{"product_id":"fisher-investments-on-industrials-isbn-9780470452288","title":"Fisher Investments on Industrials","description":"\u003cp\u003eThe fourth installment of the \u003ci\u003eFisher Investments On\u003c\/i\u003e series is a comprehensive guide to understanding and analyzing investment opportunities within the global Industrials sector. \u003ci\u003eFisher Investments on Industrials\u003c\/i\u003e 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.\u003c\/p\u003e \u003cp\u003eThis 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.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eFisher Investments on Industrials:\u003c\/i\u003e\u003c\/p\u003e \u003cul\u003e \u003cli\u003eDiscuses industry fundamentals, drivers, attributes, and potential challenges\u003c\/li\u003e \u003cli\u003eProfiles each of the Industrials sector's sub-industries, broken down by industry group: Capital Goods, Transportation, and Commercial Services \u0026amp; Supplies\u003c\/li\u003e \u003cli\u003eDelves into a top-down investment methodology as well as individual security analysis\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eled with in-depth insights and expert advice, \u003ci\u003eFisher Investments on Industrials\u003c\/i\u003e 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.\u003c\/p\u003e \u003cp\u003eFor more information visit www.industrials.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 Industrials 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Industrials Basics 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIndustrials Basics 4\u003c\/p\u003e \u003cp\u003eIndustrials Characteristics 7\u003c\/p\u003e \u003cp\u003eThe Modern Production Process 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: History of Modern Manufacturing 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Advancement of Trade and Investment 22\u003c\/p\u003e \u003cp\u003eThe Rise of Asia and Changes in the Manufacturing Landscape 29\u003c\/p\u003e \u003cp\u003eThe State of US Manufacturing 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Industrials Sector Drivers 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCorporate Spending 48\u003c\/p\u003e \u003cp\u003eGovernment Spending 59\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II: Next Steps: Industrials Details 65\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Industrials Sector Breakdown 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGlobal Industry Classification Standard (GICS) 67\u003c\/p\u003e \u003cp\u003eGlobal Industrials Benchmarks 69\u003c\/p\u003e \u003cp\u003eCapital Goods Industry Group 75\u003c\/p\u003e \u003cp\u003eTransportation 85\u003c\/p\u003e \u003cp\u003eCommercial \u0026amp; Professional Services 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Staying Current: Tracking Sector Fundamentals 97\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat to Watch 97\u003c\/p\u003e \u003cp\u003eCorporate and Government Spending-Related Metrics 98\u003c\/p\u003e \u003cp\u003eIndustry Specific Indicators 111\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: The Infrastructure Market 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Very Big Market 118\u003c\/p\u003e \u003cp\u003eInfrastructure Investment Drivers 120\u003c\/p\u003e \u003cp\u003eRisks to Infrastructure Growth 123\u003c\/p\u003e \u003cp\u003eParticipating in the Infrastructure Boom 125\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III: Thinking Like a Portfolio Manager 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: The Top-Down Method 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvesting Is a Science 133\u003c\/p\u003e \u003cp\u003eEinstein’s Brain and the Stock Market 134\u003c\/p\u003e \u003cp\u003eThe Top-Down Method 136\u003c\/p\u003e \u003cp\u003eTop-Down Deconstructed 142\u003c\/p\u003e \u003cp\u003eManaging Against an Industrials Benchmark 149\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Security Analysis 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMake Your Selection 156\u003c\/p\u003e \u003cp\u003eA Five-Step Process 157\u003c\/p\u003e \u003cp\u003eImportant Questions to Ask 164\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: Allocating your “Capital Good” 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategy 1: Adding Value at the Industry Level 171\u003c\/p\u003e \u003cp\u003eStrategy 2: Adding Value at the Security Level 179\u003c\/p\u003e \u003cp\u003eStrategy 3: Industrials Sector Downturn 180\u003c\/p\u003e \u003cp\u003eHow to Implement Your Strategy 180\u003c\/p\u003e \u003cp\u003eAppendix: Industrials Websites and Data Sources 183\u003c\/p\u003e \u003cp\u003eNotes 185\u003c\/p\u003e \u003cp\u003eGlossary 194\u003c\/p\u003e \u003cp\u003eAbout the Authors 197\u003c\/p\u003e \u003cp\u003eIndex 198\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eMATT SCHRADER\u003c\/b\u003e 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. \t \u003c\/p\u003e\u003cp\u003e\u003cb\u003eANDREW S. TEUFEL\u003c\/b\u003e 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.    \u003c\/p\u003e\u003cul\u003e \u003cli\u003eAn in-depth look at the global Industrials sector investment universe including conglomerates, machinery producers, electrical equipment manufacturers, defense contractors, railroads, 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 \t \u003cp\u003eThe\u003ci\u003e Fisher Investments On\u003c\/i\u003e 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. \t \u003c\/p\u003e\u003cp\u003eFollowing a top-down approach to investing, \u003ci\u003eFisher Investments on Industrials\u003c\/i\u003e 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. \t \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDivided into three comprehensive parts—Getting Started, Industrials Details, and Thinking Like a Portfolio Manager—\u003ci\u003eFisher Investments on Industrials:\u003c\/i\u003e\u003c\/b\u003e \t \u003c\/p\u003e\u003cul\u003e \u003cli\u003eDiscusses Industrials' main drivers—government and corporate spending—and explains how to capitalize on a wide array of macro conditions and industry-specific events\u003c\/li\u003e \u003cli\u003eBreaks down Industrials by its three industry groups—Capital Goods, Transportation, and Commercial Services \u0026amp; Supplies—and walks you through their related industries and sub-industries\u003c\/li\u003e \u003cli\u003eDelves into top-down investment methodology as well as individual security analysis\u003c\/li\u003e \u003cli\u003eProvides a detailed account of global infrastructure markets—from ways to participate in the boom to the risks behind investment\u003c\/li\u003e \u003cli\u003eCovers the major components of the global Industrials investment universe—from building products and machinery to airfreight and electrical equipment\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 \t \u003cp\u003eFilled with in-depth insights and expert advice, \u003ci\u003eFisher Investments on Industrials\u003c\/i\u003e 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.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989217624293,"sku":"NP9780470452288","price":32.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470452288.jpg?v=1761783248","url":"https:\/\/k12savings.com\/products\/fisher-investments-on-industrials-isbn-9780470452288","provider":"K12savings","version":"1.0","type":"link"}