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Investing In Vice
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Download or read book Investing in Vice written by Dan Ahrens and published by St. Martin's Press. This book was released on 2007-04-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stocks markets go up and down, but no matter what the economy is doing, people worldwide continue to drink, smoke, gamble, and fight. Why not invest in vice? Vice Fund Manager, Dan Ahrens focuses on "sin stocks"- tobacco, alcohol, adult entertainment, gambling, and aerospace/defense, contending that even during an abysmal economy, people will continue to indulge in these goods and services. In Investing in Vice, Ahrens explores all major aspects of the vice industry and provides traders and investors with: o A brief history of each principal vice industry o Strategies for building a profitable portfolio o Charts of each industry's stock performance o Instructions on how to invest in vice-pros and cons of full service brokers, managed portfolios, and mutual funds o Top Picks-of the best companies, and top stock holdings o Reasons why Socially Responsible Investing may not work With its lighthearted tone and simple approach, Investing in Vice is the ultimate defense in these troubled economic times.
Download or read book Investing in Vice written by Dan Ahrens and published by Saint Martin's Paperbacks. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Stocking Up on Sin by : Caroline Waxler
Download or read book Stocking Up on Sin written by Caroline Waxler and published by John Wiley & Sons. This book was released on 2004-02-25 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: A one-of-a-kind guide to investing in vice industries Although vices such as alcohol, tobacco, and gambling may be deemed socially irresponsible, in the investment world, these stocks continue to dramatically outperform the S&P 500 in this depressed market. Stocking Up on Sin shows readers how to get in on this hot investment trend and make the most out of publicly traded companies that deal with "vice" products such as coffee, weapons, alcohol, and tobacco. Caroline Waxler (New York, NY) is a New York-based financial journalist. She contributes regularly to Worth and Glamour magazines as well as the Financial Times. She was also the ghostwriter for Worth's Greatest Stock Picks of All Time.
Book Synopsis Vice vs. Virtue Investing Around the World by : Sebastian Lobe
Download or read book Vice vs. Virtue Investing Around the World written by Sebastian Lobe and published by . This book was released on 2011 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we empirically test the extent to which a portfolio of socially not responsible firms screened out of a market portfolio will trade at a discount. We create a set of global and domestic sin indexes consisting of a large number of publicly traded socially not responsible stocks around the world belonging to what we label as the Sextet of Sin: adult entertainment, alcohol, gambling, nuclear power, tobacco, and weapons. We compare their stock market performance directly with a set of virtue comparables consisting of the most important in-ternational socially responsible investment indexes. Employing a multi-factor performance measurement framework and recent boot-strap procedures for robust performance testing, we find no compelling evidence in the data that ethical and unethical screens lead to a sig-nificant difference in their financial performance.
Book Synopsis Vice Versus Virtue Investing Around the World by : Sebastian Lobe
Download or read book Vice Versus Virtue Investing Around the World written by Sebastian Lobe and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assumes the role of advocatus diaboli by testing whether an investment in sin stocks can financially outperform an investment in socially responsible stocks. We create a set of global, regional, and domestic portfolios consisting of a large number of stocks belonging to what could be labeled as a sextet of sin: adult entertainment, alcohol, gambling, nuclear power, tobacco, and weapons. We assess the performance of sin stocks against well-known benchmarks, and rerun the identical assessment for socially responsible stocks. We find no compelling evidence that sin stocks, or socially responsible stocks outperform or under-perform, and establish this result in several ways. Consistent with this finding, a hedge portfolio long in sin stocks and short in socially responsible stocks does not outperform the market, either. However, sin stocks are substantially tilted towards value, bear less market risk with an average beta below one, and are prone to momentum relative to socially responsible stocks.
