Fisher Investments on Materials
The 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.
For more information visit www. materials.fisherinvestments.com
Part I. Getting Started in Materials.
Chapter 1. Materials Basics.
Commodity Pricing Basics.
The Production Process.
Chapter 2. A Brief History of Materials.
The Industrial Revolution.
Structural Shifts in Metals Since the Industrial Revolution.
Industrialization of the Emerging Markets.
Chapter 3. Materials Sector Drivers.
Drivers at Work.
Case Study: Copper.
Part II. Next Steps: Materials Details.
Chapter 4. Materials Sector Breakdown.
Global Industry Classification Standard (GICS).
Global Materials Benchmarks.
Metals & Mining Industry.
Paper & Forest Products.
Containers & Packaging.
Chapter 5. Staying Current: Tracking Sector Fundamentals.
What to Watch.
Chapter 6. Case Study: The 2003 to 2007 Bull Market in Materials.
The Growth of Mergers and Acquisitions.
Part III. Thinking Like a Portfolio Manager.
Chapter 7. The Top-Down Method.
Investing Is a Science.
The Top-Down Method.
Managing Against a Materials Benchmark.
Chapter 8. Security Analysis.
Make Your Selection.
A Five-Step Process.
Important Questions to Ask.
Chapter 9. Materialize Your Portfolio: Investing Strategies.
Strategy 1: Adding Value at the Industry and Sub-industry Level.
Strategy 2: Adding Value at the Security Level.
Strategy 3: Adding Value in a Materials Sector Downturn.
Strategy 4: Investing In Commodities.
Appendix A: Materials Sector Resources.
Appendix B: Top 10 Materials Firms by Industry.
About the Authors.
Andrew S. Teufel (San Francisco, California) has been a member of Fisher Investments research staff since 1995 and is currently Co-President and Director of Research. Prior to joining the firm, he worked at Bear Stearns as a corporate finance analyst. He is a graduate of the University of California at Berkeley, and has lectured at the Haas School of Business on topics in investment management. Andrew has conducted hundreds of investment seminars and educational workshops throughout the US and the UK. He also serves as Editor-in-Chief of MarketMinder.com.
Covers the entire Materials universe—from metals and mining to chemicals, construction materials, and paper
Discusses Materials' main drivers—basic materials prices—and provides eight simple questions to help you form an educated opinion on Materials stocks
Takes you through the fifteen sub-industries within the global Materials sector and reveals how they operate
Addresses issues unique to Materials stocks—from the importance of emerging markets demand to the effects of supply shortages
Delves into top-down investment methodology as well as individual security analysis
Outlines a five-step process to help differentiate firms in this field—designed to help you identify ones with the greatest probability of outperforming