Learning Industry Drivers

i picked it up originally prior to interviewing them. it doesn’t cover “each little weird industry” but it gives a good overview of the major ones and what the key drivers are. i also thought it went into valuation metrics for each of the industry. So what you are missing virgin is the ability to do some basic research - step away from the keyboard and during your smokebreak mix in a walk to a library or a bookstore and look at it for yourself. thanks for the needless recap of the question. get it?

Let’s be clear on something. I don’t smoke tobacco.

touche - ; )

  • Handbook of security analysis by Joe Kan (a bit outdated but still relevant) - If you have access to Moody’s, S&P or DBRS, they have written reports on how they rate companies in various industries.

A bit off topic, but considering each industry has it’s own little quirks/metrics/legal issues, how broadly invested are you guys in your portfolio (non-retirement accounts)? I started off the year with a portfolio spanning multiple industries with the idea of building a diversified portfolio, but realized that I do not understand the nuances of each. So now, I’m starting to consolidate my holdings into a few industries that I reasonably understand at the expense of asset allocation (I think). I don’t want to start a generalist versus specialist debate, but I’ve been wondering if anybody has had the same problem.

virginCFAhooker Wrote: ------------------------------------------------------- > That morningstar book looks like a typical > cheezball retail stockpicking book. What am I > missing? Does it really have all the specific > industry metrics defined? > > Look, he’s not talking about “value” or “growth” > or portfolio theory, or small cap/large cap… he > wants to know the LINGO that analysts use for each > little weird industry that exists. A biotech > investor can be a value investor but still needs > to know how to understand P value and wtf is stage > 2 vs stage 3,etc. A goldbug needs to understand > cashcosts. Get it? We need one handy little > DICTIONARY for all that stuff. > I’d buy that book if it exists. I’d even pay $10 > for it. I just looked at the table of contents. There were chapters dedicated to the inner workings of various industries. Of course guys analysis could suck, but I suspect there may be some useful nuggets in there. At least a shrewed analytical type would be able to take the guys info and run with it to finding out more relevant info.

On Thursday I have a dental appointment (routine cleaning, nothing serious) across the street from the library. I will read the book in between glances down the hygenist’s blouse.