傑裏米·西格爾是沃頓商學院的金融學教授。他在麻省理工學院取得經濟學博士學位,是研究證券投資的權威、美聯儲和華爾街優秀投資機構的顧問。他在《華爾街日報》、《巴倫》、《金融時報》等主要的財經媒體上發錶過多篇文章。
1999年年他在《華爾街日報》上發錶的一篇警示網絡股票的文章,引起瞭網絡股票價格的大幅下跌,也引起瞭沃倫·巴菲特的關注,這為西格爾帶來瞭進一步研究的動力,並最終促成瞭《投資者的未來》一書的完成。
本書甫一推齣,就引起瞭國內外的熱切關注和研究。
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...
評分(一) 看到这个标题,你可能会认为我在吹牛。 其实我说的都是实话。因为,你若问我明天股市将怎么走,我肯定无法给出确定的答案,但你若问我中长期内股市将怎么走,我会肯定地告诉你,向上,向上,一直上到让你感到超级爽为止。 为什么呢?因为我认真研究过美...
評分刚刚看完《投资者的未来》,写点总结和感想。 股神巴菲特一直宣称,股票投资的奥秘其实非常简单,那就是“寻找被市场低估的好公司”。这一流变,传承自他老师格雷厄姆的“价值投资”。 但在中国,宣称“价值投资”的一派,似乎只重视寻找好公司,而忘记了市场估值。“好股...
評分杰里米·西格尔为我们完成了一项杰出的工作。尽管没有人可以准确预知股票的未来,但西格尔的分析无疑为历史做出了裁断:长期持有胜过迅速换手,投资胜过投机,建设胜过赌博。有力的结论、出色的文笔以及令人耳目一新的观点使得这本书成为一本重要的必读经典。 杰里米...
評分有很好的數據
评分耐心的投資者買的是價值而不是宣傳。
评分從觀點的角度來說,這是一本典型的“從後視鏡裏看未來的”,犯著“幸存者偏差”謬誤的,充溢著濃濃的24K金狗屎味的爛書。另外大量學術研究錶明高分紅提供的超額迴報是小於低估值的。但總體來說很多數據都非常有用。譬如對增長的理性期望,截至2003年,過去50多年錶現最好的20傢標普500企業每年EPS增長9.7%,分紅3.4%,加起來13.1%;而標普的平均迴報6.08%,分紅3.27%,加起來9.35%。就算是成長天王菲利普莫裏斯,平均年化EPS增長也隻有14.75%。期望長期高於這樣的增長,是不切實際的。由於寫在科技泡沫破滅之後,因此其中有些例子深切刻畫瞭股市的鍾擺效應,比如1999年每股300的AKAM,2002年卻可以用70分買到,持股到現在也已經是100倍迴報瞭。越被痛恨的股票堆裏越有機會。
评分2008.09.10- 2008.10.03 Dividend + Consumer Staples
评分耐心的投資者買的是價值而不是宣傳。
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