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Mission Possible : Achieving Outperformance in a Low-Return World

Mission Possible : Achieving Outperformance in a Low-Return World

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Book DescriptionCan a celebrity fund manager truly beat the market? Can an individual investor fiddling with a blue chip portfolio achieve a stellar rate of return? "Not likely," says veteran analyst Mike Oyster. "Our low-return world calls for cutting-edge solutions." In Mission Possible, financial whiz Oyster demystifies investing in today’s volatile climate. Written for intermediate and advanced investors, this book provides a highly critical review of "active management" investment practices. Showing that active investing provides only an illusion of control, the author tells readers exactly how to outperform the market without ever timing it or picking stocks. According to Oyster, the convergence of new theory, regulation, and technology will inhibit traditional active investors from achieving their goals. Lightning-fast delivery of electronic data gives everyone the same information at the same time. Mission Possible also debunks the myth of the "alpha edge"-that portion of an investment fund’s return generated solely by the portfolio manager’s skill and knowledge. Unlike other books on investing, Mission Possible provides a blueprint for workable approaches-protected leverage, enhanced indexing, covered call writing, portable alpha, and alternative instruments such as hedge funds and derivatives. Highlights Mike Oyster shows readers: •Four fundamental truths of investing that work successfully over time •Behavioral idiosyncrasies that trip upindividual investors and professionals alike •How to choose appropriate risk/return perimeters to meet their objectives •Why passive investing in index funds, though a good idea, yields a gap in total wealth at the end of the investment horizon•A fresh way of thinking for a new era