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 | | The Exchange-Traded Funds Manual by Gary L. Gastineau ISBN-10: 9780471218944 ISBN-10: 0-471-21894-4 ISBN-13: 9780471218944 ISBN-13: 978-0-471-21894-4 Hardcover 2002-02-01 Wiley Find Lowest Price |
Editorials | ||
Product Description Praise for the exchange-traded funds manual "Exchange-traded funds are the hottest finance innovation of the past decade. Gary Gastineau, who played a critical role in their development, demystifies the working of these instruments, lucidly describes their advantages and disadvantages, and guides investors on their use. This gem of a book will be the ETF bible for years to come." -Burton Malkiel, Chemical Bank Chairman's Professor of Economics, Princeton University "This is the first comprehensive book on exchange-traded funds.The author displays an institutional and practical knowledge of exchange-traded funds that makes this book necessary reading for not only the knowledgeable investor but for the professional researcher seeking to understand these relatively new investment vehicles." -Martin J. Gruber, Nomura Professor of Finance Stern School of Business, New York University "Gary Gastineau is a national treasure. Exchange-traded funds are the wave of the future, and Gary has been instrumental in their development from day one. His knowledge is encyclopedic, and his style and subtle humor make it all accessible to the reader." -Wayne H. Wagner, Chairman, Plexus Group, Inc. "In Gary Gastineau's brilliant work in illuminating the reader on exchange-traded funds, he provides rich insights into the process and methodology of adding value and cites a convergence of market forces that creates a compelling story for the use of ETFs for those who choose to add value." -Stephen C. Winks, Publisher, Senior Consultant "The introduction of exchange-traded funds was one of the success stories of Wall Street in the 1990s. Gary Gastineau was a key contributor to this success, and his book is an important benchmark on both the current status of this important new category and the vast potential of its next-generation products." -Salvatore Sodano, Chairman and Chief Executive Officer American Stock Exchange | ||
Reviews | ||
Not readible It is clear that the author is an expert in this subject, but the book is not very readible, (ex: many of the sentences exceed 6 lines). It took me a very long time to finally finish reading the thing, my favorite was the last chapter when he compared ETFs against conventional mutual funds. Unless you work for a firm that constructs ETFs for a living, (iShares, Vanguard, WisdomTree, etc.) then recommend that you not purchase this book, Jim | ||
Not a manual, but a discussion of ETFs This is not a manual for practitioners, or for ordinary people interested in ETFs. It is a discussion of the authors views of ETFs, and why they are generally superior to other investment vehicles. A bit long. And it's too expensive. Two stars. | ||
A comprehensive guide to ETFs As a consultant to the industry, if you are going to buy one book on ETFs, this is it. Written in a clear and concise manner, this book addresses the needs of institutional investors and professionals alike. | ||
Good practical reference work Gary Gastineau, a managing director at Nuveen Investments and the author of The Options Manual (1988), has written the most detailed account available in print of open-ended exchange-traded funds: how they work, what are their distinctive characteristics, who trades them (largely, specialists, market makers, and hedge funds), who owns them (largely, brokerage firms clearing and carrying the ETF shares for specialists, market makers, or hedge funds), and what are their advantages and disadvantages over other sorts of investment for various investors. This is no gripping page-turner, in the league of Jack Schwager's "Wizards" series. But it doesn't need to be. Mr. Gastineau's manual is directed chiefly at investment advisers and financial planners as a reference volume, and it serves that purpose quite well. Advisers and planners, and of course their clients, face a bewildering variety of issues pertaining to these relatively new vehicles-issues of tax efficiency, risk management, trading costs and spreads, etc. In many offices, this book will be a welcome aid in sorting out all of that. | ||
A brilliant, comprehensive and readable compendium on ETFs Exchange Traded Funds are simply the biggest development for the average retail investor in the past decade. No more need to pay huge fees for opaque mutual funds/unit trusts. Just go to an exchange, buy the fund and hey presto you can track indices and have total price transparency for as long as the exchange is open. I championed ETFs in my book "Capital Market Revolution" and I am delighted to see that ETF pioneer Gary Gastineau has produced a terrific, comprehensive book on every aspect of Exchange Traded Funds. If you have any questions about ETFs, they will be answered by this book... Patrick L Young | ||