- An in–depth look at the global Industrials sector investment universe including conglomerates, machinery producers, electrical equipment manufacturers, defense contractors, railroads, and more
- Tips and tools for security analysis and portfolio management
- A useful guide for investing in any market condition
The Fisher Investments On series is designed to provide individual investors, aspiring investment professionals, and students the tools necessary to understand and analyze investment opportunities primarily for investing in global stocks. Each guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide specifically focuses on Industrials, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment.
Following a top–down approach to investing, Fisher Investments on Industrials can help you make more informed decisions, specifically within the Industrials sector. It 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, covering multiple sub–industries and countries each with their own unique characteristics. Using the framework found here, you can discover how to identify these differences, spot opportunities, and avoid major pitfalls.
Divided into three comprehensive parts Getting Started, Industrials Details, and Thinking Like a Portfolio Manager Fisher Investments on Industrials:
- Discusses Industrials′ main drivers government and corporate spending and explains how to capitalize on a wide array of macro conditions and industry–specific events
- Breaks down Industrials by its three industry groups Capital Goods, Transportation, and Commercial Services & Supplies and walks you through their related industries and sub–industries
- Delves into top–down investment methodology as well as individual security analysis
- Provides a detailed account of global infrastructure markets from ways to participate in the boom to the risks behind investment
- Covers the major components of the global Industrials investment universe from building products and machinery to airfreight and electrical equipment
- Outlines a five–step process to help differentiate firms in this field designed to help you identify ones with the greatest probability of outperforming
Filled with in–depth insights and expert advice, Fisher Investments on Industrials provides a framework for understanding this sector and its industries, to help you make better investment decisions now and in the future. With this book as your guide, you can gain a global perspective of the Industrials sector and discover strategies to help achieve your investing goals.
Part 1: Getting Started in Industrials.
Chapter 1: Industrials Basics.
The Modern Production Process.
Chapter 2: 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.
Chapter 3: Industrials Sector Drivers.
Part 2: Next Steps: Industrials Details.
Chapter 4: Industrials Sector Breakdown.
Global Industry Classification Standard (GICS).
Global Industrials Benchmarks.
Capital Goods Industry Group.
Commercial & Professional Services.
Chapter 5: Staying Current: Tracking Sector Fundamentals.
What to Watch.
Corporate and Government Spending Related Metrics.
Industry Specific Indicators.
Chapter 6: The Infrastructure Market.
A Very Big Market.
Infrastructure Investment Drivers.
Risks to Infrastructure Growth.
Participating in the Infrastructure Boom.
Part 3: Thinking Like a Portfolio Manager.
Chapter 7: The Top Down Method.
Investing Is a Science.
Einstein′s Brain and the Stock Market.
The Top–Down Method.
Managing Against a Industrials Benchmark.
Chapter 8: Security Analysis.
Make Your Selection.
A Five–Step Process.
Important Questions to Ask.
Chapter 9: 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.
About the Authors.
MATT SCHRADER is an Industrials analyst for Fisher Investments. He is also a contributing columnist for MarketMinder.com. Matt is a graduate of the University of California, San Diego. Originally from Marin County, California, he currently resides in San Francisco.
ANDREW S. TEUFEL has been with Fisher Investments since 1995 where he currently serves as a Co–President and the Director of Research. Prior to joining Fisher Investments, he worked at Bear Stearns as a corporate finance analyst in its Global Technology Group. Andrew also instructs at many seminars and educational workshops throughout the United States and United Kingdom, and lectures at the Haas School of Business at UC Berkeley. He is also the Editor in Chief of MarketMinder.com. Andrew is a graduate of UC Berkeley.