The vast majority of what we have been taught about investing is not effective for long-term individual investors.
Investors generally fall into two categories:
- Level 1, which is unorganized investing driven by impulse and emotion.
- And Level 2, which represents the investing strategy that has evolved from modern portfolio theory.
James B. Cloonan developed a new approach, called Investing at Level3, which can significantly increase the ultimate wealth and retirement income of investors using reality-based rather than theoretical models.
Don't miss out on this investment REVOLUTION.
Cloonan founded the American Association of Individual Investors (AAII) because he firmly believe that individual investors can outperform most professional managers. In a continuation of AAII's educational mission, he wrote this book to explain why a change in investment practices is needed and show investors how they can best capitalize on their unique place in the market.
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INVESTING AT LEVEL3:
The Book That Can Change Everything
TABLE of CONTENTS
Part 1
AAII's founder James Cloonan distills a lifetime of research, insight and history to show why individuals are better off using a new and straightforward approach that is tailor-made for today's longer-term investor.
- How you can beat the best money managers even with a passive approach
- Why conventional investment approaches rob most investors of half their potential retirement wealth
- The real nature of investment risk and how it can be used to your advantage
- Why time diversification and stock diversification are your friends
- How to implement your own personal Level3 approach
(including actionable solutions for stock investors and fund investors)
Chapter 1: Problems With Modern Portfolio Theory
The current approach to risk and return relies on measurements of risk that are inappropriate for the individual investor, and models based on MPT do not reflect real-world phenomenon.
Chapter 2: The Limits of Fundamental and Technical Analysis
The established approaches to stock selection and portfolio management are largely ineffective as currently practiced. A look at why fundamental and technical analysis fail the individual investor.
Chapter 3: The Financial Services Industry: Friend or Foe?
The guidance the individual investor receives from the financial services industry is mostly wrong or inappropriate for the long-term investor. What you need to be aware of when paying for investing advice.
Part 2
Chapter 4: The Nature of Real Investment Risk
Volatility and real risk are not the same. Perhaps the single most significant aspect of the Level3 Investing approach is redefining risk for long-term investors.
Chapter 5: Real Risk in the Withdrawal Stage
During the withdrawal stage in retirement, the risk of a severe bear market must be addressed. Refining the Level3 strategies to control short-term risk when making regular withdrawals.
Chapter 6: Obtaining Higher-Than-Market Returns
Higher returns are the single most effective weapon in reducing real risk. These Level3 passive and active approaches to building equity portfolios can attain higher returns than the average market index return with a more efficient approach to diversification.
Chapter 7: Implementing and Controlling Long-Term Investment Strategies
Success with Level3 Investing depends on having a well-defined strategy and sticking to it even through extremely volatile markets. Includes barriers that can challenge investor efforts to do this, and suggestions on how to avoid the multitude of pitfalls.
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Don't miss out on the opportunity to enhance your investment approach!