Fisher Investments on Technology
This reliable guide skillfully addresses how to determine optimal times to invest in Technology stocks, and which industries and sub-industries have the potential to perform well in various environments. The global Technology 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.
Fisher Investments on Technology:
- Discusses industry fundamentals, drivers, attributes, and potential challenges
- Addresses the challenges unique to Technology and some common pitfalls to avoid.
- Delves into top-down investment methodology as well as individual security analysis.
- Outlines a five-step process to help differentiate Technology firms—designed to help you identify ones that may have greatest probability of outperforming
- Provides investment strategies for a variety of market environments
Filled with in-depth insights and expert advice, Fisher Investments on Technology 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 Technology sector and discover strategies to help achieve your investing goals.
Part I Getting Started in Technology.
Chapter 1 Technology Basics.
More Than Gadgets . . . A Means.
Starting Small: Semiconductors.
Getting Larger: Products and Components.
Making It All Work: Software and Services.
Chapter 2 A Brief History of Modern Technology.
The Snowball Event: History of Semiconductors.
History of Computers.
History of Communications.
History of the Internet.
Chapter 3 Technology Sector Drivers.
Part II Next Steps: Technology Details.
Chapter 4 Technology Sector Breakdown.
Global Industry Classification Standard (GICS).
Global Technology Benchmarks.
Technology Industry Breakdown Software.
Chapter 5 Challenges in the Information Technology Sector.
Product Maturity and Obsolescence.
Fighting Maturity and Obsolescence.
Extreme Fluctuations in Supply and Demand.
Intellectual Property Threats.
Chapter 6 A Deeper Look at Current and Emerging Technologies.
Semiconductor Production Process.
Emerging Manufacturing Technologies.
Part III Thinking Like a Portfolio Manager.
Chapter 7 The Top-Down Method.
Investing Is a Science.
Einstein’s Brain and the Stock Market.
The Top-Down Method.
Managing Against a Technology Benchmark.
Chapter 8 Security Analysis.
Make Your Selection.
A Five-Step Process.
Important Questions to Ask.
Chapter 9 Upgrading Your Portfolio—Investing Strategies.
Strategy 1: Adding Value at the Sector Level.
Strategy 2: Adding Value at the Industry Level.
Strategy 3: Adding Value at the Security Level.
Strategy 4: Adding Value in a Technology Sector Downturn.
Strategy 5: Venture Capital.
About the Author.
Andrew S. Teufel 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. Teufel 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 the Editor in Chief of MarketMinder.com. Teufel is a graduate of UC Berkeley.