作者:
Jeremy J. Siegel 出版社: Crown Business 副标题: Why the Tried and the True Triumph Over the Bold and the New 出版年: 2005-3-8 页数: 336 定价: USD 27.50 装帧: Hardcover ISBN: 9781400081981
The new paradigm for investing and building wealth in the twenty-first century. The Future for Investors reveals new strategies that take advantage of the dramatic changes and opportunities that will appear in world markets.
Jeremy Siegel, one of the world’s top investing experts, has taken a long, hard, and in-depth look at the market and the stocks that investors should ac...
The new paradigm for investing and building wealth in the twenty-first century. The Future for Investors reveals new strategies that take advantage of the dramatic changes and opportunities that will appear in world markets.
Jeremy Siegel, one of the world’s top investing experts, has taken a long, hard, and in-depth look at the market and the stocks that investors should acquire to build long-term wealth. His surprising finding is that the new technologies, expanding industries, and fast-growing countries that stockholders relentlessly seek in the market often lead to poor returns. In fact, growth itself can be an investment trap, luring investors into overpriced stocks and overly competitive industries.
The Future for Investors shatters conventional wisdom and provides a framework for picking stocks that will be long-term winners. While technological innovation spurs economic growth, it has not been kind to investors. Instead, companies that have marketed tried-and-true products for decades in slow-growth or even declining industries have superior returns to firms that develop “the bold and the new.” Industry sectors many regard as dinosaurs—railroads and oil companies, for example—have actually beat the market.
Professor Siegel presents these strategies within the context of the coming shift in global economic power and the demographic age wave that will sweep the United States, Europe, and Japan. Contrary to the popular belief that these economic and demographic trends doom investors to poor returns, Professor Siegel explains the True New Economy and how to take advantage of the coming surge in invention, discovery, and economic growth.
The faster the world changes, the more important it is for investors to heed the lessons of the past and find the tried-and-true companies that can help you beat the market and prosper in the years ahead.
"(...) Question: Jeremy Siegel had some ideas in his second book. How would this impact your investment strategies? Warren Buffett : It didn’t. Charlie Munger : I think he is demented. Warren Buffett : He is a very nice guy Charlie. Charlie Munger : He may...
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本书是沃顿商学院顶尖的经济学家Jeremy J. Siegel继《股史风云话投资》(Stocks for the long run)之后的又一力作，原著书名为The Future for Investors。 《股史风云话投资》一书前几周本栏曾经介绍过，那可是一本让华尔街视作为股票投资叫好的经典著作，因为书中作者...
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![[美] 杰里米·J.西格尔](https://img2.doubanio.com/view/personage/m/public/72801f677a69964a59a13c29c6ba6461.jpg)
杰里米·J.西格尔 作者
蔡树焕
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超感觉
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男秘
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柠檬木木
机械工业出版社2007版
从前有座山
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刘十三
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0 有用 K2 2008-11-14 21:14:30
耐心的投资者买的是价值而不是宣传。
0 有用 Mr. L 2018-02-04 00:46:26
从观点的角度来说，这是一本典型的“从后视镜里看未来的”，犯着“幸存者偏差”谬误的，充溢着浓浓的24K金狗屎味的烂书。另外大量学术研究表明高分红提供的超额回报是小于低估值的。但总体来说很多数据都非常有用。譬如对增长的理性期望，截至2003年，过去50多年表现最好的20家标普500企业每年EPS增长9.7%，分红3.4%，加起来13.1%；而标普的平均回报6.08%，分红3.27%，加起来9.35%。... 从观点的角度来说，这是一本典型的“从后视镜里看未来的”，犯着“幸存者偏差”谬误的，充溢着浓浓的24K金狗屎味的烂书。另外大量学术研究表明高分红提供的超额回报是小于低估值的。但总体来说很多数据都非常有用。譬如对增长的理性期望，截至2003年，过去50多年表现最好的20家标普500企业每年EPS增长9.7%，分红3.4%，加起来13.1%；而标普的平均回报6.08%，分红3.27%，加起来9.35%。就算是成长天王菲利普莫里斯，平均年化EPS增长也只有14.75%。期望长期高于这样的增长，是不切实际的。由于写在科技泡沫破灭之后，因此其中有些例子深切刻画了股市的钟摆效应，比如1999年每股300的AKAM，2002年却可以用70分买到，持股到现在也已经是100倍回报了。越被痛恨的股票堆里越有机会。 (展开)
0 有用 老魁 2023-08-13 23:26:20 上海
核心思想：好公司不等于好回报。热门新赛道新企业，往往被资金过度追逐，在二级市场股民有机会买的时候已经很贵了，过高的估值在很长时间内会造成分红收益低，而股票长期回报的关键是红利再投资形成的复利效应，因此对于二级市场投资来说，好股票是那些实际增长高于市场预期的股票。因为较低的预期意味着较低的估值，较高的红利收益率。有志于以长期投资方式参与股市的投资者，应当时刻谨记不要被市场热点和高增长预期迷惑，错误投... 核心思想：好公司不等于好回报。热门新赛道新企业，往往被资金过度追逐，在二级市场股民有机会买的时候已经很贵了，过高的估值在很长时间内会造成分红收益低，而股票长期回报的关键是红利再投资形成的复利效应，因此对于二级市场投资来说，好股票是那些实际增长高于市场预期的股票。因为较低的预期意味着较低的估值，较高的红利收益率。有志于以长期投资方式参与股市的投资者，应当时刻谨记不要被市场热点和高增长预期迷惑，错误投入了宝贵的资本。短线投资者可以从另外的角度来看这本书：如果因为各种原因凑巧在低位入手一只后来被短期爆炒的股票，记得在估值偏离合理水平之时及时离场套现，不合理的估值终将回归，不要把短暂的幻影当作长期的真实。除了增长陷阱，还剖析了资产价格长期支撑的来源，即发展中国家韭菜接盘发达国家退休者。 (展开)
0 有用 lavie 2008-10-03 22:37:32
2008.09.10- 2008.10.03 Dividend + Consumer Staples
0 有用 my tongue 2013-05-08 13:55:46
有很好的数据