{"product_id":"fisher-investments-on-telecom-isbn-9780470527078","title":"Fisher Investments on Telecom","description":"\u003cp\u003e\u003ci\u003eThe Fisher Investments On\u003c\/i\u003e series is designed to provide individual investors, students, and aspiring investment professionals the tools necessary to understand and analyze investment opportunities—primarily for investing in global stocks.\u003c\/p\u003e \u003cp\u003eEach guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide is specifically on Telecom, 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 Telecom\u003c\/i\u003e can help you make more informed decisions within the Telecom sector. It skillfully addresses how to determine optimal times to invest in Telecom stocks and which Telecom industries have the potential to perform well in various environments.\u003c\/p\u003e \u003cp\u003eDivided into three comprehensive parts—Getting Started, Telecom Details, and Thinking Like a Portfolio Manager—\u003ci\u003eFisher Investments on Telecom:\u003c\/i\u003e\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExplains some of the sector’s key macro drivers—like interest rates, regulation, and risk aversion\u003c\/li\u003e \u003cli\u003eShows 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\u003c\/li\u003e \u003cli\u003eTakes you through the major components of the industries within the global Telecom sector and reveals how they operate\u003c\/li\u003e \u003cli\u003eOffers investment strategies to help you determine when and how to overweight specific industries within the sector\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, \u003ci\u003eFisher Investments on Telecom\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 Telecom sector and discover strategies to help achieve your investing goals.\u003c\/p\u003e \u003cp\u003eForeword ix\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Getting Started in Telecom 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Telecom Basics 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTelecom 101 4\u003c\/p\u003e \u003cp\u003eA Defensive Sector 5\u003c\/p\u003e \u003cp\u003eInelastic Demand 11\u003c\/p\u003e \u003cp\u003eA Capital Intensive Sector 12\u003c\/p\u003e \u003cp\u003eRegulation 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 A Brief History of the Telecom Industry 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Early Years 19\u003c\/p\u003e \u003cp\u003eRecent History 24\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Telecom Sector Composition 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGlobal Industry Classification Standard (GICS) 31\u003c\/p\u003e \u003cp\u003eGlobal Telecom Benchmarks 32\u003c\/p\u003e \u003cp\u003eIndustry Breakdown 38\u003c\/p\u003e \u003cp\u003eSame, Same, but Different 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Next Steps: Telecom Details 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Telecom Sector Drivers 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEconomic Drivers 46\u003c\/p\u003e \u003cp\u003ePolitical Drivers 51\u003c\/p\u003e \u003cp\u003eSentiment Drivers 56\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Consumer Demand 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEmerging Markets 61\u003c\/p\u003e \u003cp\u003eDeveloped Markets 66\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Challenges and Opportunities 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWireline 72\u003c\/p\u003e \u003cp\u003eWireless 78\u003c\/p\u003e \u003cp\u003eAdvertising \u0026amp; Publishing 82\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Thinking Like a Portfolio Manager 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Top-Down Method 87\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvesting Is a Science 87\u003c\/p\u003e \u003cp\u003eEinstein’s Brain and the Stock Market 89\u003c\/p\u003e \u003cp\u003eThe Top-Down Method 90\u003c\/p\u003e \u003cp\u003eTop-Down Deconstructed 96\u003c\/p\u003e \u003cp\u003eManaging Against a Telecommunications Benchmark 103\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Security Analysis 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMake Your Selection 108\u003c\/p\u003e \u003cp\u003eA Five-Step Process 109\u003c\/p\u003e \u003cp\u003eTelecom Analysis 117\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Telecom Investing Strategies 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategy 1: Adding Value at the Sector Level 124\u003c\/p\u003e \u003cp\u003eStrategy 2: Adding Value at the Country or Industry Level 125\u003c\/p\u003e \u003cp\u003eStrategy 3: Adding Value at the Security Level 126\u003c\/p\u003e \u003cp\u003eAppendix: Additional Resources 129\u003c\/p\u003e \u003cp\u003eNotes 137\u003c\/p\u003e \u003cp\u003eGlossary 141\u003c\/p\u003e \u003cp\u003eAbout the Authors 151\u003c\/p\u003e \u003cp\u003eIndex 153\u003c\/p\u003e \u003cp\u003e\u003cb\u003eDAN SINTON \u003c\/b\u003eis a Research Analyst at Fisher Investments. Prior to joining Fisher, he worked at Franklin Templeton and Charles Schwab and in the nonprofit sector. Dan received a BA in international affairs at the University of Colorado and an MBA from Georgetown University. He currently lives in San Francisco, California.\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 Vice Chairman. 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 has lectured at the Haas School of Business at UC Berkeley. He is also Editor in Chief of MarketMinder.com. Andrew is a graduate of UC Berkeley.  \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Fisher Investments On series\u003c\/i\u003e 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.\u003c\/p\u003e \u003cp\u003eEach guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide specifically focuses on Telecommunication Services (a.k.a. Telecom), 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\u003e Fisher Investments on Telecom\u003c\/i\u003e can help you make more informed decisions within the Telecom sector. It skillfully addresses how to determine optimal times to invest in Telecom, and which Telecom industries have the potential to perform well in various environments. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDivided into three comprehensive parts—Getting Started, Telecom Details, and Thinking Like a Portfolio Manager—\u003ci\u003eFisher Investments on Telecom: \u003c\/i\u003e\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\tExplains some of the sector’s key drivers—like its defensive characteristics, sentiment, and regulation\u003c\/li\u003e \u003cli\u003eShows 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 \u003c\/li\u003e \u003cli\u003e\tTakes you through the major components of the industries within the global Telecom sector and reveals how they operate\u003c\/li\u003e \u003cli\u003eOffers investment strategies to help you determine when and how to overweight specific industries within the sector\u003c\/li\u003e \u003cli\u003e\tOutlines a five-step process to help differentiate Telecom firms—designed to help you identify those with the greatest probability of outperforming.\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eFilled with in-depth insights and expert advice, \u003ci\u003eFisher Investments on Telecom \u003c\/i\u003eprovides a framework for understanding the Telecom 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 Telecom sector and discover strategies to help you achieve your investing goals.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989217820901,"sku":"NP9780470527078","price":52.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470527078.jpg?v=1761783249","url":"https:\/\/k12savings.com\/products\/fisher-investments-on-telecom-isbn-9780470527078","provider":"K12savings","version":"1.0","type":"link"}