Beyond Wall Street (C)

ISBN-13: 9780471247371 / Angielski / Twarda / 1998 / 240 str.

Steven L. Mintz; Thomas Willison; Dana Dakin

Opis

Insight and advice on mastering the art of investing-from some of the biggest names in the business

This invaluable volume presents what the experts' experts-Peter Bernstein, Gary Brinson, Foster Friess, John Neff, Barr Rosenberg, Mark Mobius, William Gross, and William Sharpe-have to say about risk, asset allocation, growth investing, index funds, value investing, quantitative analysis, fixed-income securities, and emerging markets.

"Essential reading for both novice and expert investors, the profiles in Beyond Wall Street show how the country's most successful investors make money. Read this and learn what it takes to come out on top."-Jane Bryant Quinn, Newsweek columnist, Author of Making the Most of Your Money

"Beyond Wall Street achieves a laudable balance between human drama and sage advice, and the sages involved are some of the finest investors of our time."-Ed Finn, Editor, Barron's

"This book serves a delicious blend of the techniques and biographies of some of the greatest professional vestors and financial scholars. Anyone serious about long-term investment success will profit from the indispensable insights of these diverse masters."-Roger A. Segal, Investors' Bookshelf (TheStreet.com)

"This book is a wonderful source of knowledge for investors ranging from novice to professional. We can all learn something from today's most accomplished thinkers and practitioners."-Elizabeth J. Mackay, CFA, Chief Investment Strategist, Bear, Stearns & Co. Inc.

Spis treści

Growth: Flying High.

Value: Buying into Weakness.

Quantitative: The Automated Investor.

Index Funds: "If You Can′t Beat ′Em..." Emerging Markets: Braving the Frontier.

Fixed Income: Betting on Bonds.

Asset Allocation: Ninety Percent of the Game.

Risk and Investor Psychology: Worth the Risk.

Notes.

Bibliography.

Index.

O autorze

STEVEN L. MINTZ is the New York Bureau Chief at CFO Magazine, a publication of The Economist Group dedicated to the latest financial thinking and how it is being implemented in today′s world. He is also author of Five Eminent Contrarians.

DANA DAKIN and THOMAS WILLISON are founders of Dakin & Willison, a marketing and communications consulting firm for the financial services industry and a co–producing partner with WNET for the PBS series.

Blurb

Insight and advice on mastering the art of investing—from some of the biggest names in the business.

"If you somehow missed much or all of Beyond Wall Street, the eight–part PBS documentary, this book is for you. Even if you didn′t miss it you might be interested, because the authors have so nicely captured the stories, styles, and wisdom of eight superstar investors." —from the Foreword by Andrew Tobias.

Featuring interviews with eight of the field′s most prominent figures, Beyond Wall Street examines investing from the unique perspectives of those who are doing it right. Based on the popular PBS series, this invaluable volume presents what the experts′ experts have to say about index funds, value investing, quantitative analysis, fixed–income securities, emerging markets, and investor psychology. The luminaries profiled are: Peter Bernstein, Gary Brinson, Foster Friess, William Gross, Mark Mobius, John Neff, Barr Rosenberg, and William Sharpe.

"Essential reading for both novice and expert investors, the profiles in Beyond Wall Street show how the country′s most successful investors make money. Read this and learn what it takes to come out on top." —Jane Bryant Quinn Newsweek columnist author of Making the Most of Your Money.

"Beyond Wall Street achieves a laudable balance between human drama and sage advice, and the sages involved are some of the finest investors of our time." —Ed Finn, Editor, Barron′s.

"This book serves a delicious blend of the techniques and biographies of some of the greatest professional investors and financial scholars. Anyone serious about long–term investment success will profit from the indispensable insights of these diverse masters." —Roger A. Segal, Investors′ Bookshelf, (The Street.com).

"This book is a wonderful source of knowledge for investors ranging from novice to professional. We can all learn something from today′s most accomplished thinkers and practitioners." —Elizabeth J. Mackay, CFA Chief Investment Strategist, Bear Stearns & Co. Inc.

Beyond an investment process that involves charts, formulas, and financial analyses lies an art based on imagination and timeless tenets. Beyond Wall Street showcases the masters of the art of investing: those whose success is built upon vision, brilliance, and the classic principles from which anyone can learn. This unprecedented book, based on the popular PBS series, features a gamut of investment styles and subjects, from global investing to mutual funds, emerging markets to index funds, value investing to quantitative analysis, fixed–income securities to investor psychology.

Beyond Wall Street compares and contrasts the strategies of eight of the world′s leading investors through substantive and compelling tales of what brought them to their successes. Unique, thoughtful, and often irreverent, these prominent figures reveal, to the expert and novice investor alike, how brilliant investing is a feat of creativity, composition, and conviction.

Foster Friess founded the Brandywine Fund in 1985 and has managed it to a stunning 560.4% return on investment and an annual average of 18.3%. When you buy a stock, "forget what you paid for it and when you bought it. We only want to look at where the stock is going. It doesn′t matter where it′s been."

Steward for more than 30 years of the hugely successful Windsor Fund, now retired John Neff scored in value investing by buying downtrodden stocks with confidence that the pendulum will swing back for sound companies that have fallen from grace. Neff′s kind of company bangs pots and pans in the dim, dusty, and foreboding basement. To Neff, that cacophony sounds like great investments calling for attention.

Bringing a messianic fervor to quantitative analysis, Barr Rosenberg′s computer–driven strategies are firmly planted in traditional, fundamental stock analysis. "The idea is to look at companies that are in similar businesses, compare them with one another, and find the ones that are the most attractive."

President of the $13 billion Templeton Emerging Markets Fund, Mark Mobius is deemed the "Indiana Jones" of investing. "By seeing companies firsthand, you gain confidence. If you read only the press you get swamped by negative information."

Winner of the Nobel Prize for economics, William Sharpe has added fresh dimensions to the notions of risk and reward. Sharpe′s strategy of indexing outperforms most professional money managers most of the time. "Pick the right amount of risk and return for your situation, your willingness to bear risk. And then leave it alone. Don′t jump because there′s a headline in the paper."

William Gross is one of the visionaries who helped haul bond trading out of the basement vault. He launched—and still runs—Pacific Investment Management′s bond trading operation, which commands close to one percent of the $11 trillion U.S. bond market. "If the market is strong, our assets could be a half a billion dollars more than when I woke up this morning."

CEO of Brinson Partners, Gary Brinson manages $120 billion for blue chip clients who seek optimal returns across a global gamut of asset classes. Growing ranks of global asset allocators select the safest mix of calories and cholesterol, subject to a client′s required returns and appetite for risk. Such is Brinson′s pioneering role in understanding, articulating, and applying this investment style.

Author and investment advisor Peter Bernstein analyzes financial systems, from the progress of risk measurement to the latest developments in modern portfolio theory and behavioral finance. "Risk is the chance of loss and for most of history it was viewed as that. In the capitalist system, a system unique to America in many ways, risk is also an opportunity. Nothing ventured, nothing gained is as important to keep in mind as the fear that if I don′t manage my affairs, I can get wiped out."

Filled with priceless wisdom and insight, Beyond Wall Street: The Art of Investing reveals the big picture in fine detail.