is a Research Analyst at Fisher Investments. Prior to joining Fisher, he worked at Franklin Templeton and Charles Schwab and in the nonprofit sector. Dan received a BA in international affairs at the University of Colorado and an MBA from Georgetown University. He currently lives in San Francisco, California.
Andrew S. Teufel has been with Fisher Investments since 1995 where he currently serves as a Vice Chairman. Prior to joining Fisher Investments, he worked at Bear Stearns as a corporate finance analyst in its Global Technology Group. Andrew also instructs at many seminars and educational workshops throughout the United States and United Kingdom, and has lectured at the Haas School of Business at UC Berkeley. He is also Editor in Chief of MarketMinder.com. Andrew is a graduate of UC Berkeley.
Part I Getting Started in Telecom.
Chapter 1 Telecom Basics.
A Defensive Sector.
A Capital Intensive Sector.
Chapter 2 A Brief History of the Telecom Industry.
The Early Years.
Chapter 3 Telecom Sector Composition.
Global Industry Classification Standard (GICS).
Global Telecom Benchmarks.
Same, Same, but Different.
Part II Next Steps: Telecom Details.
Chapter 4 Telecom Sector Drivers.
Chapter 5 Consumer Demand.
Chapter 6 Challenges and Opportunities.
Advertising & Publishing.
Part III Thinking Like a Portfolio Manager.
Chapter 7 The Top-Down Method.
Investing Is a Science.
Einstein’s Brain and the Stock Market.
The Top-Down Method.
Managing Against a Telecommunications Benchmark.
Chapter 8 Security Analysis.
Make Your Selection.
A Five-Step Process.
Chapter 9 Telecom Investing Strategies.
Strategy 1: Adding Value at the Sector Level.
Strategy 2: Adding Value at the Country or Industry Level.
Strategy 3: Adding Value at the Security Level.
Appendix: Additional Resources.
About the Authors.