Details
Fisher Investments on Health Care
Fisher Investments Press, Band 18 1. Aufl.
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33,99 € |
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| Verlag: | Wiley |
| Format: | |
| Veröffentl.: | 04.02.2011 |
| ISBN/EAN: | 9781118009819 |
| Sprache: | englisch |
| Anzahl Seiten: | 224 |
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Beschreibungen
T<i>he Fisher Investments On</i> 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. <p>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</p> <p>Care, the basic investment methodology is applicable for analyzing any global sector, regardless of the current macroeconomic environment.</p> <p>Following a top-down approach to investing, <i>Fisher Investments on Heath Care</i> 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.</p> <ul type="disc"> <li>Explains some of the sector’s key macro drivers—like its defensive characteristics, economic cycles, and investor sentiment</li> <li>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</li> <li>Takes you through the major components of the industries within the global Health Care sector and reveals how they operate</li> <li>Offers investment strategies to help you determine when and how to overweight specific industries within the sector</li> <li>Outlines a five-step process to help differentiate firms in this field—designed to help you identify ones with the greatest probability of outperforming</li> </ul> <p>Filled with in-depth insights, <i>Fisher Investments on Health Care</i> 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.</p>
<p>Foreword ix</p> <p>Preface xiii</p> <p>Acknowledgments xvii</p> <p><b>Part I Getting Started in Health Care 1</b></p> <p><b>Chapter 1 Health Care Basics 3</b></p> <p>Health Care Basics 5</p> <p>Health Care Characteristics 7</p> <p><b>Chapter 2 The US Health Care System 19</b></p> <p>Why Does It Cost So Much? 20</p> <p>Private Versus Public 25</p> <p>The Regulatory System 30</p> <p>US Health Care Reform 33</p> <p><b>Chapter 3 Brief Overview of Health Care Systems by Major Countries 37</b></p> <p>Japan 38</p> <p>Germany 42</p> <p>France 45</p> <p>United Kingdom 48</p> <p>China 52</p> <p><b>Chapter 4 Health Care Sector Drivers 57</b></p> <p>Defensive Nature of Health Care 58</p> <p>Innovation and Patent Expirations 61</p> <p>Political/Regulatory Developments 63</p> <p><b>Part II Next Steps: Health Care Details 67</b></p> <p><b>Chapter 5 Health Care Sector Breakdown 69</b></p> <p>Global Industry Classification Standard 70</p> <p>Global Health Care Benchmarks 71</p> <p>Pharmaceuticals, Biotechnology & Life Sciences 74</p> <p>Health Care Equipment & Services Industry Group 90</p> <p>Health Care Providers & Services 97</p> <p>Health Care Facilities 98</p> <p>Health Care Services 99</p> <p>Managed Health Care 102</p> <p>Health Care Technology 106</p> <p><b>Chapter 6 Challenges in the Health Care Sector 111</b></p> <p>Slowing Growth in Mature Markets 112</p> <p>Legislation and Regulation 115</p> <p>Responding to Challenges 119</p> <p><b>Part III Thinking Like a Portfolio Manager 127</b></p> <p><b>Chapter 7 The Top-Down Method 129</b></p> <p>Investing Is a Science 129</p> <p>The Top-Down Method 132</p> <p>Top-Down Deconstructed 138</p> <p>Managing Against a Health Care Benchmark 145</p> <p><b>Chapter 8 Security Analysis 151</b></p> <p>Make Your Selection 152</p> <p>A Five-Step Process 153</p> <p>Important Questions to Ask 161</p> <p><b>Chapter 9 Make Your Portfolio “Healthy” 169</b></p> <p>Strategy 1: Adding Value at the Industry and Sub-Industry Level 170</p> <p>Strategy 2: Adding Value at the Security Level 176</p> <p>Strategy 3: Adding Value in a Health Care Sector Downturn 176</p> <p>How to Implement Your Strategy 177</p> <p>Appendix Reference Material 181</p> <p>Notes 187</p> <p>About the Authors 193</p> <p>Index 195</p>
<p><b>MICHAEL KELLY</b> 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<sup>®</sup> and CFP<sup>®</sup> certifications.</p> <p><b>ANDREW S. TEUFEL</b> 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.
<p><i>The Fisher Investments On</i> 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.</p> <p>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. <p>Following a top-down approach to investing, <i>Fisher Investments on Heath Care</i> 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. <p><b>Divided into three comprehensive parts—Getting Started, Health Care Details, and Thinking Like a Portfolio Manager—<i>Fisher Investments on Health Care</i>:</b> <ul><li>Explains some of the sector’s key macro drivers—like its defensive characteristics, economic cycles, and investor sentiment</li> <li>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</li> <li>Takes you through the major components of the industries within the global Health Care sector and reveals how they operate</li> <li>Offers investment strategies to help you determine when and how to overweight specific industries within the sector</li> <li>Outlines a five-step process to help differentiate firms in this field—designed to help you identify ones with the greatest probability of outperforming</li></ul> <p>Filled with in-depth insights, <i>Fisher Investments on Health Care</i> 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.
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