华尔街华尔兹：90个可视展望、图释金融周期与趋势的教训The wall street waltz : 90 visual perspectives, illustrated lessons from financial cycles and trends

作者： Kenneth L. Fisher 著

出 版 社：

出版时间： 2007-11-1字数：版次： 1页数： 223印刷时间： 2007/11/01开本： 12开印次： 1纸张： 胶版纸I S B N ： 9780470139509包装： 精装编辑推荐

The Wall Street Waltz

Introducing the new Fisher Investment SeriesComprised of engaging and informative titles written by renowned money manager and bestselling author Ken Fisher, this series offers essential insights into the worlds of investing and finance.

"Any investor who fails to read and heed Ken Fisher's book will have only himself (or herself) to blame if he loses his shirt in the market. Using simple words and dramatic charts, Fisher packs a whole financial education into one neat package."

James W. Michaels, Editor Emeritus and Group Vice President-Editorial, Forbes, Inc.

"Ken's book vividly presents a complete picture of the stock market's history-a vital tool for the savvy investor."

Charles R. Schwab, founder, Chairman, and CEO, The Charles Schwab Corporation

"If a picture is worth a thousand words, then these charts could be worth your life savings."

William E. Donoghue, Chairman, W. E. Donoghue Co., Inc.

"Ken Fisher's clear, insightful analysis makes this a compelling book. For information and entertainment, this is a book to turn to again, and again, and again."

David Dreman, founder, Chairman, and CIO, Dreman Value Management, LLC

内容简介

On the surface, Wall Street always seems to be changing. But if you dig a little deeper, you'll quickly see that while events and curious phenomena enter and exit the scene almost daily, nothing really important has changed over the years. In fact, much of what happens in the financial world today has been played out in history many times before and has been captured in the cycles and trends of financial charts created over time. Understanding the movements within these charts provides a clearer perspective of today's market and can help you make the best possible investment decisions tomorrow.

As a successful money manager and respected financial columnist, Ken Fisher understands the importance of this information and now, with a revised and updated edition of The Wall Street Waltz, he brings it to life through 90 of the most revealing and provocative financial charts ever assembled. Many of the charts in this reliable resource are snapshots of modern financial markets—which reveal how stocks relate to sales, earnings, dividends, cash flows, and assets—while others include early twentieth-century originals, and new charts of even older events. In each case, Fisher provides what he calls a visualization, in which he analyzes each chart according to its origin, historical significance, and most importantly, its relevance to today's market.

The key to making money on Wall Street doesn't involve fancy moves, it requires focusing on the simple steps. The illustrative charts and informative explanations—which address what you should see in each chart and why they're important—found throughout these pages will provide you with a new perspective on the highly orchestrated "dance" known as the Wall Street waltz and detail timeless investment insights that will enhance your everyday investment endeavors.

The Wall Street waltz has been around for over 200 years, surviving wars, revolutions, depressions, and inflation. It's gone on all around the world in boom-bust cycles with a rhythm all its own. If you want to waltz, the 90 visualizations found in this indispensable volume will provide you with the practical guidance to do so. And tomorrow or ten years from now—when some seemingly new mania or hysteria is causing those around you to panic—you can turn here for help in gaining and maintaining your financial footing.

目录

Acknowledgments

A Reintroduction to the Waltz

Introduction to the Previous Edition

PART 1STOCK MARKET VISUALIZATIONS

Chart 1 Price/Earnings Ratios: Then and Now Dow Jones Industrials Price/Earnings Ratio, 1915-1986

Chart 2 In Case You Didn't Get It the First Time The Stock Market vs. Its P/E Ratio, 1871-1937

Chart 3 Earning a Good Return in the Market The Long-Term Tie Between Earnings and Stock

Prices, 1926-1971

Chart 4 Earnings Yields: Stocks versus Bonds Earnings Yield on the S&P 500 vs. Yield on High-Grade Corporate Bonds, 1946-1974

Chart 5 Price/Dividend Ratios Provide Long-Term Vision Price/Dividend Ratios, 1920-1985

Chart 6 Price-to-Book Ratios: Playing It by the Book The Market's Price-to-Book Ratio, 1921-1986

Chart 7 Price/Cash Flow Ratios: A Hidden TwistS&P 400 High Annual Price/Cash Flow Ratio,1945-1986

Chart 8 An Advertisement for Super Stocks and Forbes Sears, Roebuck & Company's Stock Price,

1926-1955

Chart 9 Mr. and Mrs. Financial--Real Split Personalities Railroad Stocks and Bonds, 1860-1935

Chart 10 Never a Timer Be: 56 Years of Stocks and Interest Rates Short-Term Interest Rates vs. the Stock Market, 1919-1978

Chart 11 Value Line Industrial Composite: All the Stats That Are Fit to Print Value Line Industrial Composite, 1970-1986

……

PART 2 INTEREST RATES, COMMODITY PRICES, REAL ESTATE, AND INFLATION

PART 3 ANALYZING BUSINESS CYCLES, GOVERNMENT FINANCE, AND QUA CKERY