Livres numériques

Retour aux livres numériques
Outperforming the Market

Table des matières

Afficher Fermer
Cover 1
Copyright page 5
Table of Contents 6
Introduction 12
About the Author and the Book 13
Acknowledgments 18
1. Warren Buffett and Value Investing 20
Early Days 20
Studying Value Investing under Professor Graham 22
Working as a Broker and Purchase of GEICO 24
The Buffett Partnership: Purchase of American Express and other Stocks 25
Buffett Returns: Buys up Bargain Stocks in the Crash of 1973–74 28
Biggest Bet — Coca-Cola 30
Berkshire Hathaway Annual Reports 32
2. Jesse Livermore and Technical Analysis 34
Job as Quotation Boy 34
The Teenage Speculator 35
Union Pacific — First Big Coup 36
A Bad Tip 38
Getting in Sync with the General Trend 38
Playing the Cotton Market 41
The Bull Market of 1915 42
After World War I 43
Lessons from Livermore 43
Technical Analysis since Livermore 44
3. Cyclical Companies 46
The Stelco Turnaround 47
Why the Stelco Turnaround Occurred 48
"Who Would Want to Buy the Titanic?" 49
Chrysler Corporation and Peter Lynch 50
Chrysler and the Auto Cycle 52
Lessons from the Stelco and Chrysler Cases 53
4. Companies that Grow through Geographical Expansion 54
Peter Lynch and Body Shop 55
Loblaw Companies: Food Retailer as Growth Company 57
5. Companies that Grow through Acquisitions 60
Loewen Group 60
The Funeral Services Industry 61
Ray Loewen and the Emergence of Loewen Group 62
Loewen Group Goes Public 64
1990–91: Attack of the Short Sellers 65
1992–95: The Growth Machine Continues 67
A Thunderbolt from Mississippi 67
Takeover Attempt 68
6. Companies that Grow through New Products 70
Production and Market Risk 70
Sweet Spot in Product Cycle 71
Competition and other Risk Factors 71
Short-Term Trading Horizons 72
Case Studies 73
Finding the Next Microsoft: Using the Shotgun Approach 82
7. Companies that Grow through Niche Strategies 86
Origins of Newcourt Credit 86
Newcourt Shares up 1,000% 88
Newcourt's Niche 88
Newcourt Emerges as a Dominant Player in Niche 89
The Competitive' Edge in Originating Loan Business 91
Some Lessons from Newcourt 92
8. Stock Market Trends: A Study of the 1920s and 1930s 93
The Bull Market of the 1920s 94
Stock Market Trends in the 1930s 98
Lessons from the 1920s and 1930s 102
9. Stock Market Trends: A Study of the 1980s 104
The First Bull Phase 104
The Second Bull Phase 105
Crash of 1987 106
Lessons from the 1980s 109
10. How Accounting Methods Can Impact Share Values 111
Case Studies of the Impact of Accounting Methods on Share Prices 112
Some Guidelines for Spotting Accounting Pitfalls 116
11. Selecting Investments in Emerging Countries 118
The Unfolding of the 1994 Mexican Crisis 119
Origin and Anatomy of the Crisis 120
The Dismal Record of the Advisories 122
12. Opportunities in Short Selling 124
Introduction 124
Martin Zweig on Short Selling 126
Mechanics of Short Selling 126
Misconceptions and Other Matters Concerning Short Selling 127
Case Studies 128
Sources for Ideas on Stocks to Sell Short 138
Top Ten Guidelines for Selecting Stocks to Sell Short 139
Modus Operandi 140
13. Opportunities in Exchange Rates 142
The Dream of the Elites 143
Anatomy of an Emerging Investment Opportunity 144
Countdown to the Collapse: Interest Rates of 500% and other Signals 145
Dominoes and Fortunes 147
14. Opportunities in Trading Futures Contracts 148
Opportunity in the Lumber Market 149
Spotted Owls and Hurricanes 149
Dramatic Reversal in the Price Trend 151
The Roller Coaster Continues: Lumber Prices Rebound 151
15. Primer on Futures Contracts 153
16. George Soros and the Macro Approach 157
The Young Soros 157
Career in Investment Industry 158
Modus Operandi 160
Investing in Defense Stocks in the 1970s 162
Big Investment Bets in the 1980s 162
17. Conclusion 166

Formats disponibles :

  • PDF

    Protection: Filigrane 11,95$