For many people, participation in the stock market means just one thing--investing in individual stocks.  This is the traditional approach and one that allows investors to have the ultimate control over their investments as they make decisions to buy, hold or sell individual securities.  It also allows investors to control the timing of the taxable events that are an inevitable part of the investment process.

     "This book introduces an exciting new investment method called Principled Asset Rotation or PAR, for short.  It is based on the premises that financial asset leadership rotates over time, that this rotation typically follows the business cycle and that it is generally predictable."
Kirk W. Tofte with Samuel Case in "Be Principled and Grow Rich:  Your Guide to Investing Successfully in Both Bull and Bear Markets"

     "PAR will allow investment decisions to be made on sound principles.  This is a vast improvement over the hype and conflicted advice that has been sold to investors by Wall Street over the years.  These principles will also improve their chances of participating in market gains while avoiding market losses."