Relative Dividend Yield: Common Stock Investing for Income and Appreciation, 2nd Edition [Hardcover]

Anthony E. Spare (Author)

Book Description

Publication Date: June 24, 1999 | ISBN-10: 0471327050 | ISBN-13: 978-0471327059 | Edition: 2

Expert investors Anthony Spare and Paul Ciotti demonstrate the Relative Dividend Yield (RDY) approach that has outperformed the market for more than fifteen years, without the market risk. This comprehensive book covers all aspects of investing and money management, while providing you with the proven advice you need to calmly navigate the rough waters of investing. In addition, Relative Dividend Yield, Second Edition has been completely updated to help you:
* Compare RDY with other investment methods such as venture capital, emerging growth, large growth,technical analysis, and sector rotators
* Manage even the largest portfolios with confidence
* Learn about RDY valuations, including consumer stocks, industrial stocks, utilities, and cyclical stocks
* Avoid pitfalls and take preventive measures by maintaining a safe dividend level, using a straightforward analytical process, and focusing on quality companies
* Ascertain the primary characteristics of RDY stock portfolios and find out the connection between RDY and market timing

With an exercise on Dow Jones stock selecting included, you owe it to yourself to find out why RDY is on of the best-kept secrets in investing today.

Editorial Reviews

From the Publisher

Offers a conservative investment approach suitable to all market conditions and is especially effective in dealing with uncertain or bear markets. The author, a well-known investment analyst who created Relative Dividend Yield (RDY), explains how the system works, the use of dividend and price history to screen undervalued blue chip stocks, and how to set up buy-sell ranges. Along with detailed coverage of traditional, cyclical and energy/utility stocks, the author shows investors how to set up a RDY system quickly with little or no outside assistance. --This text refers to an out of print or unavailable edition of this title.

From the Inside Flap

Global economic variables, unpredictable interest rates, stock market fluctuations-in today's volatile international business climate, corporate managers can no longer rely directly on quarterly earnings and P/E multiples as definitive measurements of their corporation's financial stability. While many companies are speculating, borrowing, and trading furiously, there is one investment philosophy that can reward you with higher-than-market returns at less-than-market risk. The Relative Dividend Yield (RDY) buy-sell discipline is a little known, but well-respected strategy that thousands of investors and corporations have used to base their financial decisions on the reliable principle of historic yields. Expert investors Anthony Spare and Paul Ciotti demonstrate the approach that has outperformed the market for more than fifteen years, without the market risk. This comprehensive book covers all aspects of investing and money management, while providing you with the proven advice you need to calmly navigate the rough waters of investing. In addition, Relative Dividend Yield, Second Edition has been updated to help you:
* Compare RDY with otherinvestment methods such as venture capital, emerging growth, large growth, technical analysis, and sector rotators
* Manage even the largest portfolios with confidence
* Learn about RDY valuations, including consumer stocks, industrial stocks, utilities, and cyclical stocks
* Avoid pitfalls and take preventive measures by maintaining a safe dividend level, using a straightforward analytical process, and focusing on quality companies
* Ascertain the primary characteristics of RDY stock portfolios and find out the connection between RDY and market timing
With an exercise on Dow Jones stock selecting included, you owe it to yourself to find out why RDY is one of the best-kept secrets in investing today. Relative Dividend Yield is an essential tool for investors looking for solid investment ideas.

See all Editorial Reviews

Product Details

• Hardcover: 248 pages
• Publisher: Wiley; 2 edition (June 24, 1999)
• Language: English
• ISBN-10: 0471327050
• ISBN-13: 978-0471327059
• Product Dimensions: 9.3 x 6.3 x 1 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 3.0 out of 5 stars  See all reviews (2 customer reviews)
• Amazon Best Sellers Rank: #2,634,657 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

3.0 out of 5 stars Something to consider for the dividennd junkie, May 24, 2010

By 

R. Caswell - See all my reviews
(REAL NAME)   

This review is from: Relative Dividend Yield: Common Stock Investing for Income and Appreciation, 2nd Edition (Hardcover)

(edited June/2011) I have come to the conclusion that making larger bets on globally diversified titans is the only way to invest. Look at your greatest investors. Buffett owned six companies that made up 80% of his holdings for decades and trounced the market. Richard Rainwater loaded up on Ensco when oil was trading in the teens. His thesis was bet big to get rich, and diversify to stay rich. My father owned the company stock and reinvested for 30 years and retired in his late 50's. This is not the theory of Spare and Tengler, but taking the best ideas and refining them to ones situation. Funny how I came to this conclusion years ago, but I bought into the diworseification mantra. Spare and Tengler just defined and refined it for me. Certainly, there is due diligence required, but this is almost a foolproof plan. It requires a bit of Graham's due diligence, the patience of Buffett, and with RDY you certainly limit the downside risk. Determing an exit strategy will be the hardest choice you have to make. My copy was old and dated. The book itself and the timliness rates about 3 stars at best. The formula contained within rates 5 stars. I paid more for the shippong than I did for the book. Best $5 bucks I ever spent.

12 of 12 people found the following review helpful:

3.0 out of 5 stars Persuasive, But Relatively Lite..., March 14, 2003

By 

S. Schneider (USA) - See all my reviews
(REAL NAME)   

This review is from: Relative Dividend Yield: Common Stock Investing for Income and Appreciation, 2nd Edition (Hardcover)

Anthony Spare and Paul Ciotti make a logical, but uninspired, case for making Relative Dividend Yield part of one's equity valuation and also one's buy/sell decisions. The book is clearly written and offers ample graphs to substantiate the notion of buying equities when dividend yields are high, and selling them once they are low.

Actually, the graphs may be too ample...readers of this rather expensive 248-page book will quickly learn that the text is a bit long on charts showing individual equity dividend yields relative to stock indexes over time, and a bit short on specifics concerning the avoidance of issues whose yields are high for good reason.

That's the book's essential deficiency: the authors devote a mere twelve overly general pages to "Pitfalls and Preventative Measures" (Chapter 6). Also, since investors will likely have a difficult time constructing the kinds of charts the Relative Dividend Yield methodology requires, it would have been helpful to offer tips on a cost-effective means to make this methodology applicable in real-time. The authors do, however, provide graphs with prior relative dividend yield histories, with room to continue plotting these yields, on several "blue chip" dividend-paying equities.