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How can you, the informed investor, incorporate these newrealities into an investment strategy that both protects and growscapital?
Free Cash Flow and Shareholder Yield provides the key to makingprofitable investment decisions in a world that is characterized byunprecedented change. Researched and written by veteran investmentindustry professionals William Priest and Lindsay McClelland, thisbook shows how traditional investment metrics, such as the P/Eratio, are being eclipsed by a free cash flow-based approach toinvesting. To provide a functional framework for the application ofthe free cash flow philosophy, Priest and McClelland introduce theconcept of Shareholder Yield: an innovative method of gauginginvestment opportunities by the magnitude of free cash flow that isgenerated by a company and the manner in which this free cash flowis deployed. Free Cash Flow and Shareholder Yield reveals how therobust, commonsense discipline of Shareholder Yield can reduce riskand enhance returns, even in the face of today's shiftinginvestment paradigms.
This book not only equips the reader with the Shareholder Yieldtoolkit, but also shows how this strategy fits into a largerunderstanding of the global macroeconomy. By exploring the topic ofglobalization in an investment-specific context, the authors showhow the free cash flow philosophy can be directly applied to theincreasingly borderless international marketplace. Similarly, thisbook examines how the future likelihood of flat-to-rising interestrates may result in the bursting of several economic bubbles, eachof which may meaningfully affect the manner in which successfulinvestments are made.
The key to surviving these coming challenges and the secret toprofiting from the forces of globalization reside in Priest andMcClelland's free cash flow strategy as exemplified by ShareholderYield. By presenting a comprehensive, unflinching perspective ontoday's changing investment landscape, Free Cash Flow andShareholder Yield provides a must-read primer on the new prioritiesfor the global investor.
"Free Cash Flow and Shareholder Yield provides aprovocative solution to the profound paradigm shift now redefiningvaluation standards for markets around the globe. In commonsenseterms, it defines how the investment community has begun thejourney of shifting to the more dependable, robust metric of freecash flow."
—Rob Brown, Chief Investment Officer, Genworth FinancialAsset Management, Inc.
This graph tells a singularly compelling story of the changingorder of the drivers of total equity returns. In Free Cash Flowand Shareholder Yield, you will learn how this story is the keyto informed investing in an evolving global marketplace.
This book lacks direction, and a point. I think they are trying to say dividend yield matters, and expanded into 150 pages of rambling. Read morePublished on March 8, 2012 by Consumer 5
the title of this book is actually a misnomer. this book is about economics and not about a book that will help analyze financial statements.for that look elsewhere. Read morePublished on April 1, 2010 by roylopez