Fisher Investments on Health Care

ISBN-13: 9780470527054 / Angielski / Twarda / 2011 / 224 str.

Fisher Investments; Austin B. Fraser; Andrew S. Teufel

Opis

The Fisher Investments On series is designed to provide individual investors, students, and aspiring investment professionals the tools necessary to understand and analyze investment opportunities--primarily for investing in global stocks. Each guide is an easily accessible primer to economic sectors, regions, or other components of the global stock market. While this guide is specifically on Health Care, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment. Following a top-down approach to investing, Fisher Investments on Heath Care can help you make more informed decisions within the Health Care sector. It skillfully addresses how to determine optimal times to invest in Health Care stocks and which Health Care industries have the potential to perform well in various environments.

• Explains some of the sector's key macro drivers--like its defensive characteristics, economic cycles, and investor sentiment
• Shows how to capitalize on a wide array of macro conditions and industry-specific features to help you form an opinion on each of the industries within the sector
• Takes you through the major components of the industries within the global Health Care sector and reveals how they operate
• Offers investment strategies to help you determine when and how to overweight specific industries within the sector
• Outlines a five-step process to help differentiate firms in this field--designed to help you identify ones with the greatest probability of outperforming

Filled with in-depth insights, Fisher Investments on Health Care 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 Health Care sector and discover strategies to help achieve your investing goals.

Spis treści

Foreword.

Preface.

Acknowledgments.

Part I Getting Started in Health Care.

Chapter 1 Health Care Basics.

Health Care Basics.

Health Care Characteristics.

Chapter 2 The US Health Care System.

Why Does It Cost So Much?

Private Versus Public.

The Regulatory System.

US Health Care Reform.

Chapter 3 Brief Overview of Health Care Systems by Major Countries.

Japan.

Germany.

France.

United Kingdom.

China.

Chapter 4 Health Care Sector Drivers.

Defensive Nature of Health Care.

Innovation and Patent Expirations.

Political/Regulatory Developments.

Part II Next Steps: Health Care Details.

Chapter 5 Health Care Sector Breakdown.

Global Industry Classification Standard.

Global Health Care Benchmarks.

Pharmaceuticals, Biotechnology & Life Sciences.

Health Care Equipment & Services Industry Group.

Health Care Providers & Services.

Health Care Facilities.

Health Care Services.

Managed Health Care.

Health Care Technology.

Chapter 6 Challenges in the Health Care Sector.

Slowing Growth in Mature Markets.

Legislation and Regulation.

Responding to Challenges.

Part III 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 Health Care Benchmark.

Chapter 8 Security Analysis.

Make Your Selection.

A Five–Step Process.

Important Questions to Ask.

Chapter 9 Make Your Portfolio Healthy .

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 Health Care Sector Downturn.

How to Implement Your Strategy.

Appendix Reference Material.

Notes.

About the Authors.

Index.

O autorze

Michael Kelly is a Health Care Research Analyst at Fisher Investments. He has a master of science degree in finance from Saint Xavier University and holds the CFA® and CFP® certifications.

Andrew S. Teufel has been with Fisher Investments since 1995, where he currently serves as a Vice Chairman. Prior to joining Fisher Investments, he worked at Bear Stearns as a corporate finance analyst in its Global Technology Group. Andrew 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. Andrew is a graduate of UC Berkeley.

Blurb

This eighth installment of the Fisher Investments On series is a comprehensive guide to the Health Care sector which includes industries like pharmaceuticals, health care equipment, biotechnology, and managed health care, to name just a few.

This reliable guide can help you in making top–down investment decisions specifically for the Health Care sector. It shows how to determine better times to invest in Health Care, what Health Care industries and sub–industries are likelier to do best, and how individual stocks can benefit in various environments. The global Health Care sector is complex, covering many sub–industries and countries with unique characteristics. Using the framework detailed in this book, you can learn to be better equipped to identify their differences, spot opportunities, and avoid major pitfalls.

Given the vast market landscape and diverse geographic operations, it is vital to maintain a global perspective when investing in the Health Care sector. This invaluable resource provides the tools to help you understand and analyze opportunities both in the United States and abroad within this sector.

For more information visit www.healthcare.fisherinvestments.com

About Fisher Investments Press

Fisher Investments Press brings the research, analysis, and market intelligence of Fisher Investments′ research team, headed by CEO and New York Times bestselling author Ken Fisher, to all investors. The Press covers a range of investing and market–related topics for a wide audience from novices to enthusiasts to professionals.

• An in–depth look at the global Health Care sector investment universe, including pharma, equipment, biotechnology, managed care, and more

• Tips and tools for security analysis and portfolio management

• A useful guide for investing in any market condition