carnevalemanfredonia.it
» » New Era Value Investing: A Disciplined Approach to Buying Value and Growth Stocks

eBook New Era Value Investing: A Disciplined Approach to Buying Value and Growth Stocks download

by Nancy Tengler

eBook New Era Value Investing: A Disciplined Approach to Buying Value and Growth Stocks download ISBN: 0471266086
Author: Nancy Tengler
Publisher: Wiley; 1 edition (February 14, 2003)
Language: English
Pages: 240
ePub: 1136 kb
Fb2: 1602 kb
Rating: 4.9
Other formats: rtf lrf lrf txt
Category: Different
Subcategory: Business and Finance

This discipline will allow you to identify undervalued stocks by combining a more traditional value approach with a new methodology that focuses on identifying undervalued high-quality stocks that do not pay dividends.

New Era Value Investing introduces the proven method known as Relative Value Discipline by combining the excitement of developing a new investment discipline with the lessons learned through the application of this new methodology in the real world

New Era Value Investing introduces the proven method known as Relative Value Discipline by combining the excitement of developing a new investment discipline with the lessons learned through the application of this new methodology in the real world. In addition to providing an insider's look at an investment manager's experience in adopting a new investment approach, this book creates a context for understanding the transformation of the . economy, and offers expert insights beyond those of traditional value theory. Скачать (pdf, . 5 Mb) Читать.

New Era Value Investing" is essentially marketing material aimed at convincing trustees for institutional funds to place those funds under Tengler's management. If you are not responsible for investing millions of dollars of other people's money, save your own and look for something better. 8 Mb) Читать. Epub FB2 mobi txt RTF.

continues to help us explore the very nature of loving relationships and leads us toward a new serenity.

Statistics and probability for engineering applications with Microsoft Excel. 94 MB·57,978 Downloads·New! More than ever, American industry- especially the semiconductor industry- is using statistical. continues to help us explore the very nature of loving relationships and leads us toward a new serenity. 33 MB·13,411 Downloads. generators are in the country.

New Era Value Investing book. Goodreads helps you keep track of books you want to read

New Era Value Investing book. A unique guide that combines the best of traditional value theory. Goodreads helps you keep track of books you want to read.

Автор: Nancy Tengler Название: New Era Value Investing: A Disciplined Approach to. .

At the forefront of this movement was author Nancy Tengler who, along with Noel DeDora, developed Relative Value Discipline, an approach-which combines two proven methods for valuing growth stocks: Relative Dividend Yield and Relative-to-Price Sales.

Praise for New Era Value Investing "No other book reveals so much about how a portfolio manager looks at the world. You will see how the transformation in the . economy and stock market in the 1990s caused this seasoned value investor to transform her investing discipline to keep pace with the times, and you will gain invaluable insight into how an investment discipline is crafted to maximize gain and control risk for real, paying clients. This book is a must-read for every serious investor, and anyone who aspires to manage money for others

Personal Name: Tengler, Nancy. Publication, Distribution, et. Hoboken, . On this site it is impossible to download the book, read the book online or get the contents of a book.

Personal Name: Tengler, Nancy. The administration of the site is not responsible for the content of the site. The data of catalog based on open source database. All rights are reserved by their owners.

New Era Value Investing introduces the proven method known as Relative Value Discipline by combining the . Nancy Tengler (San Francisco, CA) is President and Chief Investment Officer of Fremont Investment Advisors.

New Era Value Investing introduces the proven method known as Relative Value Discipline by combining the excitement of developing a new investment discipline with the lessons learned through the application of this new methodology in the real world.

A unique guide that combines the best of traditional value theory with an innovative approach to assessing value in low or non-dividend paying stocks

In the 1990s, America's focus on productivity and innovation led to huge gains in technology, communication, and healthcare stocks, and contributed to the transformation of the U.S. stock market from a value (dividend-paying orientation) to a growth (nondividend-paying) bias. During this time, forward thinking value managers began to develop analytical tools for valuing nondividend paying stocks. These tools allowed them to evaluate and identify the best investments in both traditional and nontraditional value sectors. At the forefront of this movement was author Nancy Tengler who, along with Noel DeDora, developed "Relative Value Discipline," an approach-which combines two proven methods for valuing growth stocks: Relative Dividend Yield and Relative-to-Price Sales. The combination of these approaches allows individuals to invest across the investment universe regardless of dividend policies. New Era Value Investing introduces the proven method known as Relative Value Discipline by combining the excitement of developing a new investment discipline with the lessons learned through the application of this new methodology in the real world. In addition to providing an insider's look at an investment manager's experience in adopting a new investment approach, this book creates a context for understanding the transformation of the U.S. economy, and offers expert insights beyond those of traditional value theory.

