Survival of the Fittest for Investors: Using Darwin's Laws of Evolution to Build a Winning Portfolio (BOK)
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Three proven models investors for tilting the risk/reward balance dramatically in your favor--regardless of investing style Survival of the Fittest for Investors reveals the performance of three model portfolios over a span of 38 years, each of which balanced four major asset classes--equities, debt, gold, and REITS--and shows how to reap consistent profits with lower-than-market risk. Stoken paints an intriguing picture of markets mimicking Darwinian biological laws and proves investors are better able to adapt to changing investment environments by adhering to the rules of evolution and natural selection. Survival of the Fittest for Investors teaches investors how to apply agent-based modeling (ABM), a portfolio management model that treats markets as complex systems whose behavior emerges as a result of interactions of market participants, institutions, and rules. ABM applies elements of the theory of evolutionary programming. Dick Stoken is president of Strategic Capital Management and cofounded the discount commodity brokerage Lind-Waldock.