Stock Index Futures: A Guide for Traders, Investors, and Analysts by Neil S. Weiner (1984)

Stock Index Futures
A Guide for Traders, Investors, and Analysts
by Neil S. Weiner
Publisher:  John Wiley & Sons
Copyright:  1984

Stock index futures have been touted in the Wall Street Journal as "the last way to become a millionaire" . . . and damned as out-and-out gambling.  But no matter what you call them, in the little over a year since they were introduced on the Kansas City Board of Trade, Stock index futures have become the hottest "money magnet" around.

Stock index futures combine the volatility and high stakes of commodities with the popularity of the stock market.  Rather than buying actual stocks, investors can take a position on whether a particular market index -- suchas the New York Stock Exchange Composite or The Standard & Poor's 500 -- will go up or down.  Traders are highly leveraged -- as a speculator, you can turn a $50,000 profit on an investment of as little as $5,000.  Or lose it all if the market moves against you.

Nobody understands this complex new market better than Neil Weiner:  as a consultant, he wrote the economic justification and trading booklet for the first stock index futures contract on the KCBT, where it all began.  Now he's written the first book on the subject -- a book that's must reading for every investor, large and small, from the institutional portfolio manager to the individual trader.

Stock Index Futures:  A Guide for Traders, Investors and Analysts explains virtually everything you need to know to understand and operate effectively in the stock index futures market:  How the market works and why it behaves the way it does.  Key statistical concepts for analyzing market averages and indexes (presented in a practical yet non-technical way, with very little mathematical or statistical sophistication assumed).  And, most importantly, how to use stock market index futures to improve your investment performance while reducing your risk.

Weiner explores the intricacies of using stock index futures for hedging stocks, options, and portfolios with numerous practical marketplace examples.  He clarifies the differences between futures margins and stock market margins, and furnishes comprehensive statistical data on the first year of trading.  Weiner also tackles some of the major issues and misconceptions that have surrounded stock index futures trading, including the capital information controversy, and traces the contract's tumultuous development, including the various regulatory battles and subsequent exchange litigation.

With trading expected to reach $8 billion a day in the next three years (dollar volume actually exceeded volume on the Big Board twenty-eight times last year), stock index futures are certain to become an increasingly important element in the sophisticated investor's portfolio.  For such investors -- and for students of this fascinating new market --  Neil Weiner's Stock Index Futures offers essential information and guidance.

Condition: Used. Hardcover. Dust cover shows light discoloration, a bit of soiling on cover and edges of the flaps and a bit of edge wear. Pages are tanning and edges are discolored from age.

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