Success in a Low-Return World

Michael J. Oyster, CFA, CAIA is an investment strategist, researcher and creator of the Options Income Index. He began his professional investment career in 1994 with options advisory firm Schaeffer's Investment Research. As Schaeffer's senior quantitative analyst, he conducted detailed analysis of options and volatility metrics while managing product offerings including an S&P 500 Index options spread strategy. Upon joining Fund Evaluation Group, LLC (FEG) in 1999, Michael began researching traditional, hedge fund and options-based investment strategies as well as conducting and publishing independent research. As FEG's Chief Investment Strategist, he served as a thought leader and frequent presenter on markets and the economy. His first book, Mission Possible, was published in 2005, and he was twice commissioned by the Chicago Board Options Exchange (Cboe) to conduct research on and provide summary analysis regarding suites of their proprietary options indexes. He serves as a board member on the Freestore Foodbank Foundation and on the Lincoln W. Pavey Educational Foundation.

1. The Future Isn't What it Used to Be.- 2. An Obsolete Fundamental Philosophy.- 3. As a Group, Professional Investors Are the Market.- 4. The Specifics of Market Efficiency.- 5. Fund Manager Fees.- 6. To Err Is To Be Human. To Make a Behavioral Error Is To Be a Human Investor.- 7. How Regulations Impact Investment Managers.- 8. Performance Doesn't Tell the Whole Story.- 9. Intuition.- 10. Focus on Asset Allocation.- 11. Indexing.- 12. Active Share and Private Equity.- 13. Momentum.- 14. Smart Beta.- 15. Risk Management.- 16. Buy-Write.- 17. Put Selling.- 18. The Options Income Index.- 19. Portable Alpha.- 20. Epilogue.