Download or read book Finding #1 Stocks written by Kevin Matras and published by John Wiley & Sons. This book was released on 2011-04-26 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Practical trading tools and techniques developed by Zacks Investment Research While there are many stock trading systems on the market today, that use a variety of different approaches and indicators, the approach used by Zacks Investment Research is built around the number one driver of stock prices: company earnings. Based on Zacks Research Wizard product, this book provides you with market beating stock selection techniques and advice on how to build your own stock selection system. This practical guide discloses several trading methods that have outperformed the market for a long period of time and shows you how to screen stocks and develop selection criteria to build various types of stock portfolios, such as aggressive growth; growth and income; momentum; and value. Highlights several of Zacks trading methods that have outperformed the market for extended periods of time Discusses how to create customized systems incorporating elements of the Zacks approach with other types of fundamental and technical data Includes a 30-day free subscription to Zacks Research Wizard software Written with the serious investor in mind, Finding #1 Stocks will put you in a better position to excel in today's dynamic markets.
Book Synopsis Fiduciary Duty and Sin Stocks by : Andreas G. F. Hoepner
Download or read book Fiduciary Duty and Sin Stocks written by Andreas G. F. Hoepner and published by . This book was released on 2015 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several recent studies led by Hong & Kacperzcyk (2009, Journal of Financial Economics) document that companies in industries perceived as sinful - so called sin stocks (i.e. alcohol, tobacco, gambling) - deliver a significant and positive abnormal stock market performance. This potentially attractive characteristics make these sin stocks a relevant investment opportunity for pension funds. In fact, following a rather conservative interpretation of pension funds' fiduciary duty, one might argue that pension funds have to investment overproportionally in sin stocks due to their seemingly superior returns to act in the best financial interest of their beneficiaries. This best financial interest, however, is unlikely the best interest of the beneficiary from a wider wellbeing perspective as, for instance, investments in tobacco companies are unlikely supportive of public health and hence beneficiaries' life expectancy. Before one dives into this legal paradoxon it is worth considering the practicalities of investing in these so called sin stocks, as the academic studies documenting their preferential characteristics used nearly exclusively hypothetical portfolios and not actual investment funds. In fact, only one sin stock based investment fund exists to the best our of knowledge, the Vice Fund. In this chapter, we pursue the first in depth analysis of the financial attractiveness of the Vice Fund, which penalizes instead of rewards responsible corporations. Despite the financial potential of the Vice Fund's underlying sin stocks has recently been indicated, we find the Vice Fund's abnormal return to be statistically indistinguishable from zero. Interestingly, the Vice Fund managers possess significantly value destructing directional trading and crisis management skills. Consequently, we cannot see any practical reason why pension funds would have to invest overproportionally in sin stocks, as their actually realised investment performance is no better than ordinary. Our finding is not necessarily inconsistent with Hong and Kacperczyk (2009), as they regressed equal weighted sin stocks against a value weighted market benchmark and economy wide investment style controls, which means that their significant positive alphas could have resulted from a clever portfolio weighting instead of any sin characteristics (i.e. the overproportionally weighted small sin stocks could have outperformed the underproportionally weighted large sin stocks).
Book Synopsis Impact Investing by : Antony Bugg-Levine
Download or read book Impact Investing written by Antony Bugg-Levine and published by John Wiley & Sons. This book was released on 2011-08-02 with total page 341 pages. Available in PDF, EPUB and Kindle. Book excerpt: A ground-breaking book on the transformative power of impact investing This is the first book to chart the catalytic path of this new industry, explaining how it is and can be a positive disruptive force. It shows how impact investing is a transformational vehicle for delivering "blended value" throughout the investment spectrum, giving a single name to a set of activities previously siloed in enclaves, revealing how they are linked within what is becoming a new field of investing. Written by two leaders in the growing field of impact investing, the book defines this emerging industry for participants on all sides of the funding equation (investors, funders and social entrepreneurs). Filled with illustrative examples of impact investing success stories Reveals how the field can expand in order to address the most critical social and environmental issues of our day Explores the wide-ranging applications of impact investing as well as entrepreneurial opportunities The authors do not take a normative approach to argue how investors should behave like an investment guide might but show how entrepreneurial people and institutions are already offering an integrated alternative.