Nancy Tengler (San Francisco, CA) is President and Chief Investment Officer of Fremont Investment Advisors. She is coauthor of Relative Dividend Yield: Common Stock Investing for Income and Appreciation (Wiley: 0-471-53652-0). She has appeared on numerous financial radio and television programs, including CNN/fn and is frequently quoted in financial publications such as The Wall Street Journal.

Comments: (7)
Perius
One of the best pieces on fundamental investing ever written. This is more than just a "story" about what an accomplished investor has done throughout her career. It is truly a roadmap for creating a disciplined investment strategy; one that works now, has worked historically, and will continue to work through any market environment.
Breaking away from some of the more traditional and over simplified strategies involving just dividend analysis, this "New Era" approach allows an investor to slightly broaden the "universe" of stocks to capture those with slightly higher growth potential.
This type of strategy is appropriate in every investor's portfolio. For institutional investors, this could be your core strategy. For individuals, this discipline can become your overall governing approach to reviewing stocks.
This book is well written, easy to understand, and is complete with charts to help explain the very detailed points Ms. Tengler makes throughout the book.
Highly recommended to all investors, even to those interested in technical analysis.
Buriwield
I have been in the investment business for 3 decades. Currently, I manage a large portfolio. My educatiuon and training is extensive but nothing compares to experience. However, Ms. Tengler book affords the reader maximum insight into the valuation of companies. Her writing style is easy upon the eyese and her knowledge is second to none. I understand her husband is also an accomplished investor in his own right. I don't know if they collaborated in this book, but the the outcome is definitely powerful reading. It's too bad I did not have this insight when I first enterd the business--it certainly would have enabled me to avoid a number of mishaps.
I would not be surprised to see many college courses include this book in their curriculum.
I stongly recommend this book to any serious student of the market. This is a professional book for amateurs as well as professionals!!
Dranar
An excellent companion to such classics Dodd's Security Analysis and Graham's The Intelligent Investor. Here, value investing is presented in a simple-to-follow format and updated with Tengler's Relative Value Discipline strategy, which is supported through case studies. An interesting and informative read on solid investment ideologies.
Kecq
I studied finance in college and in graduate school I majored in investments. Unfortunately, all the book in the curriculum were dry and uninteresting. Hd this book been available in any of these courses, it would have made my learning process much easier. Kudos to the author for making an amazingly insipid topic an intersting read.
Malalanim
For many years Geraldine Weiss has published a newsletter that identifies stocks trading in the upper range of their historic dividend yields. This method succesfully identifies undervalued stocks.

Tengler took this a step further, comparing stocks' dividend yields to their historic relationship to the yield of the market as a whole. Like Weiss' less sophisticated technique, stocks selected in such manner will, on average, outperform the market. She then goes on to ask and answer the question of how to apply a similar technique to stocks with little or no history of dividend payments. (Hence the "New Era" of the title). The answer is to employ the Relative Price to Sales Ratio.

It is easy enough to obtain price-to-sales ratios for individual stocks, which are routinely published in a number of sources. With a little work, an individual investor can then compare a PSR to the PSR of the market as a whole, obtaining the RPSR. But actual application of this technique requires that you obtain the entire range of RPSRs going back years, i.e. "construct the RPSR charts for each company." (p.48). How is this done? The very next sentence tells the tale, in parentheses: "(This information is generally only available to institutional investors through services such as Compustat)."

Oh.

I feel much as I would had I bought some software through a mass market outlet only to find it runs only on an esoteric operating system used by the Department of Defense.

I won't deny that the ancillary criteria used to winnow the complete universe of low RPSR stocks is of some value (hence the two stars instead of one), but that is like saying you bought a dictionary because you like the way it covers "X", "Y" and "Z".

"New Era Value Investing" is essentially marketing material aimed at convincing trustees for institutional funds to place those funds under Tengler's management. If you are not responsible for investing millions of dollars of other people's money, save your own and look for something better.
Drelajurus
Don't buy this book if you do not have access to historical monthly price-to-sales ratios. The author even admits about half-way through the book that non-institutional investors may not have access to this information. I searched all over the web looking for it and was not able to find it. The closest I could get was Ben Stein and Phil DeMuth's website. And that is a quarterly, not monthly, ratio.

The checklist in the book as helpful, but if you really want to use the author's methods, you must have access to historical monthly price-to-sales ratios.
Grari
Ms. Tengler has accomplished a feat that Graham and Dodd and other widely referenced deans of funadamental analysis have attempted to do for decades--making the art of analysis easily understood and interesting. Ms.Tengler, widely recognized media expert on the markets, has translated this difficult topic into very simple prose that even a lay investor can understand. At the same time, she provides enough additional valuable insight and explanations that market professionals would serve themselves well to read.
There is no question that this book will seve as a standard for the industry. It is highly recommended. The insight and information Ms. Tengler supplies serve as a foundation any market follower needs to become a savvy investor.