Tactical Management in the Secular Bear Market
How Tactical Management and Market Phases Can Help Manage Risk and Make Money in the Secular Bear Market.
by
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Popular funds have lost more than half of their value. Well known managers with stellar performance history spanning decades have been lost in the recent market environment and have watched their managed assets shrink.
The key ingredients of these failures were the following factors:
. A lack of understanding of the big picture
. Poor portfolio management during the recent cyclical bear and bull markets
. A lack of disciplined and adaptive risk management models
. The psychology clash between clients and managers
Most funds have a mandate to be fully invested at all times; managers are limited to diversification, sector rotation, and position sizing. These techniques do not protect the portfolio and only help outperform the market by a few percentage points on the downside. This becomes irrelevant after 30% declines.
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About the Book
Tactical Management in the Secular Bear Market examines the following points:
. The catalysts behind a new secular bull market
. Market forecast.
. Tactical management in the cyclical bear and bull markets
. Global psychology management between clients and management team.
. Tactical risk management in each market phase.
The author has presented a framework for identifying the four market phases that identify the bear market and the two market phases that identify the bull market sufficiently detailed without being overly technical. The market phases were the platform to address the above points to analyze and make recommendations to advisors,fund managers, and professional traders.
The author has included many interviews with fund managers, advisors, and professional traders in order to learn how they manage their risks, psychology, and portfolios in both good and bad markets.
About the Author
As a member of the Investment Committee at the International Capital Management Corporation, Mr. Mjigal provides valuable research, technical analysis, and risk control discipline to the portfolio management process. He earned his B.S. in Engineering Statistics and Applied Economics from the National Institute of Statistics and Applied Economics in Rabat, Morocco. He then went on to receive his MBA with an emphasis in Finance and International Business from Oklahoma City University, completing his thesis on Portfolio Risk Management. He is also the regional director of the Global Association of Risk Professionals (GARP) Dallas Chapter.