by Mark Whistler
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| List Price: | $89.95 |
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Product Description
An accessible guide to the pairs trading technique
A leading arbitrage expert gives traders real tools for using pairs trading, including customizable Excel worksheets on CD. Mark Whistler (Denver, CO) is the key developer of pairstrader.com as well as a licensed securities trader and broker and leading arbitrage expert.
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Average Customer Review:
0 of 0 people found the following review helpful:
 A waste of money, 2009-10-05
Mark Whistler - a 'licensed securities broker', is the only qualifier for him writing this book. The book is poorly conceived, with numerous typos and bad grammar. There is little to justify the high price of this book. Given the high price of this work, Wiley could at least have employed a decent proof reader. A lot of it is just fill. Pages of pointless web addresses everybody knows about.. (yahoo, etc), rating of economic stats, and needless chapters about technical analysis, and option basics. If you're at the level of wanting to arb trade, you have that stuff down cold. It appears hastily put together with little sequence between the chapters. He even admits he changed course close to the publisher's deadline to include a real live trade (APA/APC), which reads more like a blog. It goes on and on. Do I want to hear about him standing on his desk screaming his head off when a trade got legs and went in his direction? At one point he admits that the pairs trading community focus on ratios, yet he talks about differentials instead. No, I am sure the guy knows how to put on and take off stat arb trades, he just doesn't know how to teach it. An author he isn't. He doesn't offer any kind of structure for the beginning pairs trader to build on. Most of the stuff in the book you can get off the I.net. for free. The one really useful chapter was Chapter 8 'Understanding Correlations' which was written by somebody else,(Steven Price).
There is little to justify this book's high price. It is not a serious work. Don't waste your money.
0 of 1 people found the following review helpful:
 Keep your money in your pocket, 2009-05-03
At first I was thinking that this would be a good book if:
1. You have no business background
2. You have no finance background
3. You have no background in math or statistics
After reading the book I realized that my rating has nothing to do with the content of the book. Its just a plain old bad book.
In grad school we talk about going over things at 10,000ft the idea being that we don't dive too far into details. This book goes over things at 50,000ft. The author attempts to cover so many subject areas that he neglects thoroughly explaining how pairs trading works. Key fundamental concepts that are critical to success in trading pairs are completely absent. There is one chapter that is literally 1 and 2/3rds pages long.
I'm embarrassed for Wiley for even printing this detestable waste of ink. This book is more on the order of the "For Dummies" series of books and even that statement is dubious. The dummies books at least do a respectable job of covering whatever subject that particular book is on. Trading Pairs is a pedagogical tragedy.
Implementing a pair trading strategy can be easy or it can be incredibly complex. You will not learn either method with this book. Do Google research for the background information you need on statistics and finance then buy a better pair trading book but take a pass on Trading Pairs.
0 of 0 people found the following review helpful:
 Don't short without this book....., 2008-07-04
As a professional in the ETF business I highly recommend this book on Trading Pairs. Going-long one equity and selling short is a way to reduce risk in your portfolio and Mr. Whistler details this strategy nicely. He writes with clear and concise explanations of this trading style. A must read for anyone thinking of shorting a stock.
5 of 6 people found the following review helpful:
Find the perfect pairs and you're there...., 2007-09-01
As a trader, I found the book gave a good overview on "Pairs Trading", but many of the examples, including the "Trading Diary" on Chapter 22 provided little inspiration to someone looking to make sizeable profits out of pairs trades. For example in Chapter 22, titled the "Trading Diary", after just 30 business days (41 days) the model trade in the book yielded a return of just 1.04%.
Indeed, the basic premise behind the pairs trade, forgetting all the fancy statistics I found is to simply to look at the chart and see if it's tradeable (i.e has it got a range-bound movement!!!). The secret is to find the charts. To accompany this book you really need some good pairs trading software to find these charts. There's limited providers but I'm going to try http://www.pairstrade.com.
0 of 0 people found the following review helpful:
 Ideal Book for Pairs Trading, 2007-03-16
I strongly suggest to anyone who is interested in the Wall Street strategy known as "Pairs Trading" to read this book. It is extremely well-written and easy to follow. It also provides clear, step-by-step instructions on how to build and implement your own pairs trade. Overall, I could not be happier with my purchase and I recommend this book to all. Thank you.
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