Synopses & Reviews
The Fisher Investments On series is designed to provide individual investors, aspiring investment professionals, and students the tools necessary to understand and analyze investment opportunitiesprimarily 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 countrieseach 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 partsGetting Started, Industrials Details, and Thinking Like a Portfolio ManagerFisher Investments on Industrials:
- Discusses Industrials' main driversgovernment and corporate spendingand explains how to capitalize on a wide array of macro conditions and industry-specific events
Breaks down Industrials by its three industry groupsCapital Goods, Transportation, and Commercial Services & Suppliesand 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 marketsfrom ways to participate in the boom to the risks behind investment
Covers the major components of the global Industrials investment universefrom building products and machinery to airfreight and electrical equipment
Outlines a five-step process to help differentiate firms in this fielddesigned 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 decisionsnow 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.
Synopsis
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 analysis
led 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.
For more information visit www.industrials.fisherinvestments.com
Synopsis
The definitive guide to investing in the global Industrial sector
The fourth installment of the Fisher Investments on series is an all-encompassing guide to understanding and analyzing investment opportunities within the global Industrial sector.
Fisher Investments skillfully addresses how to determine optimal times to invest in Industrial stocks, and which industries and sub-industries have the potential to perform well in various environments. The global Industrial 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. Discusses industry fundamentals, drivers, attributes, and potential challenges Profiles each of the Industrial 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 analysis
Filled with in-depth insights and expert advice, Fisher Investments on Industrials provides a framework for understanding this sector, and will 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.
Synopsis
Fishers Investments on IndustrialsForeword by New York Times bestselling author Ken Fisher
The fourth installment of the Fisher Investments On series is an all-encompassing guide to understanding and analyzing investment opportunities within the global Industrials sector.
With this book as your guide, you can quickly become familiar with how the investment universe of the Industrials sector is segmented by industries, their respective macroeconomic drivers, and the challenges facing companies in this sector. Additionally, there are discussions regarding the global infrastructure market—which cover the drivers and risks behind investment, the benefits to the Industrials sector, and ways to participate in this boom—as well as a look at specific security analysis techniques that have proven effective within this arena.
You don't have to be a professional to successfully invest in the Industrials sector—but you do need to be prepared. Fisher Investments on Industrials can get you up to speed in this area and help you make the most of your time in this market.
About Fisher Investments Press
Fisher Investments Press brings the research, analysis, and market intelligence of Fisher Investments' research team, headed by CEO and New York Times bestselling author Ken Fisher, to all investors. The Press covers a range of investing and market-related topics for a wide audience—from novices to enthusiasts to professionals.
About the Author
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.
Table of Contents
Foreword.Preface.
Acknowledgments.
Part 1: Getting Started in Industrials.
Chapter 1: Industrials Basics.
Industrials Basics.
Industrials Characteristics.
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.
Corporate Spending.
Government Spending.
Part 2: Next Steps: Industrials Details.
Chapter 4: Industrials Sector Breakdown.
Global Industry Classification Standard (GICS).
Global Industrials Benchmarks.
Capital Goods Industry Group.
Transportation.
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.
Top-Down Deconstructed.
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.
Notes.
Glossary.
About the Authors.
Index.