New Era
Value Investing: A Disciplined Approach to Buying
Value and Growth Stocks
By Nancy Tengler
A unique guide that combines the best of traditional
value theory with an innovative approach to assessing
value in low or non-dividend paying stocks
In the 1990s, America's focus on productivity and innovation led to huge gains in technology, communication, and healthcare stocks, and contributed to the transformation of the U.S. stock market from a
value (dividend-paying orientation) to a growth (nondividend-paying) bias. During this time, forward thinking
value managers began to develop analytical tools for valuing nondividend paying stocks. These tools allowed them to evaluate and identify the best
investments in both traditional and nontraditional
value sectors. At the forefront of this movement was author Nancy Tengler who, along with Noel DeDora, developed "Relative Value Discipline," an approach-which combines two proven methods for valuing growth stocks: Relative Dividend Yield and Relative-to-Price Sales. The combination of these approaches allows individuals to
invest across the
investment universe regardless of dividend policies. New Era
Value Investing introduces the proven method known as Relative Value Discipline by combining the excitement of developing a new
investment discipline with the lessons learned through the application of this new methodology in the real world. In addition to providing an insider's look at an
investment manager's experience in adopting a new
investment approach, this book creates a context for understanding the transformation of the U.S. economy, and offers expert insights beyond those of traditional
value theory.
Nancy Tengler (San Francisco, CA) is President and Chief
Investment Officer of Fremont
Investment Advisors. She is coauthor of Relative Dividend Yield: Common Stock
Investing for Income and Appreciation (Wiley: 0-471-53652-0). She has appeared on numerous
financial radio and television programs, including CNN/fn and is frequently quoted in
financial publications such as The Wall Street Journal.
Value investing books
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