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Fisher Investments on Health Care
(Author), Michael Kelly (Author), Andrew S. Teufel (Author)
9780470527054, Wiley
Hardback, published 29 March 2011
224 pages, Tables: 35 B&W, 0 Color
22.9 x 15.8 x 2.3 cm, 0.408 kg
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. 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.
Foreword ix Preface xiii Acknowledgments xvii Part I Getting Started in Health Care 1 Chapter 1 Health Care Basics 3 Health Care Basics 5 Health Care Characteristics 7 Chapter 2 The US Health Care System 19 Why Does It Cost So Much? 20 Private Versus Public 25 The Regulatory System 30 US Health Care Reform 33 Chapter 3 Brief Overview of Health Care Systems by Major Countries 37 Japan 38 Germany 42 France 45 United Kingdom 48 China 52 Chapter 4 Health Care Sector Drivers 57 Defensive Nature of Health Care 58 Innovation and Patent Expirations 61 Political/Regulatory Developments 63 Part II Next Steps: Health Care Details 67 Chapter 5 Health Care Sector Breakdown 69 Global Industry Classification Standard 70 Global Health Care Benchmarks 71 Pharmaceuticals, Biotechnology & Life Sciences 74 Health Care Equipment & Services Industry Group 90 Health Care Providers & Services 97 Health Care Facilities 98 Health Care Services 99 Managed Health Care 102 Health Care Technology 106 Chapter 6 Challenges in the Health Care Sector 111 Slowing Growth in Mature Markets 112 Legislation and Regulation 115 Responding to Challenges 119 Part III Thinking Like a Portfolio Manager 127 Chapter 7 The Top-Down Method 129 Investing Is a Science 129 The Top-Down Method 132 Top-Down Deconstructed 138 Managing Against a Health Care Benchmark 145 Chapter 8 Security Analysis 151 Make Your Selection 152 A Five-Step Process 153 Important Questions to Ask 161 Chapter 9 Make Your Portfolio “Healthy” 169 Strategy 1: Adding Value at the Industry and Sub-Industry Level 170 Strategy 2: Adding Value at the Security Level 176 Strategy 3: Adding Value in a Health Care Sector Downturn 176 How to Implement Your Strategy 177 Appendix Reference Material 181 Notes 187 About the Authors 193 Index 195
Subject Areas: Finance & accounting [KF]