Book Synopsis Can Naughty Be Nice for Investors by : Greg M. Richey
Download or read book Can Naughty Be Nice for Investors written by Greg M. Richey and published by . This book was released on 2014 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article examines the return characteristics of a portfolio of US 'vice stocks', firms that manufacture and sell socially irresponsible products such as alcohol, tobacco, gaming services and national defense. First of all, I construct a portfolio using the daily returns of 41 vice stocks over the period October 2007 to October 2013 and find the Jensen's alpha (CAPM), Fama-French Three Factor and Carhart Four-Factor results for the entire portfolio, the entire portfolio during bear and bull markets, and each vice industry individually. Full-period results show a positive, yet insignificant alpha for the entire portfolio and each vice industry. Bear market results show a positive and significant alpha for the entire portfolio as well as for all industry portfolios except the tobacco industry. Bull market results for the portfolio are less conclusive with a significant alpha only in the three and four-factor models.
Book Synopsis The Bogleheads' Guide to Investing by : Taylor Larimore
Download or read book The Bogleheads' Guide to Investing written by Taylor Larimore and published by John Wiley & Sons. This book was released on 2006-04-20 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Within this easy-to-use, need-to-know, no-frills guide to building financial well-being is advice for long-term wealth creation and happiness, without all the worries and fuss of stock pickers and day traders.
Book Synopsis Investing with the Trend by : Gregory L. Morris
Download or read book Investing with the Trend written by Gregory L. Morris and published by John Wiley & Sons. This book was released on 2013-12-31 with total page 496 pages. Available in PDF, EPUB and Kindle. Book excerpt: Investing with the Trend provides an abundance of evidence for adapting a rules-based approach to investing by offering something most avoid, and that is to answer the “why” one would do it this way. It explains the need to try to participate in the good markets and avoid the bad markets, with cash being considered an asset class. The book is in three primary sections and tries to leave no stone unturned in offering almost 40 years of experience in the markets. Part I – The focus is on much of the misinformation in modern finance, the inappropriate use of Gaussian statistics, the faulty assumptions with Modern Portfolio Theory, and a host of other examples. The author attempts to explain each and offer justification for his often strong opinions. Part II – After a lead chapter on the merits of technical analysis, the author offers detailed research into trend analysis, showing how to identify if a market is trending or not and how to measure it. Further research involves the concept of Drawdown, which the author adamantly states is a better measure of investor risk than the oft used and terribly wrong use of volatility as determined by standard deviation. Part III – This is where he puts it all together and shows the reader all of the steps and details on how to create a rules-based trend following investment strategy. A solid disciplined strategy consists of three parts, a measure of what the market is actually doing, a set of rules and guidelines to tell you how to invest based upon that measurement, and the discipline to follow the strategy
Book Synopsis Beat the Crowd by : Kenneth L. Fisher
Download or read book Beat the Crowd written by Kenneth L. Fisher and published by John Wiley & Sons. This book was released on 2015-03-30 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Train your brain to be a real contrarian and outsmart the crowd Beat the Crowd is the real contrarian’s guide to investing, with comprehensive explanations of how a true contrarian investor thinks and acts – and why it works more often than not. Bestselling author Ken Fisher breaks down the myths and cuts through the noise to present a clear, unvarnished view of timeless market realities, and the ways in which a contrarian approach to investing will outsmart the herd. In true Ken Fisher style, the book explains why the crowd often goes astray—and how you can stay on track. Contrarians understand how headlines really affect the market and which noise and fads they should tune out. Beat the Crowd is a primer to the contrarian strategy, teaching readers simple tricks to think differently and get it right more often than not. Discover the limits of forecasting and how far ahead you should look Learn why political controversy matter less the louder it gets Resurrect long-forgotten, timeless tricks and truths in markets Find out how the contrarian approach makes you right more often than wrong A successful investment strategy requires information, preparation, a little bit of brainpower, and a larger bit of luck. Pursuit of the mythical perfect strategy frequently lands folks in a cacophony of talking heads and twenty-four hour noise, but Beat the Crowd cuts through the mental clutter and collects the pristine pieces of actual value into a tactical approach based on going against the grain.
