Through "Fisher Investments on Materials", readers will gain a basic understanding of how the materials sector works, the macroeconomic drivers of metals, chemicals, construction material, paper, and packaging. The investment universe will be segmented by industries and individual securities within each industry. This book will begin with a discussion of Fisher Investment's investing philosophy as it applies to the Materials sector. Then, readers will be lead through a discussion of the basics within the sector, what drives the industries, and then specific analysis of various individual securities. Finally, the book will look at the industry fundamentals and discuss what investors should do to protect themselves in a down market.
Table of Contents
Foreword.Preface.Acknowledgments.Part I. Getting Started in Materials.Chapter 1. Materials Basics.Materials 101.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.Key Drivers.Drivers At Work.Case Study: Copper.Part 2. Next Steps: Materials Details.Chapter 4. Materials Sector Breakdown.Global Industry Classification Standard (GICS).Global Materials Benchmarks.Metals & Mining Industry.Chemicals.Construction Materials.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 Backdrop.Demand Growth.Supply Constraints.The Growth of Mergers and Acquisitions.Part 3. Thinking Like a Portfolio Manager.Chapter 7. The Top Down Method.Investing Is a Science.the Top-Down Method.Top-Down Deconstructed.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 Ten Materials Firms by Industry.Notes.Glossary.About the Authors.Index.
Author Biography
Brad W. Pyles 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. Andrew S. Teufel 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. Teufel is a graduate of the University of California at Berkeley, and has lectured at the Haas School of Business on topics in investment management. He has conducted hundreds of investment seminars and educational workshops throughout the United States and the United Kingdom. Teufel also serves as Editor in Chief of MarketMinder.com.
