- Paperback: 224 pages
- Publisher: McGraw-Hill Professional; 1st McGraw-Hill Pbk. Ed edition (1 Oct 2005)
- Language English
- ISBN-10: 0071463992
- ISBN-13: 978-0071463997
- Product Dimensions: 15.2 x 1.6 x 22.6 cm
- Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)
- Amazon Bestsellers Rank: 776,374 in Books (See Top 100 in Books)
Its Earnings That Count
and over one million other books are available for Amazon Kindle .
Learn more
| ||||||||||||||||||||
 Trade In this Item for up to £2.05
Get an extra £5 when you trade in books worth £10 or more until June 30, 2012. Trade in It's Earnings That Count: Finding Stocks with Earnings Power for Long-Term Profits for an Amazon.co.uk gift card of up to £2.05, which you can then spend on millions of items across the site. Trade-in values may vary (terms apply). Find more products eligible for trade-in.
|
Product details |
More About the Author
Product Description
Product Description
It’s Earnings That Count introduces the Earnings Power Box™— a tool for identifying companies with a wide gap between their accrual performance and earnings. Features include six ratios investors can use to make smarter decisions, techniques for identifying companies poised to outgain the market over the next five to ten years, and more.
From the Back Cover
Praise for It's Earnings That Count:
"Well-written, intellectually sound, 'accessible' to those who take the time to understand, and a poke in the eye to those who abused our capitalistic system and those (pros) who let them get away with it."
--John C. Bogle, Founder and former CEO of The Vanguard Group
"Clear and engaging, Heiserman shows how to easily evaluate a growth company's investment potential for both conservative and aggressive investors. The result? The 'cautiously greedy' investor wins."
--Tom Jacobs, senior analyst for The Motley Fool
"In a single, easy-to-use index, Heiserman captures the essence of growth and value--a most insightful approach to stock picking."
--Charles W. Mulford, professor of accounting at the Georgia Institute of Technology and coauthor of The Financial Numbers Game
"A great addition to the literature! Hewitt Heiserman has crafted an easy-to-read, basic tutorial on avoiding the most common mistakes caused by accounting phony baloney--combined with some age-old investment wisdom. Mandatory for the intermediate investor."
--Kenneth L. Fisher, CEO, Fisher Investments Inc., and Forbes's "Portfolio Strategy" columnist
If recent history has taught anything, it is that published financial reports can be questionable and even misleading to investors looking for solid investment targets. It's Earnings That Count shows you how to look beyond reported figures to find those needle-in-the-haystack companies that possess consistently high-quality earnings growth--the best indicator of a stock's long-term investment potential.
Inside This Book
(Learn More)
Browse and search another edition of this book.
Browse and search another edition of this book.
First Sentence
All investors share a common aspiration: to own a stock that makes a difference. Read the first page
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
All investors share a common aspiration: to own a stock that makes a difference. Read the first page
Explore More
Concordance
Browse Sample PagesConcordance
Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
Suggested Tags from Similar Products(What's this?)Be the first one to add a relevant tag (keyword that's strongly related to this product)
|
What Other Items Do Customers Buy After Viewing This Item?
Customer Reviews
Most Helpful Customer Reviews
2 of 2 people found the following review helpful
Format:Hardcover
This is a great book to show you how to uncover the quality of earnings of companies. This book uses famous companies as examples (such as Enron, Worldcom, Cisco, Dell, Microsoft, The Gap, Tyco, and Wrigley).
Some companies have lots of earnings (i.e. Enron) yet go busts. Heiserman Jr. explains clearly how we, as investors, should have sensed this impending doom. Only if this book has been out before the disaster, many investors would have been saved from losing their hard earned money.
As importantly, Heiserman Jr. shows how to find great companies with consistent quality earnings (i.e Microsoft and Dell) that will multiple your investments.
The methods employed by Heiserman Jr. were calculating "defensive earnings" and "enterprising earnings", and then use these earnings with the reported earnings, to plot the trends of the earnings.
The easiest way to understand and benefit from these methods is to buy this book and read it! I've really enjoyed it and bravo to Heiserman Jr. for writing such a good book!
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
14 reviews
41 of 43 people found the following review helpful
Combine Graham & Economic Value Added in one chart
1 Dec 2003
Format:Hardcover
This book describes a fundamental approach to stock selection. It combines the "margin of safety" approach using free cash flow of Graham with the Economic Value Added (EVA) approach of determining returns in excess of its weighted average cost of capital. The author charts these new Defensive EPS and Enterprising EPS so you can see if they meet a minimum test.
The book is easy to read and the techniques are easy to apply. The author also gives you some extra ratios to help screen out your long term purchase candidates.
It's not a deeply academic book but more of a presentation of practical advice and a proprietary fundamentalist stock selection system that will keep you out of trouble. The author also discusses how to evaluate management and how to evaluate competitive advantange. These chapters were also good.
There are many interesting examples in the book. The book makes it look simple but I'm sure there are many areas in financial statment analysis where you'll be scratching your head to create these new EPS figures. Still, overall the book is great.
John Dunbar
Sugar Land, TX
21 of 23 people found the following review helpful
One of the Best Investment Books Around
22 Jun 2004
Format:Hardcover
Could you have predicted the downfalls of Enron and MCI Worldcomm? Could you have predicted the meteoric rise in Dell? Now you can with the tools Mr. Heiserman provides us in this must read.
Whether you are a beginner or expert, the book gives everyone tools that they can use in their investment approach. First, the book discusses what to look for in companies. Chapters 5 through 7 are my personal favorites. These provide the investor with the structure and format to analyze companies. The premise is that you need three sets of earnings statements to accurately analyze a company. The first is the enterprising income statement that allows you to deetermine if a company can create value for its investors. The second is the defensive income statement that allows you to determine if a company can self fund (does it need to borrow money or can it grow from within). The third is the plain, old income statement (called accrual income statement), which focuses on what was reported. Mr. Heiserman shows you how to chart these earnings to determine if the company you are analzying is the next Dell, Enron, or something in between.
Finally, he explains to the reader a valuation technique (the Croesus Test). This allows the reader to understand and appreciate whether now is the right time to buy.
On a personal note, after reading the book I read an article he wrote regarding Sanderson Farms. He recommended that it be purchased based upon the methodology used in the book.
I then emailed Mr. Heiserman and pointed out that my own valuation techniques showed this company to be overvalued. Surprisingly, Mr. Heiserman is both accesible and generous with his time. He emailed me back several times and almost immediately. Since his article, Sanderson Farms is up an astounding 93% (split adjusted price of $27 at the time of the article). In the meantime, the market has been flat. I guess I was wrong.
In any event, if you are looking for a method that works and an easy to learn format, this book is for you.
9 of 10 people found the following review helpful
Must-Read for Every Investor
17 Dec 2003
Format:Hardcover
It's Earnings that Count should be on every investor's bookshelf. Whether you are a seasoned investor with an extensive background in accounting or just a beginner, this book is a must-read. Hewitt Heiserman effortlessly incorporates Benjamin Graham's defensive and enterprising perspectives into one easy-to-use system to determine a company's true earnings power. While these two methods are well known to the avid investor, Mr. Heiserman presents them in a fresh visual perspective, which through example, empowers the reader to not only learn how to discover the next Microsoft, but also how to avoid the next Enron or WorldCom.
Were these reviews helpful?
Let us know
Listmania!
Look for similar items by category
Look for similar items by subject
Feedback
- Would you like to update product info or give feedback on images?
- I am the Author, and I want to comment on my book.
- I am the Publisher, and I want to comment on this book.
