Martin Raab – författare

Delve into ETFs for smarter investing and a weatherproof portfolio Beyond Smart Beta is the investor's complete guide to index investing, with deep analysis, expert clarification and smart strategies for active portfolio management. From the general to the obscure, this book digs into every aspect of Exchange Traded Funds (ETFs) including ETCs and ETNs to break down the jargon and provide accessible guidance on utilising the indices as part of a more productive investment strategy. Succinct explanations of terms and concepts help you better grasp ETP anatomy, mechanics and practices, while examples, charts and graphs provide quick visual reference for total understanding. The expert author team examines the risks and benefits associated with various indexing approaches, sharing critical review of next-generation methods to help you make well-informed investment decisions. ETFs provide a solid foundation within mature and well-researched markets, allowing investors to focus on areas where active management has the potential to reap higher returns. This book shows you how to take full advantage of the growth of this market to strengthen your portfolio for the long term. Assess the current landscape and the anatomy of ETFs/ETPsUnderstand ETP handling, costs, trading, and investmentEvaluate the pros and cons of next-generation indexing approachesAvoid risk while incorporating indices into an active portfolio management strategyIndex concepts have evolved from basic, passive investments through Smart Beta, and are evolving into a third generation of products that will quickly become an important element of investor portfolios. Key benefits have propelled ETFs to surpass hedge funds in global capital, and the growth shows no sign of slowing. Beyond Smart Beta provides a primer for investors seeking to understand — and take advantage of — these lucrative new products.

Delve into ETFs for smarter investing and a weatherproof portfolio

Beyond Smart Beta is the investor''s complete guide to index investing, with deep analysis, expert clarification and smart strategies for active portfolio management. From the general to the obscure, this book digs into every aspect of Exchange Traded Funds (ETFs) including ETCs and ETNs to break down the jargon and provide accessible guidance on utilising the indices as part of a more productive investment strategy. Succinct explanations of terms and concepts help you better grasp ETP anatomy, mechanics and practices, while examples, charts and graphs provide quick visual reference for total understanding. The expert author team examines the risks and benefits associated with various indexing approaches, sharing critical review of next-generation methods to help you make well-informed investment decisions.

ETFs provide a solid foundation within mature and well-researched markets, allowing investors to focus on areas where active management has the potential to reap higher returns. This book shows you how to take full advantage of the growth of this market to strengthen your portfolio for the long term.

Assess the current landscape and the anatomy of ETFs/ETPs Understand ETP handling, costs, trading, and investment Evaluate the pros and cons of next-generation indexing approaches Avoid risk while incorporating indices into an active portfolio management strategy

Index concepts have evolved from basic, passive investments through Smart Beta, and are evolving into a third generation of products that will quickly become an important element of investor portfolios. Key benefits have propelled ETFs to surpass hedge funds in global capital, and the growth shows no sign of slowing. Beyond Smart Beta provides a primer for investors seeking to understand — and take advantage of — these lucrative new products.

Delve into ETFs for smarter investing and a weatherproof portfolio

Beyond Smart Beta is the investor''s complete guide to index investing, with deep analysis, expert clarification and smart strategies for active portfolio management. From the general to the obscure, this book digs into every aspect of Exchange Traded Funds (ETFs) including ETCs and ETNs to break down the jargon and provide accessible guidance on utilising the indices as part of a more productive investment strategy. Succinct explanations of terms and concepts help you better grasp ETP anatomy, mechanics and practices, while examples, charts and graphs provide quick visual reference for total understanding. The expert author team examines the risks and benefits associated with various indexing approaches, sharing critical review of next-generation methods to help you make well-informed investment decisions.

ETFs provide a solid foundation within mature and well-researched markets, allowing investors to focus on areas where active management has the potential to reap higher returns. This book shows you how to take full advantage of the growth of this market to strengthen your portfolio for the long term.

Assess the current landscape and the anatomy of ETFs/ETPs Understand ETP handling, costs, trading, and investment Evaluate the pros and cons of next-generation indexing approaches Avoid risk while incorporating indices into an active portfolio management strategy

Index concepts have evolved from basic, passive investments through Smart Beta, and are evolving into a third generation of products that will quickly become an important element of investor portfolios. Key benefits have propelled ETFs to surpass hedge funds in global capital, and the growth shows no sign of slowing. Beyond Smart Beta provides a primer for investors seeking to understand — and take advantage of — these lucrative new products.

Das derzeitige Steuersystem ermöglicht Anlagestrategien, durch die Steuerzahlungen minimiert werden können. Banken können durch innovative Produkte diese Strategien ermöglichen oder erleichtern und dabei selbst einen Teil des Steuervorteils abschöpfen. Derartige Steuerarbitragestrategien werden in dem vorliegenden Buch systematisch untersucht. Im Rahmen eines State-preference-Ansatzes wird gezeigt, daß es bei dem derzeitigen Einkommensteuersystem wegen der unsystematischen Behandlung von Zins-, Dividendenzahlungen und Wertsteigerungen Arbitragemöglichkeiten geben muß. Der Gesetzgeber kann diese Lücke nur für den Einzelfall aber nicht prinzipiell schließen. Die Banken und Investoren werden dies durch die Konstruktion synthetischer Wertpapiere und komplexer Anlagestrategien nutzen. Die asymmetrische Behandlung der einzelnen Kapitaleinkünfte führt auch zu einer Verzerrung der Unternehmensfinanzierung, die eine Erweiterung des traditionellen Modigliani-Miller-Ansatzes nötig macht.

Das derzeitige Steuersystem ermöglicht Anlagestrategien, durch die Steuerzahlungen minimiert werden können. Banken können durch innovative Produkte diese Strategien ermöglichen oder erleichtern und dabei selbst einen Teil des Steuervorteils abschöpfen. Derartige Steuerarbitragestrategien werden in dem vorliegenden Buch systematisch untersucht. Im Rahmen eines State-preference-Ansatzes wird gezeigt, daß es bei dem derzeitigen Einkommensteuersystem wegen der unsystematischen Behandlung von Zins-, Dividendenzahlungen und Wertsteigerungen Arbitragemöglichkeiten geben muß. Der Gesetzgeber kann diese Lücke nur für den Einzelfall aber nicht prinzipiell schließen. Die Banken und Investoren werden dies durch die Konstruktion synthetischer Wertpapiere und komplexer Anlagestrategien nutzen. Die asymmetrische Behandlung der einzelnen Kapitaleinkünfte führt auch zu einer Verzerrung der Unternehmensfinanzierung, die eine Erweiterung des traditionellen Modigliani-Miller-Ansatzes nötig macht.