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The Fisher Investments On series is designed to provide individual investors, students, and aspiring investment professionals with 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 is specifically on Financials, 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 Financials can help you make more informed decisions within the Financials sector. It skillfully addresses how to determine optimal times to invest in Financials stocks and which Financials industries have the potential to perform well in various environments. The book is divided into three comprehensive parts--Getting Started, Financials Details, and Thinking Like a Portfolio Manager.
* Explains some of the sector's key macro drivers--like regulation, interest rates, and credit trends
* Shows how to capitalize on a wide array of macro conditions and industry-specific features to help you form an opinion on each of the industries within the sector
* Takes you through the major components of the industries within the global Financials sector and reveals how they operate
* Offers investment strategies to help you determine when and how to overweight specific industries within the sector
* Outlines a five-step process to help differentiate firms in this field--designed to help you identify those with the greatest probability of outperforming
Filled with in-depth insights, Fisher Investments on Financials 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 Financials sector and discover strategies to help achieve your investing goals.
The Fisher Investments On series is designed to provide individual investors, students, and aspiring investment professionals with 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 is specifically on Financials, 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 Financials can help you make more informed decisions within the Financials sector. It skillfully addresses how to determine optimal times to invest in Financials stocks and which Financials industries have the potential to perform well in various environments. The book is divided into three comprehensive parts--Getting Started, Financials Details, and Thinking Like a Portfolio Manager.
* Explains some of the sector's key macro drivers--like regulation, interest rates, and credit trends
* Shows how to capitalize on a wide array of macro conditions and industry-specific features to help you form an opinion on each of the industries within the sector
* Takes you through the major components of the industries within the global Financials sector and reveals how they operate
* Offers investment strategies to help you determine when and how to overweight specific industries within the sector
* Outlines a five-step process to help differentiate firms in this field--designed to help you identify those with the greatest probability of outperforming
Filled with in-depth insights, Fisher Investments on Financials 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 Financials sector and discover strategies to help achieve your investing goals.
JARRED J. KRIZ has been in the financial ser-vices industry since 1997, with experience in the banking, investment banking, brokerage, and asset management fields. He regularly presents to audiences at investing workshops across the country and currently works as a Senior Capital Markets Research Analyst at Fisher Investments with a focus on the Financials sector and macroeconomic strategy.
Foreword ix
Preface xi
Acknowledgments xv
Part I Introduction 1
Chapter 1 Financials Basics 3
Financials 101 4
Financials Sector Breakdown 23
Part II Industry Group Details 31
Chapter 2 Banks 33
Banks 101 34
Types of Banks 45
Banks Industry Group Characteristics 48
Bank Regulation 53
Chapter 3 Diversified Financials 63
Capital Markets 64
Consumer Finance 76
Diversified Financial Services 80
Chapter 4 Insurance Industry Group 83
Characteristics of Insurers 84
How Do Insurance Companies Make Money? 89
How Do Insurance Companies Act? 94
Regulation 98
Chapter 5 Real Estate Industry Group 103
What Is a REIT? 105
REIT Characteristics 108
A Representative Example: Annaly Capital Management 112
Equity REIT Sub-Industries 115
Unique Measurements for REITs 118
Part III Thinking Like a Portfolio Manager 121
Chapter 6 The Top-Down Method 123
Investing Is a Science 123
The Top-Down Method 126
Top-Down Deconstructed 131
Managing Against a Financials Benchmark 139
Chapter 7 Security Analysis 143
Make Your Selection 144
A Five-Step Process 145
Financials Analysis 153
Chapter 8 Financials Investing Strategies 159
Adding Value at the Sector Level 160
Adding Value at the Country or Industry Level 161
Adding Value at the Security Level 162
Appendix A: Reference Material 165
Appendix B: Derivatives 171
Appendix C: Risk-Adjusted Balance Sheet 175
Notes 179
About the Author 185
Index 187
Erscheinungsjahr: | 2012 |
---|---|
Fachbereich: | Betriebswirtschaft |
Genre: | Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: | 224 S. |
ISBN-13: | 9780470527061 |
ISBN-10: | 0470527064 |
Sprache: | Englisch |
Herstellernummer: | 14552706000 |
Einband: | Gebunden |
Autor: |
Fisher Investments
Kriz, Jarred |
Hersteller: |
Wiley
John Wiley & Sons |
Maße: | 235 x 157 x 16 mm |
Von/Mit: | Fisher Investments (u. a.) |
Erscheinungsdatum: | 02.10.2012 |
Gewicht: | 0,475 kg |
JARRED J. KRIZ has been in the financial ser-vices industry since 1997, with experience in the banking, investment banking, brokerage, and asset management fields. He regularly presents to audiences at investing workshops across the country and currently works as a Senior Capital Markets Research Analyst at Fisher Investments with a focus on the Financials sector and macroeconomic strategy.
Foreword ix
Preface xi
Acknowledgments xv
Part I Introduction 1
Chapter 1 Financials Basics 3
Financials 101 4
Financials Sector Breakdown 23
Part II Industry Group Details 31
Chapter 2 Banks 33
Banks 101 34
Types of Banks 45
Banks Industry Group Characteristics 48
Bank Regulation 53
Chapter 3 Diversified Financials 63
Capital Markets 64
Consumer Finance 76
Diversified Financial Services 80
Chapter 4 Insurance Industry Group 83
Characteristics of Insurers 84
How Do Insurance Companies Make Money? 89
How Do Insurance Companies Act? 94
Regulation 98
Chapter 5 Real Estate Industry Group 103
What Is a REIT? 105
REIT Characteristics 108
A Representative Example: Annaly Capital Management 112
Equity REIT Sub-Industries 115
Unique Measurements for REITs 118
Part III Thinking Like a Portfolio Manager 121
Chapter 6 The Top-Down Method 123
Investing Is a Science 123
The Top-Down Method 126
Top-Down Deconstructed 131
Managing Against a Financials Benchmark 139
Chapter 7 Security Analysis 143
Make Your Selection 144
A Five-Step Process 145
Financials Analysis 153
Chapter 8 Financials Investing Strategies 159
Adding Value at the Sector Level 160
Adding Value at the Country or Industry Level 161
Adding Value at the Security Level 162
Appendix A: Reference Material 165
Appendix B: Derivatives 171
Appendix C: Risk-Adjusted Balance Sheet 175
Notes 179
About the Author 185
Index 187
Erscheinungsjahr: | 2012 |
---|---|
Fachbereich: | Betriebswirtschaft |
Genre: | Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: | 224 S. |
ISBN-13: | 9780470527061 |
ISBN-10: | 0470527064 |
Sprache: | Englisch |
Herstellernummer: | 14552706000 |
Einband: | Gebunden |
Autor: |
Fisher Investments
Kriz, Jarred |
Hersteller: |
Wiley
John Wiley & Sons |
Maße: | 235 x 157 x 16 mm |
Von/Mit: | Fisher Investments (u. a.) |
Erscheinungsdatum: | 02.10.2012 |
Gewicht: | 0,475 kg |