Style Investing Unique Insight Into Equity Management

by Bernstein, Richard

• ISBN13: 9780471035701
• ISBN10: 047103570X
• Edition: 1st
• Format: Hardcover
• Copyright: 1995-05-29
• Publisher: Wiley

Summary

This book helps portfolio managers, pension consultants, and investors understand the factors that affect the performance of equity market segments. Richard Bernstein, the acknowledged leader in market segmentation and style investment research, defines numerous market segments and examines how each is affected by a combination of macroeconomic, microeconomic, and expectational factors. He explains the conditions under which various investment styles will and won't work and analyzes each style strategy according to its historical performance in both economical and expectational contexts. He then goes on to discuss the practical implications of these findings for institutional investors - especially pension plan sponsors - and explains the use of equity derivatives.

Author Biography

Richard Bernstein is the author of Style Investing: Unique Insight Into Equity Management, published by Wiley.

Table of Contents

Understanding and Defining Market Segmentation.

The Economics of Nominal Earnings Growth and Investor Risk Perception.

The Importance of Expectations.

Growth vs.

Value.

High Quality vs.

Low Quality.

High Beta vs.

Low Beta.

Dividend Yield and Equity Duration.

Large vs.

Small Stocks.

Implications for Plan Sponsors.

Equity Derivatives and Style Investing.

Implications for Disciplined and Long-Term Investor.

Index.