Kriz Fisher Investments on Financials

1. Auflage 2012
ISBN: 978-1-118-22037-5
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 224 Seiten, E-Book

Reihe: Fisher Investments Press

The easy-to-use resource for anyone looking to learn more aboutthe financial sector and how to make the most of it
The Fisher Investments On series is designed to provideindividual investors, students, and aspiring investmentprofessionals with the tools necessary to understand and analyzeinvestment opportunities--primarily for investing in globalstocks. Each guide is an easily accessible primer to economicsectors, regions, or other components of the global stock market.While this guide is specifically on Financials, the basicinvestment methodology is applicable for analyzing any globalsector, regardless of the current macroeconomic environment.
Following a top-down approach to investing, FisherInvestments on Financials can help you make more informeddecisions within the Financials sector. It skillfully addresses howto determine optimal times to invest in Financials stocks and whichFinancials industries have the potential to perform well in variousenvironments. The book is divided into three comprehensiveparts--Getting Started, Financials Details, and Thinking Likea Portfolio Manager.
* Explains some of the sector's key macro drivers--likeregulation, interest rates, and credit trends
* Shows how to capitalize on a wide array of macro conditions andindustry-specific features to help you form an opinion on each ofthe industries within the sector
* Takes you through the major components of the industries withinthe global Financials sector and reveals how they operate
* Offers investment strategies to help you determine when and howto overweight specific industries within the sector
* Outlines a five-step process to help differentiate firms inthis field--designed to help you identify those with thegreatest probability of outperforming
Filled with in-depth insights, Fisher Investments onFinancials provides a framework for understanding this sectorand its industries to help you make better investmentdecisions--now and in the future. With this book as yourguide, you can gain a global perspective of the Financials sectorand discover strategies to help achieve your investing goals.

Autoren/Hrsg.

Kriz, Jarred

Inhaltsverzeichnis

Foreword ix
Preface xi
Acknowledgments xv
Part I Introduction 1
Chapter 1 Financials 101 4
Financials Sector Breakdown 23Financials Basics 3
Part II Industry Group Details 31
Chapter 2 Banks 101 34
Types of Banks 45
Banks Industry Group Characteristics 48
Bank Regulation 53Banks 33
Chapter 3 Capital Markets 64
Consumer Finance 76
Diversified Financial Services 80Diversified Financials 63
Chapter 4 Characteristics of Insurers 84
How Do Insurance Companies Make Money? 89
How Do Insurance Companies Act? 94
Regulation 98
Insurance Industry Group 83
Chapter 5 What Is a REIT? 105
REIT Characteristics 108
A Representative Example: Annaly Capital Management 112
Equity REIT Sub-Industries 115
Unique Measurements for REITs 118Real Estate Industry Group 103
Part III Thinking Like a Portfolio Manager 121
Chapter 6 Investing Is a Science 123
The Top-Down Method 126
Top-Down Deconstructed 131
Managing Against a Financials Benchmark 139The Top-Down Method 123
Chapter 7 Make Your Selection 144
A Five-Step Process 145
Financials Analysis 153Security Analysis 143
Chapter 8 Adding Value at the Sector Level 160
Adding Value at the Country or Industry Level 161
Adding Value at the Security Level 162Financials Investing Strategies 159
Appendix A: Reference Material 165
Appendix B: Derivatives 171
Appendix C: Risk-Adjusted Balance Sheet 175
Notes 179
About the Author 185
Index 187

Über Autor(innen)

JARRED J. KRIZ has been in the financial ser-vicesindustry since 1997, with experience in the banking, investmentbanking, brokerage, and asset management fields. He regularlypresents to audiences at investing workshops across the country andcurrently works as a Senior Capital Markets Research Analyst atFisher Investments with a focus on the Financials sector andmacroeconomic strategy.
About Fisher Investments Press
Fisher Investments Press brings the research, analysis, and marketintelligence of Fisher Investments' research team, headed by CEOand New York Times bestselling author Ken Fisher, to all investors.The Press covers a range of investing and market-related topics fora wide audience--from novices to enthusiasts toprofessionals.