In Investing from the Top Down , Anthony Crescenzi, esteemed financial author and chief bond strategist for Miller Tabak & Co., explains how to develop new, highly effective investment strategies by taking a macro view of the factors shaping industries and markets. Emphasizing the importance of economic and market cycles (as opposed to a bottom-up approach, which places valuation ahead of the big picture) top-down investing is better suited for today's global economy and will likely become the dominant strategy in the future.
Crescenzi provides more than fifty tools for analyzing domestic and international trends and indicators, such as GDP growth rates, inflation, interest and exchange rates, and energy prices. He then explains how to narrow your search down to region, total sales, price levels, competition, and entry/exit from market to make astute buying and selling decisions. Crescenzi explains why “thematic” investing is the ideal approach for:
*         Taking full advantage of exchange traded funds (ETFs)
*         Using the policies of central banks to steer your investments
*         Designing diversification best suited for the long term
*         Using sector selection to insulate your portfolio from risk
*         Maximizing profits when market sentiment spikes or plummets

在《自上而下的投资》一书中，著名金融作家、米勒塔巴克公司首席债券策略师安东尼·克雷森齐（Anthony Crescenzi）从宏观角度阐述了如何制定新的、高效的投资策略，这些投资策略将影响行业和市场的因素。强调经济和市场周期的重要性（而不是自下而上的方法，这种方法将估值放在大局之前）自上而下的投资更适合当今的全球经济，并将可能成为未来的主导战略。
Crescenzi提供了50多种工具，用于分析国内和国际趋势和指标，如GDP增长率、通货膨胀、利率和汇率以及能源价格。然后，他解释了如何将搜索范围缩小到地区、总销售额、价格水平、竞争和市场进入/退出，从而做出精明的买卖决策。Crescenzi解释了为什么“主题”投资是理想的投资方式：
*充分利用交易所买卖基金
*利用中央银行的政策来引导你的投资
*设计最适合长期发展的多元化
*使用部门选择来隔离投资组合的风险
*当市场情绪高涨或暴跌时实现利润最大化