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Fisher Investments on Financials
The easy-to-use resource for anyone looking to learn more about the financial sector and how to make the most of it The Fisher Investments On series is designed to provide individual investors, students, and aspiring investment professionals with 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 Financials, 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 Financials can help you make more informed decisions within the Financials sector. It skillfully addresses how to determine optimal times to invest in Financials stocks and which Financials industries have the potential to perform well in various environments. The book is divided into three comprehensive parts―Getting Started, Financials Details, and Thinking Like a Portfolio Manager. Filled with in-depth insights, Fisher Investments on Financials 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 Financials sector and discover strategies to help achieve your investing goals.
224 pages, Hardcover
First published September 12, 2012
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Displaying 1 - 2 of 2 reviews
August 21, 2018
With this book the author provides the basis of an understanding of how to invest in the finance sector. The author is an analyst at Fisher Investments covering the financial sector and macro strategy and with this book Ken Fisher’s investment firm completed the book series going through how to invest in all 10 GICS sectors. The structure of the book is the same as previously. A sector is presented and then a strategy for investing and portfolio construction is suggested. This later section is more or less similar for all the books. The intended audiences are individual investors, students and aspiring investment professionals and the goal is to provide them with the tools to make their own investment decisions.
Contrary to what many perhaps believe Financials is a very diverse sector comprising of the industry groups 1) banks, 2) insurance, 3) real estate and so-called 4) diversified financials – and within these four there are plenty of further variations and business models. After a introductory chapter each of these industry groups get one chapter each ranging from 10 to 30 pages with a fair amount of white space.
It stands to reason that discussing insurance with a text that might fill 5 or so A4-pages becomes very schematic. This doesn’t make it wrong or bad – just not very comprehensive. I don’t feel that any area has been unduly left out. The bulk of the description is focused on banks and with the relatively large size compared to the other industry groups this might be warranted. This is in comparison with for example the parallel book on Information Technology where the dominating industry group Software & Services received very little attention.
Despite the brevity the author presents many of the relevant concepts in the industry groups and does a fair job of discussing the foundation of their business models. What I would have wished for is 10 or 15 more pages adding some numerical examples. Financials is very much about the numbers in for example balancing various risks or balancing risk versus returns and the reader’s understanding of financial indicators becomes somewhat limited if he only gets a verbal description of them.
It’s easy to criticize the books in this series for being overly rhapsodic, for using the same investment strategy section over and over again. I also think their writing generally lacks curiosity and passion – although Mr. Kirz’s text was above average in this area. However, it’s not easy to write about complicated areas in short form and if a private investor takes the time to read all ten texts (leaving the reading of the investment strategy to the last book) he will gain a good basic understanding of how most listed companies make money and what drives their shares and the ebb and flow of earnings. If these books didn’t exist it would only be those who had access to the industry primers of investment banks that could get a similar overview of the investment universe.
Considering that most private investors to a large extent lack a method for portfolio construction and risk management the method suggested by Fisher Investments might increase returns over long term. Not because I think it will make them outperform the market but because I think it will make them underperform less and also reduce their risks. This is probably an equally important contribution as giving private investors knowledge on sectors.
This book is a good alternative for those who want to get a first glimpse of the financial sector but do not expect any deeper insights.
Contrary to what many perhaps believe Financials is a very diverse sector comprising of the industry groups 1) banks, 2) insurance, 3) real estate and so-called 4) diversified financials – and within these four there are plenty of further variations and business models. After a introductory chapter each of these industry groups get one chapter each ranging from 10 to 30 pages with a fair amount of white space.
It stands to reason that discussing insurance with a text that might fill 5 or so A4-pages becomes very schematic. This doesn’t make it wrong or bad – just not very comprehensive. I don’t feel that any area has been unduly left out. The bulk of the description is focused on banks and with the relatively large size compared to the other industry groups this might be warranted. This is in comparison with for example the parallel book on Information Technology where the dominating industry group Software & Services received very little attention.
Despite the brevity the author presents many of the relevant concepts in the industry groups and does a fair job of discussing the foundation of their business models. What I would have wished for is 10 or 15 more pages adding some numerical examples. Financials is very much about the numbers in for example balancing various risks or balancing risk versus returns and the reader’s understanding of financial indicators becomes somewhat limited if he only gets a verbal description of them.
It’s easy to criticize the books in this series for being overly rhapsodic, for using the same investment strategy section over and over again. I also think their writing generally lacks curiosity and passion – although Mr. Kirz’s text was above average in this area. However, it’s not easy to write about complicated areas in short form and if a private investor takes the time to read all ten texts (leaving the reading of the investment strategy to the last book) he will gain a good basic understanding of how most listed companies make money and what drives their shares and the ebb and flow of earnings. If these books didn’t exist it would only be those who had access to the industry primers of investment banks that could get a similar overview of the investment universe.
Considering that most private investors to a large extent lack a method for portfolio construction and risk management the method suggested by Fisher Investments might increase returns over long term. Not because I think it will make them outperform the market but because I think it will make them underperform less and also reduce their risks. This is probably an equally important contribution as giving private investors knowledge on sectors.
This book is a good alternative for those who want to get a first glimpse of the financial sector but do not expect any deeper insights.
May 19, 2024
This book is exceptional in many aspects, though it lacks depth.
You'll learn about the indicators frequently used to analyze and compare banks and insurance companies. Additionally, this book provides valuable insights into the value drivers of financial firms.
After delving into the specifics of analyzing financial companies, the book explores the top-down investment approach. In this sense, it is no different from other books in the Fisher Investments series.
The writing is elegant. The book's style is impeccable and old-school. I thoroughly enjoyed reading this text.
Unfortunately, the book is superficial. It lacks in-depth case studies on making investment decisions in real-world situations. I am unaware of any advanced books that could serve as its complement. It seems there is little incentive for knowledgeable and experienced authors to write and publish books.
You'll learn about the indicators frequently used to analyze and compare banks and insurance companies. Additionally, this book provides valuable insights into the value drivers of financial firms.
After delving into the specifics of analyzing financial companies, the book explores the top-down investment approach. In this sense, it is no different from other books in the Fisher Investments series.
The writing is elegant. The book's style is impeccable and old-school. I thoroughly enjoyed reading this text.
Unfortunately, the book is superficial. It lacks in-depth case studies on making investment decisions in real-world situations. I am unaware of any advanced books that could serve as its complement. It seems there is little incentive for knowledgeable and experienced authors to write and publish books.
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