Book Synopsis The White Coat Investor by : James M. Dahle
Download or read book The White Coat Investor written by James M. Dahle and published by White Coat Investor LLC the. This book was released on 2014-01 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by a practicing emergency physician, The White Coat Investor is a high-yield manual that specifically deals with the financial issues facing medical students, residents, physicians, dentists, and similar high-income professionals. Doctors are highly-educated and extensively trained at making difficult diagnoses and performing life saving procedures. However, they receive little to no training in business, personal finance, investing, insurance, taxes, estate planning, and asset protection. This book fills in the gaps and will teach you to use your high income to escape from your student loans, provide for your family, build wealth, and stop getting ripped off by unscrupulous financial professionals. Straight talk and clear explanations allow the book to be easily digested by a novice to the subject matter yet the book also contains advanced concepts specific to physicians you won't find in other financial books. This book will teach you how to: Graduate from medical school with as little debt as possible Escape from student loans within two to five years of residency graduation Purchase the right types and amounts of insurance Decide when to buy a house and how much to spend on it Learn to invest in a sensible, low-cost and effective manner with or without the assistance of an advisor Avoid investments which are designed to be sold, not bought Select advisors who give great service and advice at a fair price Become a millionaire within five to ten years of residency graduation Use a "Backdoor Roth IRA" and "Stealth IRA" to boost your retirement funds and decrease your taxes Protect your hard-won assets from professional and personal lawsuits Avoid estate taxes, avoid probate, and ensure your children and your money go where you want when you die Minimize your tax burden, keeping more of your hard-earned money Decide between an employee job and an independent contractor job Choose between sole proprietorship, Limited Liability Company, S Corporation, and C Corporation Take a look at the first pages of the book by clicking on the Look Inside feature Praise For The White Coat Investor "Much of my financial planning practice is helping doctors to correct mistakes that reading this book would have avoided in the first place." - Allan S. Roth, MBA, CPA, CFP(R), Author of How a Second Grader Beats Wall Street "Jim Dahle has done a lot of thinking about the peculiar financial problems facing physicians, and you, lucky reader, are about to reap the bounty of both his experience and his research." - William J. Bernstein, MD, Author of The Investor's Manifesto and seven other investing books "This book should be in every career counselor's office and delivered with every medical degree." - Rick Van Ness, Author of Common Sense Investing "The White Coat Investor provides an expert consult for your finances. I now feel confident I can be a millionaire at 40 without feeling like a jerk." - Joe Jones, DO "Jim Dahle has done for physician financial illiteracy what penicillin did for neurosyphilis." - Dennis Bethel, MD "An excellent practical personal finance guide for physicians in training and in practice from a non biased source we can actually trust." - Greg E Wilde, M.D Scroll up, click the buy button, and get started today!
Book Synopsis Pay Yourself First by : Timothy W. Cunningham
Download or read book Pay Yourself First written by Timothy W. Cunningham and published by John Wiley & Sons. This book was released on 1996-09-28 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by the founders of the Life Cycle Mutual Funds, a revolutionary age- and solution-based family of mutual funds, this guide demystifies the principles of retirement investing and shows readers how to take charge of their financial future. Using real-life anecdotes and examples, this text focuses on the human element involved in retirement planning. 20 charts.
Book Synopsis Strategic Value Investing (PB) by : Stephen Horan
Download or read book Strategic Value Investing (PB) written by Stephen Horan and published by McGraw Hill Professional. This book was released on 2013-10-18 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: Benjamin Graham referred to it as his “margin of safety.” Seth Klarman favors it over all other investment methods. Warren Buffett uses it to make millions for his investors. It’s called value investing, and you can make it work wonders for your portfolio. All you need is money to invest, a little patience—and this book. Strategic Value Investing reveals everything you need to know to build a world-class portfolio using value investing as your north star. Written by experts on valuation and financial analysis, this comprehensive guide breaks it all down into an easy-to-implement process. The authors explain the ins and outs of determining when a stock is undervalued, then purchasing it and selling it for a profit when the rest of the world learns what you knew all along. With Strategic Value Investing, you’ll learn how to: Distinguish between the various measures of value, including going concern, replacement value, fair market value, book value, and intrinsic value Identify undervalued companies before everyone else, and know what to look for, what to avoid, when to buy, and when to sell The authors teach you how to establish a dispassionate value investing philosophy tailored to your needs. Equally important, they provide the tools you