, Vol. 8,No. 6 (March 1991), 13.
244
Barclay Trading Group, Ltd., Barclay Managed Futures Report, Vol. 4,No. 1 (First quarter 1993), 3.
245
Barclay Trading Group, Ltd., Barclay Managed Futures Report, Vol. 4,No. 1 (First quarter 1993), 10.
246
Presentation in Geneva, Switzerland on September 15, 1998.
247
Trading System Review. Futures Industry Association Conference Seminar on November 2, 1994.
248
Tom Basso, How to Become a CTA. Based on Chicago Mercantile Exchange Seminars, 1992–1994. June 1994.
249
Leo Melamed, Escape to the Futures. New York: John Wiley and Sons, 1996.
250
The Trading Tribe at Seykota.com. See www.seykota.com.
251
Alexander M. Ineichen, Absolute Returns. New York: John Wiley and Sons, 2003, 64.
252
Keith Campbell, Campbell & Co., Managed Account Reports.
253
Thomas Scheeweis, Dealing with Myths of Hedge Fund Investment. The Journal of Alternative Investments (Winter 1998).
254
Who’s to Blame Next? Asterias Info-Invest, Editoral. London, Asterias, Ltd.
255
Jerry Parker, The State of the Industry. Managed Account Reports, Inc. (June, 2000).