is an equity research analyst at Fisher Investments, focusing on the Global Technology sector. He is also a contributing columnist for MarketMinder.com. Erne received a BA in finance from Washington State University. Prior to joining Fisher Investments, he worked as a financial advisor for Ameriprise Financial in Bellevue, Washington. Originally from Redmond, Washington, Erne currently resides in San Francisco.
Andrew S. Teufel has been with Fisher Investments since 1995, where he currently serves as a Co-President and the Director of Research. Prior to joining Fisher Investments, he worked at Bear Stearns as a corporate finance analyst in its Global Technology Group. Teufel 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 the Editor in Chief of MarketMinder.com. Teufel is a graduate of UC Berkeley.
Part I Getting Started in Technology.
Chapter 1 Technology Basics.
More Than Gadgets . . . A Means.
Starting Small: Semiconductors.
Getting Larger: Products and Components.
Making It All Work: Software and Services.
Chapter 2 A Brief History of Modern Technology.
The Snowball Event: History of Semiconductors.
History of Computers.
History of Communications.
History of the Internet.
Chapter 3 Technology Sector Drivers.
Part II Next Steps: Technology Details.
Chapter 4 Technology Sector Breakdown.
Global Industry Classification Standard (GICS).
Global Technology Benchmarks.
Technology Industry Breakdown Software.
Chapter 5 Challenges in the Information Technology Sector.
Product Maturity and Obsolescence.
Fighting Maturity and Obsolescence.
Extreme Fluctuations in Supply and Demand.
Intellectual Property Threats.
Chapter 6 A Deeper Look at Current and Emerging Technologies.
Semiconductor Production Process.
Emerging Manufacturing Technologies.
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 Technology Benchmark.
Chapter 8 Security Analysis.
Make Your Selection.
A Five-Step Process.
Important Questions to Ask.
Chapter 9 Upgrading Your Portfolio—Investing Strategies.
Strategy 1: Adding Value at the Sector Level.
Strategy 2: Adding Value at the Industry Level.
Strategy 3: Adding Value at the Security Level.
Strategy 4: Adding Value in a Technology Sector Downturn.
Strategy 5: Venture Capital.
About the Author.