need to adhere to this often contrarian approach regardless of your emotions or crowd sentiment. Get in before the crowd—and get out when the price is right with Strategic Value Investing. Praise for Strategic Value Investing “A book that has much the same character as a good value investor: calm, disciplined, with a grasp both of broad theory and of how to apply it.” —JOHN AUTHERS, senior investment columnist, Financial Times “This comprehensive look at valuation techniques is not only insightful, but can be easily put to use by individual and professional investors alike.” —CHARLES ROTBLUT, CFA, Vice President, the American Association of Individual Investors “Offers a sound fundamental perspective for those looking to deepen their analysis around stocks. A great resource for all types of value investors.” —HEATHER BRILLIANT, CFA, global head of equity research at Morningstar and member of the CFA Institute Board of Governors “This book is of Real Value! It updates the pioneering work of Ben Graham and Phillip Fisher, blending the valuation techniques of the masters (such as Warren Buffett) and provides institutional and individual investors the A to Z of value investing from a practitioner perspective.” —JOHN MAGINN, CFA, EVP & CIO, Mutual of Omaha (retired) and coeditor of Managing Investment Portfolios “An actionable road map for implementing a disciplined value investing strategy. Very much in the Ben Graham style. The sophisticated individual investor will find this comprehensive digest a continual and timeless reference.” —WALLACE FORBES, CFA, President of Forbes Investors Advisory Institute, Division of Forbes magazine “Many books propose to help you learn how to become a better value investor. This one, which is bound to become a staple of every value investor’s library, delivers on its promise.” —ROBERT POWELL, editor of Retirement Weekly and columnist of “MarketWatch”
Book Synopsis Non-Consensus Investing by : Rupal J. Bhansali
Download or read book Non-Consensus Investing written by Rupal J. Bhansali and published by Columbia University Press. This book was released on 2019-10-01 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: At a time when many proclaim the death of active investing, Rupal J. Bhansali, global contrarian, makes a clarion call for its renaissance. Non-consensus thinking has resulted in breakthrough successes in science, sports, and Silicon Valley. Bhansali shows how to apply it to the world of investing to improve one’s odds of achieving above-average returns with below-average risks. Her upside-down investment approach focuses on avoiding losers instead of picking the winners, asking the right questions instead of knowing the right answers, and scoring upset victories to achieve the greatest bang for one’s research buck. Through a series of counterintuitive concepts and contemporary case studies from her firsthand experience of investing in fifty markets around the globe, Bhansali describes how to perform differentiated fundamental research to uncover mispriced stocks. She candidly shares her failures and mistakes as well as her successes and triumphs. She also weaves in her personal journey, recounting how she overcame the odds to succeed in a male-dominated profession and offering advice on breaking the glass ceiling. Non-Consensus Investing is a must-read for anyone who seeks to understand why active investing disappointed and how it can succeed—analysts and amateurs, fiduciaries and financial advisors, aspiring and practicing money managers, as well as students or investment enthusiasts.
Book Synopsis Social Value Investing by : Howard W. Buffett
Download or read book Social Value Investing written by Howard W. Buffett and published by Columbia University Press. This book was released on 2018-05-29 with total page 592 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social Value Investing presents a new way to approach some of society’s most difficult and intractable challenges. Although many of our world’s problems may seem too great and too complex to solve — inequality, climate change, affordable housing, corruption, healthcare, food insecurity — solutions to these challenges do exist, and will be found through new partnerships bringing together leaders from the public, private, and philanthropic sectors. In their new book, Howard W. Buffett and William B. Eimicke present a five-point management framework for developing and measuring the success of such partnerships. Inspired by value investing — one of history’s most successful investment paradigms — this framework provides tools to maximize collaborative efficiency and positive social impact, so that major public programs can deliver innovative, inclusive, and long-lasting solutions. It also offers practical insights for any private sector CEO, public sector administrator, or nonprofit manager hoping to build successful cross-sector collaborations. Social Value Investing tells the compelling stories of cross-sector partnerships from around the world — Central Park and the High Line in New York City, community-led economic development in Afghanistan, and improved public services in cities across Brazil. Drawing on lessons and observations from a broad selections of collaborations, this book combines real life stories with detailed analysis, resulting in a blueprint for effective, sustainable partnerships that serve the public interest. Readers also gain access to original, academic case material and professionally produced video documentaries for every major partnerships profiled — bringing to life the people and stories in a way that few other business or management books have done.
