HOW TO BE A SECTOR INVESTOR is an invaluable guide for anyone embarking on the sometimes perilous but potentially highly profitable journey of investing in sectors of the stock market. With an absence of jargon, an abundance of straight talk, and a refreshing focus on risk, the authors plot a sensible course for individuals with the courage to expand their investment horizons by venturing beyond broadly diversified portfolios.
Table of Contents: Part I: Getting Started.
What's a Sector? Why Invest?
Pathways for Do-It-Yourself Sector Investing: Buying Individual Stocks.
Part II: The Investor's Toolbox.
Riding the Silicon Wave: Investing in Technology and Communications.
Saving with the Baby Boomers: Investing in Financial Services.
Playing the Aging Population: Investing in Health Care.
Traveling the World: Investing Internationally.
Working as a Commercial Landlord: Investing in Real Estate.
Lighting Up Your Portfolio: Investing in Utilities.
Digging for Pay Dirt: Investing in Energy, Hard Assets, and Other Natural Resources.
Part III: Putting It All Together.
Sailing the Investment Sea: A Step-by-Step Approach to Getting Started.
Avoiding Rough Waters: Cautions and Conundrums for the Sector Investor.
Excerpts: From the book
Why would anyone pick up a book on sector investing? More
specifically, why would you pick up a book on sector investing? Our
guess is: profit! You want your investments to make more money.
You are not satisfied with just getting to first base -- you want to
swing hard for doubles, triples, and even home runs. Let's face it: you
are a capitalist to the core, and perhaps a bit greedy. You have seen
some of the eye-popping numbers that certain sector mutual funds have
produced over the years. You want a piece of the action. Nothing wrong
with that. Indeed, we admire your aggressiveness.
But lurking just beyond the recesses of your capitalist greed lies an
even more destructive force. It is an emotion that makes you hesitate,
that calls you to inaction, and that constantly reminds you of every
investing horror story you've ever heard. That emotion: fear. Fear is,
in our opinion, the more dangerous of the two emotions that plague most
The desire for profit encourages us to invest in the stock market,
rather than leave our savings tucked safely away in low-yielding
investments. Capitalist greed compels us to take risk, to seek
ownership, and to share in the profits of the great businesses of the
world. Given enough time and proper diversification, investing in the
more volatile arena of stocks is always the right thing to do. (It is
short-term greed that usually causes the big problems.)
Fear, on the other hand, cripples the average investor and leads to
inaction. Fear often causes large sums of money to languish in money
markets or CDs. As a result, real returns, after taxes, barely keep up
with inflation. Or fear may lead to far too much invested in corporate
or government bonds. Either way, you lose the energizing power of
double-digit annual compounding that stocks have produced decade after
decade. (U.S. stocks have averaged 9.1% for 128 years since 1871 and
12.2% for the 50-plus years since World War II.)
So ask yourself: are you ready to face your fear, push past anxiety, and
embrace the possibility of sector investing? Are you willing to risk a
few strikeouts along the way as you swing for the fences? Conversely,
are you interested in diversifying part of your portfolio into real
estate, utilities, and natural resources -- sectors that often zig when
the broad market zags? If so, we invite you to join us as we journey
together down the path of intelligent, risk/reward sector investing.
In the following pages we hope to answer most of the questions that you,
as a beginning or intermediate investor, want answered. We make no
apologies to the advanced or professional investor; this book is not
written for you. We opt for a fairly basic approach, assuming no prior
knowledge of sector investing or complicated terminology.
Part One (Chapters 1 through 3) will help you get started. In Chapter 1
we explain what sector investing means, define key terms, and provide a
framework for you to build a personal basic investing philosophy. Though
many professionals don't include international investing as a specific
sector, we explain why we do. Chapters 2 and 3 describe the pathways to
investing in various sectors -- using mutual funds and/or buying
individual stocks -- with emphasis on the practical steps of each
method. Part Two (Chapters 4 through 10) provides you with a complete
toolbox for sector investing.
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