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The Art of Contrarian Trading: How to Profit from Crowd Behavior in the Financial Markets (Wiley Trading) | 
 enlarge | Author: Carl Futia
Publisher: Wiley
Category: Book
List Price: $60.00
Buy New: $30.95
You Save: $29.05 (48%)
(as of 7/30/10 09:33 PDT - Details)
New (26) Used (9) from $30.95
Rating:  12 reviews
Sales Rank: 224059
Media: Hardcover
Pages: 226
Number Of Items: 1
Shipping Weight (lbs): 0.9
Dimensions (in): 9.1 x 6.3 x 1
ISBN: 0470325070
Dewey Decimal Number: 332.6
EAN: 9780470325070
ASIN: 0470325070
Publication Date: July 7, 2009
Availability: Usually ships in 1-2 business days
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Product Description
Why is it so hard to beat the market? How can you avoid getting caught in bubbles and crashes? You will find the answers in Carl Futia’s new book, The Art of Contrarian Trading. This book will teach you Futia’s novel method of contrarian trading from the ground up. In 16 chapters filled with facts and many historical examples Futia explains the principles and practice of contrarian trading. Discover the Edge which separates winning speculators from the losers. Find out how to apply the No Free Lunch principle to identify profitable trading methods. Learn about the wisdom and the follies of investment crowds – and how crowds are formed by information cascades that drive stock prices too high or too low relative to fair value. Discover the power of your Media Diary - and how to use it to spot these information cascades, measure the strength of the crowd’s beliefs, and decide when the crowd’s view is about to be proven wrong. You will watch Futia apply these principles of contrarian trading to navigate safely and profitably through the last 26 tumultuous years of roller coaster swings in the U.S. stock market – a time during which Futia kept his own media diary and developed his Grand Strategy of Contrarian Trading. See how this Grand Strategy worked during the Great Bull Market of 1982-2000. Watch the Contrarian Rebalancing technique in practice during the dot.com crash of 2000-2002. Find out when the Aggressive Contrarian Trader bought and sold during the bull market of 2002-2007. Read about the causes of the Panic of 2008 and ups and downs of contrarian trading during that dangerous time. Futia shows you how the market turning points during the 1982-2008 period were foreshadowed by magazine covers and newspaper headlines that astonishingly and consistently encouraged investors to do the wrong thing at the wrong time. By monitoring crowd beliefs revealed by news media headlines – and with the guidance provided by the many historical examples Futia provides – a trader or investor will be well-equipped to anticipate and profit from market turning points.
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| Customer Reviews:
Showing reviews 1-5 of 12
 A Grateful Reader November 12, 2009
Trading Truth Seeker (Wesley Chapel, FL)
16 out of 20 found this review helpful
Back in 1990 I read an article in the July/Aug issue of the Commodity Traders Consumer Report(CTCR)that forever turned my trading mindset around. Carl Futia wrote the article. And no, I don't personally know Mr. Futia, and I have no interests financial or otherwise in his world. But in my 25 years of trading, I can honestly say that this article helped to shape my trading mindset forever. To make a long story short, I'll quote and explain to you the two concepts from that 1990 article that engendered the changes in my trading mind.
Concept #1: Quote: "I had seen clearly that if I relied on oscillators and trend-following techniques, I was always getting into the trend too late. It struck me that I should try to "Anticipate" the beginning of trends rather than waiting to enter in the middle after they had started".
Concept #2: This concept was the idea of "Free Exposure" which Mr. Futia was taught from a seminar by the legendary trader Peter J. Steidlmayer. In essence Free Exposure meant; To enter the market where the risk is the least and the reward is the greatest, one must find, and be able to read where "Value" lies in the market. All entries made at "Value" are essentially tantamount to a "Free" ride in the market, with very little risk "Exposure".
These two concepts started me on my mental journey into what I now call "Anticipating Value" in the market. In any case, back then, after doing months of research and extensive reading on these two concepts my trading was completely turned around for the better. Today, both concepts have melded in one technique, and now form the foundational element of my trading strategy and methodology. Further, since reading this new book, I can see that most of his ideas have since matured into a cohesive philosophy, worthy of anyone's personal library. And by the way, my personal library once numbered over 800 books, so I believe I know a good one when I see it.
Thankfully, I too arrived at some of those same conclusions in his book a long time ago. This is because they were the natural and logical progression from his initial concepts in the 90's. Do yourself a favor and at least read this book, even though you may not agree with it now. Some time in the future, after you have been "sorely tested" in the market for a while, you may be truly thankful that you did. It might just spark a new way of looking at the market for you.
Powerful October 17, 2009
Joe Marks (NJ)
5 out of 7 found this review helpful
There is a wealth of insight in this book for investorts, traders, and speculators alike...I highly recomend it! After establishing what contrary approach to the markets is all about - he goes into his primary tool - the media journal - and outlines two systems: conservitive and aggressive...Only complaints I have is the the rules of each system could have been better tabulated and the aggressive system does have some shortfalls (but all systems have pros and cons)...I recomend using these as part of your own integrated trading sytem that includes fundimntals, technicals, as well as sentiment.
The truth about trading and investing June 22, 2009
Carl Futia
18 out of 28 found this review helpful
I am the author of "The Art of Contarian Trading. I just want to give you a little background on me and explain why I wrote this book. I'd also like you to check out my Amazon "author's page" where you will find some posts and a link to my blog "The Art of Contrarian Trading".
My story starts nearly 50 years ago. On the way home from school on a spring day in 1961 I stopped at our local 5&10 cent store. I noticed a red covered paperback whose title told me that for 50 cents I could learn how a dancer, Nicolas Darvas, had made 2 million dollars in the stock market (probably equivalent to 20-30 million in today's economy). This little book started me on a road I have traveled for nearly 50 years now.
I started charting the stock market in 1965 and have been trading stocks and commodities since 1970. In the beginning I thought that technical analysis was the key to profits in the markets. I was wrong. Lots of people used technical analysis - but very few seemed to profit very much from their efforts.
I set out to learn what separated the winners from the losers in the game of speculation and investment. My 2009 book "The Art of Contarian Trading" tells the story of my discoveries. In it I tell you the truth about trading and investing, and what separates the winners from the losers in the game of speculation.
I wrote this book in the hope that it will help other investors and traders to shorten their paths to success. You should know that I think good traders and investors are born, not made. But I also believe that if you enjoy playing competitive games, especially those like poker that involve calculating odds and "reading" the other players at the table, you may have the "right stuff" to be a good trader or investor.
You can find out if you have the "right stuff" by reading the first five chapters of my book. If you do, the next 11 chapters will tell you how you can learn to read the big players at the investment table - I call them investment crowds - and profit from their mistakes by betting the other way.
If you want to succeed in the markets, this is it! July 5, 2010
David
0 out of 1 found this review helpful
I have read many trading books and this is definitely a must have. Not everyone is cut out to be a contrarian trader and for this very reason it gives those who are "the edge" to beat the market. However, it requires hard work and dedication and reading a book will not get you there... but having this book is the first step in the right direction.
best book on "contrarianism" with a valuable DIY content February 6, 2010
B. Remia
1 out of 4 found this review helpful
I like the book from heed to toe, Mr C. Futia blog is a must as well.
One thing though, would require a few synthetizing tables ( e.g. in a kind of algorythmic style, if Moving average of ----up, then do----) to summarize his market events/opportunities strategies !!!
Would probably buy his next book (this is an invitation to write)
Showing reviews 1-5 of 12
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