by Douglas S. Ehrman
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| List Price: | $95.00 |
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Product Description
Learn both the theory and practice of pairs trading, why it is consistently profitable, and how you can apply the strategies in your own trading with this valuable guide. Author Douglas Ehrman covers pairs trading involving stocks, options on stocks, and futures contracts, and explains how this type of trading allows you to profit from the changing price relationship of securities. In addition to a comprehensive discussion of the theories involved, he also includes practical examples that will to help you put what you've learned into practice. Douglas S. Ehrman is a hedge fund manager and a leading authority on pairs trading. He is one of the founders and the Chief Executive Officer of AlphAmerica Asset Management LLC in Chicago. He also served as the chief executive officer of AlphAmerica Financial, Inc., the company that operated PairsTrading.com prior to its merger with PairTrader.com.
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Average Customer Review:
1 of 1 people found the following review helpful:
 AVOID !, 2007-04-02
This book is a rehash of an earlier book offered by the author's now extinct website/subscription-service. It is simplistic, repetitive and wrong. Avoid.
8 of 8 people found the following review helpful:
Poorly written book -- , 2007-03-27
I found the text poorly written: Repetitious; overly general on basic trade methodology; then not enough specifics regarding pairs trading. Math formulas were given without sufficient explanation or application, as if the author was just filling space with them (and the fonts used for the math was amateurish and not up to math text typographic standards -- in some cases even making them difficult to read). I was quite shocked at the overall low quality of the book. John Wiley trade texts are often of uneven quality I'm finding, even though the publishing house is thought to have a good reputation.
5 of 11 people found the following review helpful:
 Confused Reviewers, 2006-08-08
This book was recommended to me by a friend who knew that I was going to use it to trade myself. I liked the idea of pairs trading and needed some help. Unlike one of the earlier reviewers, I found other pairs books either way too technical or just hard to follow. That was not the case with this book. It walks through enough basics to be helpful, but not too much, and then gives a solid approach that I have been able to successfully apply.
I found Ehrman's writing style very easy to follow and clean. It has made a big difference in my trading already. As to the author's fame (as mentioned by an earlier reviewer), he is a practicioner of his method. While PairsTrading.com no longer exists, it merged and is now PairTrader.com. There newsletters are very helpful and have helped to improve my trading as well. Anyway, hope this helps perspective buyers, particularly in light of some of the nay-sayers.
12 of 15 people found the following review helpful:
A Waste of Time and Money, 2006-08-04
The book "The Handbook of Pairs Trading" is innacurate, incomplete, vauge, poorly written, and ultimately fails to define a pairs trading strategy. The first three chapters are a bad summary of fundamental analysis, technical analysis, market-neutral invsting, and arbitrage. The author then presents his "Unified Theory", where he begins, "The pairs trading investment strategy is comprised of three central elements: the market-neutral element, the arbitrage element, and the technical analysis element". He then proceeds with Chapter 9, titled "Reviewing the Elements", which is unbelievably, an even-worse summary of the preceeding 8 chapters. The final section of the book, "Advanced Strategies and Examples", still fails to present a strategy for pairs selection or trading. Instead, it presents more tertiary review of basic finance knowledge, such as "The purchase of call option is the most basic strategy in options trading". This book is full of filler; yet another worthless volume in the long line of so-called finance books published by John Wiley and Sons.
It is amazing to me that that the same company can at the same time publish a book like "Pairs Trading", by Ganapathy Vidyamurthy. I consider Vidyamurthy's book the best published texts on pairs trading. Unlike Erhman's book, Vidyamurthy's started as a PhD thesis. Readers without a quantitative or scientific background will not find Vidyamurthy's book helpful. However, as pairs trading is inherently a quantitative strategy, the book is well suited to the target audience and is an excellent introductory text on the subject.
5 of 10 people found the following review helpful:
Exactly Right, 2006-05-13
When I first saw this book I was sceptical, but bought it anyway. I am so glad I did because it has unlocked for me a way to trade that consistently makes me money. I am a doctor and don't have a background in finance. This book was easy to follow and taught me how to approach the market. Since reading the book, I am finally making profitable trades; I'd be lost without it. Thanks...
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