{"product_id":"fisher-investments-on-materials-isbn-9780470285442","title":"Fisher Investments on Materials","description":"The second installment of the \u003ci\u003eFisher Investments On\u003c\/i\u003e series is a comprehensive guide to the Materials sector. \u003ci\u003eFisher Investments on Materials\u003c\/i\u003e can benefit both new and seasoned investors, covering everything from Materials sector basics to specific industry insights to practical investing tactics, including common pitfalls to avoid.  \u003cp\u003eThe book will begin with a discussion of Fisher Investments’ investing philosophy as it applies to the Materials sector. Then, readers will be lead through a discussion of sector basics , what drives the industries, and develop a framework for individual security analysis. Finally, the book will look at industry fundamentals and discuss what investors can do to protect themselves in a down market.\u003c\/p\u003e \u003cp\u003eFor more information visit www. materials.fisherinvestments.com\u003c\/p\u003e \u003cp\u003eForeword ix\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Getting Started in Materials 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Materials Basics 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaterials 101 4\u003c\/p\u003e \u003cp\u003eCommodity Pricing Basics 9\u003c\/p\u003e \u003cp\u003eThe Production Process 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 A Brief History of Materials 29\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Industrial Revolution 29\u003c\/p\u003e \u003cp\u003eStructural Shifts in Metals Since the Industrial Revolution 33\u003c\/p\u003e \u003cp\u003eIndustrialization of the Emerging Markets 37\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Materials Sector Drivers 41\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKey Drivers 42\u003c\/p\u003e \u003cp\u003eDrivers at Work 46\u003c\/p\u003e \u003cp\u003eCase Study: Copper 51\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Next Steps: Materials Details 63\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Materials Sector Breakdown 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGlobal Industry Classification Standard (GICS) 66\u003c\/p\u003e \u003cp\u003eGlobal Materials Benchmarks 67\u003c\/p\u003e \u003cp\u003eMetals \u0026amp; Mining Industry 74\u003c\/p\u003e \u003cp\u003eChemicals 88\u003c\/p\u003e \u003cp\u003eConstruction Materials 96\u003c\/p\u003e \u003cp\u003ePaper \u0026amp; Forest Products 96\u003c\/p\u003e \u003cp\u003eContainers \u0026amp; Packaging 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Staying Current: Tracking Sector Fundamentals 101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat to Watch 102\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Case Study: The 2003 to 2007\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBull Market in Materials 117\u003c\/p\u003e \u003cp\u003eThe Backdrop 119\u003c\/p\u003e \u003cp\u003eDemand Growth 120\u003c\/p\u003e \u003cp\u003eSupply Constraints 130\u003c\/p\u003e \u003cp\u003eThe Growth of Mergers and Acquisitions 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Thinking Like a Portfolio Manager 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Top-Down Method 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvesting is a Science 141\u003c\/p\u003e \u003cp\u003eThe Top-Down Method 144\u003c\/p\u003e \u003cp\u003eTop-Down Deconstructed 150\u003c\/p\u003e \u003cp\u003eManaging Against a Materials Benchmark 157\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Security Analysis 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMake Your Selection 164\u003c\/p\u003e \u003cp\u003eA Five-Step Process 165\u003c\/p\u003e \u003cp\u003eImportant Questions to Ask 173\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Materialize Your Portfolio: Investing Strategies 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategy 1: Adding Value at the Industry and Sub-industry Level 182\u003c\/p\u003e \u003cp\u003eStrategy 2: Adding Value at the Security Level 189\u003c\/p\u003e \u003cp\u003eStrategy 3: Adding Value in a Materials Sector Downturn 190\u003c\/p\u003e \u003cp\u003eStrategy 4: Investing in Commodities 191\u003c\/p\u003e \u003cp\u003eAppendix A: Materials Sector Resources 195\u003c\/p\u003e \u003cp\u003eAppendix B: Top 10 Materials Firms by Industry 199\u003c\/p\u003e \u003cp\u003eNotes 203\u003c\/p\u003e \u003cp\u003eGlossary 217\u003c\/p\u003e \u003cp\u003eAbout the Authors 223\u003c\/p\u003e \u003cp\u003eIndex 225 \u003c\/p\u003e  \u003cp\u003e\u003cstrong\u003eFisher Investments\u003c\/strong\u003e is a respected investment management company which serves the needs of investors demanding superior performance, low fees and exceptional