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Fisher Investments on Consumer Staples
(Author), Michael Cannivet (Author), Andrew Teufel (Author)
9780470416655, Wiley
Hardback, published 26 June 2009
240 pages, Tables: 31 B&W, 0 Color
23.6 x 16 x 2.3 cm, 0.431 kg
The third installment of the Fisher Investments On series is a comprehensive guide to the Consumer Staples industry—which includes companies that manufacture and sell food and beverages, tobacco, prescription drugs, and household products, to name a few. This reliable resource provides you with the tools to help you understand and analyze opportunities within today's global Consumer Staples sector. With this book as your guide, you can quickly become familiar with how the Consumer Staples sector is segmented by industries, their respective macroeconomic drivers, and the challenges facing companies in this sector. Additionally, there are chapters dedicated to explaining many of the unique aspects of Consumer Staples products in emerging markets and security analysis techniques focused on Consumer Staples firms. You don't have to be a professional to learn to better invest in the Consumer Staples sector—but you do need to be prepared. Fisher Investments on Consumer Staples can help get you up to speed in this area and help you make better decisions through any market conditions. For more information visit www. consumerstaples.fisherinvestments.com
Foreword ix Preface xi Acknowledgments xv Part I Getting Started in Consumer Staples 1 Chapter 1 Consumer Staples Basics 3 Overview 4 Staples’ Distant Cousin—Consumer Discretionary 7 The Business Cycle’s Winds of Change 10 Boring Can Be Beautiful 15 Chapter 2 History of Consumerism in America 21 Colonial America and Consumerism 22 Mass Production in the Late Nineteenth Century 26 The Roaring Twenties and the Consumer Economy (1921–1929) 28 Mass Marketing and Modern Consumer Products 35 The Modern Landscape 37 Chapter 3 Consumer Staples Sector Drivers 39 Economic Drivers 39 Political Drivers 52 Sentiment Drivers 55 Part II Next Steps: Consumer Staples Details 59 Chapter 4 Consumer Staples Sector Breakdown 61 Global Industry Classification Standard (GICS) 62 Global Consumer Staples Benchmarks 63 Food, Beverage & Tobacco 65 Household & Personal Products 86 Food & Staples Retailers 90 Chapter 5 Challenges in the Consumer Staples Sector 101 Challenge 1: Growing in Mature Industries 101 Challenge 2: Dealing With Volatile Input Costs 113 Chapter 6 Consumer Staples in Emerging Markets 123 Opportunity Knocks 123 Emerging Markets and Consumer Products 125 Investment Idiosyncrasies 135 Part III Thinking Like a Portfolio Manager 139 Chapter 7 The Top-Down Method 141 Investing Is a Science 141 The Top-Down Method 145 Top-Down Deconstructed 150 Managing Against a Consumer Staples Benchmark 158 Chapter 8 Security Analysis 163 Make Your Selection 164 A Five-Step Process 165 Important Questions to Ask 173 Chapter 9 Consumerize Your Portfolio—Investing Strategies 181 Strategy 1: Playing the Market Cycle 182 Strategy 2: Playing Style Shifts 186 Strategy 3: Develop New Categorizations 189 Implementing Your Strategy 191 Appendix: Consumer Staples Sector Resources 195 Notes 199 About the Authors 209 Index 211
Subject Areas: Finance & accounting [KF]
