Active Investing in the Age of Disruption. Evan L. Jones
by decile 1998 to 2018; ...FIGURE 6.2 Five-year 1,000 bps excess return performance scenario
7 Chapter 8FIGURE 8.1 US Oil Services index 1997 to October 2019FIGURE 8.2 Management and company size
8 Chapter 9FIGURE 9.1 Predictive power of valuation over time 1987 to June 2019FIGURE 9.2 Nike three-year return on equity 2010 to October 2019FIGURE 9.3 Nike owner's cash flow yield analysisFIGURE 9.4 Equity risk premium and ten-year Treasury 2000 to October 2019FIGURE 9.5 Nike equity price and price target channel 2008 to October 2019FIGURE 9.6 Nike equity price and price target channel plus EV/EBITDA multipl...
9 Chapter 10FIGURE 10.1 Number of M&A transactions and number of US publicly listed comp...FIGURE 10.2 S&P 500 trailing 12-month net stock buyback activity 1998 to Oct...
10 Chapter 11FIGURE 11.1 Concentration, risk, and alpha analysisFIGURE 11.2 Diversification, alpha, volatility, and win/loss relationshipsFIGURE 11.3 Exposure limit structureFIGURE 11.4 Historic volatility of S&P 500, Johnson & Johnson, Goldm...FIGURE 11.5 Portfolio net asset value structure
11 Chapter 12FIGURE 12.1 Russell 3000 drawdowns by month 2009 to October 2019FIGURE 12.2 Long 3% NAV monthly rebalance as stock drops and then recovers e...FIGURE 12.3 Short 3% NAV adding exposure on the way up exampleFIGURE 12.4 Short 3% NAV monthly rebalance as stock drops and then recovers ...FIGURE 12.5 Abercrombie & Fitch (ANF) short example 2009 to Q3 2019FIGURE 12.6 Russell 3000 price/sales multiples by decile
Guide
1 Cover
2 Table of Contents
Pages
1 iii
2 iv
3 vii
4 ix
5 xi
6 xii
7 xiii
8 xiv
9 1
10 3
11 4
12 5
13 6
14 7
15 8
16 9
17 10
18 11
19 12
20 13
21 14
22 15
23 16
24 17
25 18
26 19
27 20
28 21
29 22
30 23
31 24
32 25
33 26
34 27
35 28
36 29
37 30
38 31
39 32
40 33
41 34
42 35
43 36
44 37
45 38
46 39
47 40
48 41
49 42
50