service.?With over $45 billion under management, its clients include Fortune 500 companies, foundations and endowments, as well as thousands of high net worth investors. Unlike many money management firms who typically have little contact with individual investors, Fisher Investments' Private Client Group was specifically created to allow?the investment management company to deliver institutional-level capabilities to high net worth individuals. \u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eBrad W. Pyles\u003c\/strong\u003e (San Francisco, California) graduated from UCLA with a BA in Business Economics and a Minor in Mathematics. He regularly presents to audiences at investing seminars across the country and currently works as a Research Analyst at Fisher Investments with a focus on Materials and macroeconomic strategy.?Originally from Honolulu, he now lives in San Francisco with his wife. He has been with Fisher Investments since 2001. \u003c\/p\u003e\u003cp\u003e\u003cstrong\u003eAndrew S. Teufel\u003c\/strong\u003e (Woodside, CA) is Co-President and Director of Research at Fisher Investments. He has been with Fisher Investments since 1995 and has been a member of the Investment Policy Committee since 1996. He is responsible for the supervision of the firm's research department. Prior to joining the firm, he worked at Bear, Stearns \u0026amp; Co. Inc. as a Corporate Finance Analyst in its Global Technology Group.    \u003c\/p\u003e\u003cul\u003e \u003cli\u003eAn in-depth look at the global Materials sector investment universe, including gold and other metals, chemicals, paper, cement, and more\u003c\/li\u003e \u003cli\u003eTips and tools for security analysis and portfolio management\u003c\/li\u003e \u003cli\u003eA useful guide for investing in any market condition\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003e\u003cb\u003eFISHER INVESTMENTS\u003csup\u003e™\u003c\/sup\u003e on MATERIALS\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Fisher Investments\u003c\/i\u003e 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 focuses on the Materials sector, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment.  \u003c\/p\u003e\u003cp\u003eFollowing a top-down approach to investing, \u003ci\u003eFisher Investments on Materials\u003c\/i\u003e can help you make more informed decisions within today's dynamic Materials sector. It skillfully addresses how to determine the better times to invest in Materials stocks, and which materials industries and sub-industries have the potential to perform well in various environments. The global Materials sector is complex, covering multiple sub-industries and countries—each with unique characteristics. Using the framework found here, you can discover how to identify these differences, spot opportunities, and avoid major pitfalls.  \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDivided into three comprehensive parts—Getting Started, Materials Details, and Thinking Like a Portfolio Manager—\u003ci\u003eFisher Investments on Materials:\u003c\/i\u003e\u003c\/b\u003e  \u003c\/p\u003e\u003cul\u003e \u003cli\u003eCovers the entire Materials universe—from metals and mining to chemicals, construction materials, and paper\u003c\/li\u003e \u003cli\u003eDiscusses Materials' main drivers—basic materials prices—and provides eight simple questions to help you form an educated opinion on Materials stocks\u003c\/li\u003e \u003cli\u003eTakes you through the fifteen sub-industries within the global Materials sector and reveals how they operate\u003c\/li\u003e \u003cli\u003eAddresses issues unique to Materials stocks—from the importance of emerging markets demand to the effects of supply shortages\u003c\/li\u003e \u003cli\u003eDelves into top-down investment methodology as well as individual security analysis\u003c\/li\u003e \u003cli\u003eOutlines a five-step process to help differentiate firms in this field—designed to help you identify ones with the greatest probability of outperforming\u003c\/li\u003e \u003c\/ul\u003e  \u003cp\u003eFilled with in-depth insights and expert advice, \u003ci\u003eFisher Investments on Materials\u003c\/i\u003e provides a framework for understanding this sector and its industries, to help you make profitable investment decisions—now and in the future. With this book as your guide, you'll gain a global perspective of the Materials sector and discover strategies to help achieve your investing goals.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989217525989,"sku":"NP9780470285442","price":28.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470285442.jpg?v=1761783249","url":"https:\/\/k12savings.com\/es\/products\/fisher-investments-on-materials-isbn-9780470285442","provider":"K12savings","version":"1.0","type":"link"}