Fisher Investments on Industrials

by Fisher Investments; Matt Schrader; Andrew Teufel

• ISBN13: 9780470530979
• ISBN10: 0470530979
• Format: eBook
• Copyright: 2009-07-01
• Publisher: Wiley

Summary

The fourth installment of the Fisher Investments On series is a comprehensive guide to understanding and analyzing investment opportunities within the global Industrials sector. Fisher Investments on Industrials can help you quickly become familiar with this highly diversified sector, how the sector is segmented by industries, their respective macroeconomic drivers, and the challenges facing Industrials firms.This reliable guide skillfully addresses how to determine optimal times to invest in Industrials stocks, and which industries and sub-industries have the potential to perform well in various environments. The global Industrials sector is complex, including a variety of sub-industries and countries-each with their own unique characteristics. Using the framework found here, you'll discover how to identify these differences, spot opportunities, and avoid major pitfalls.Fisher Investments on Industrials: Discuses industry fundamentals, drivers, attributes, and potential challenges Profiles each of the Industrials sector's sub-industries, broken down by industry group: Capital Goods, Transportation, and Commercial Services & Supplies Delves into a top-down investment methodology as well as individual security analysisled with in-depth insights and expert advice, Fisher Investments on Industrials provides a framework for understanding this sector and can help you make better investment decisions-now and in the future. With this book as your guide, you can quickly gain a global perspective of investing with regard to Industrials.

Table of Contents

Foreword

Preface

Acknowledgments

Getting Started in Industrials

Industrials Basics

Industrials Basics

Industrials Characteristics

The Modern Production Process

History of Modern Manufacturing

The Advancement of Trade and Investment

The Rise of Asia and Changes in the Manufacturing Landscape

The State of US Manufacturing

Industrials Sector Drivers

Corporate Spending

Government Spending

Next Steps: Industrials Details

Industrials Sector Breakdown

Global Industry Classification Standard (GICS)

Global Industrials Benchmarks

Capital Goods Industry Group

Transportation

Commercial & Professional Services

Staying Current: Tracking Sector Fundamentals

What to Watch

Corporate and Government Spending Related Metrics

Industry Specific Indicators

The Infrastructure Market

A Very Big Market

Infrastructure Investment Drivers

Risks to Infrastructure Growth

Participating in the Infrastructure Boom

Thinking Like a Portfolio Manager

The Top Down Method

Investing Is a Science

Einstein's Brain and the Stock Market

The Top-Down Method

Top-Down Deconstructed

Managing Against a Industrials Benchmark

Security Analysis

Make Your Selection

A Five-Step Process

Important Questions to Ask

Allocating your Capital Good

Strategy #1: Adding Value at the Industry Level

Strategy #2: Adding Value at the Security Level

Strategy #3: Industrials Sector Downturn

How to Implement Your Strategy

Appendix: Industrials Websites and Data Sources

Notes

Glossary

About the Authors

Index

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