Relative Dividend Yield: Common Stock Investing for Income and Appreciation

Global economic variables, unpredictable interest rates, stock market fluctuations–in today′s volatile international business climate, corporate managers can no longer rely directly on quarterly earnings and P/E multiples as definitive measurements of their corporation′s financial stability. While many companies are speculating, borrowing, and trading furiously, there is one investment philosophy that can reward you with higher–than–market returns at less–than–market risk.

The Relative Dividend Yield (RDY) buy–sell discipline is a little known, but well–respected strategy that thousands of investors and corporations have used to base their financial decisions on the reliable principle of historic yields. Expert investors Anthony Spare and Paul Ciotti demonstrate the approach that has outperformed the market for more than fifteen years, without the market risk. This comprehensive book covers all aspects of investing and money management, while providing you with the proven advice you need to calmly navigate the rough waters of investing. In addition, Relative Dividend Yield, Second Edition has been updated to help you:
∗ Compare RDY with other investment methods such as venture capital, emerging growth, large growth, technicalanalysis, and sector rotators
∗ Manage even the largest portfolios with confidence
∗ Learn about RDY valuations, including ;consumer stocks, industrial stocks, utilities, and cyclical stocks
∗ Avoid pitfalls and take preventive measures by maintaining a safe dividend level, using a straightforward analytical process, and focusing on quality companies
∗ Ascertain the primary characteristics ofRDY stock portfolios and find out the connection between RDY and market timing

With an exercise on Dow Jones stock selecting included, you owe it to yourself to find out why RDY is one of the best–kept secrets in investing today. Relative Dividend Yield is an essential tool for investors looking for solid investment ideas.

Introduction to RDY Investments.

Other Investment Methods.

Proof that RDY Works: A Study of 100 Large Companies from 1976 to 1993.

The RDY Approach in Practice.

More Examples of RDY Valuations.

Pitfalls and Preventative Measures.

RDY–Based Portfolio Characteristics, Construction, and Maintenance.

Having Others Invest for You and Investing in Other Countries.

Investing for Yourself.

Conclusion.

Appendices.

Appendices.

Acknowledgments.

Index.

ANTHONY E. SPARE is Chairman and Chief Investment Officer of the San Francisco investment portfolio management firm of Spare, Kaplan, Bischel & Associates. Previously, he was Director of Research and Chief Investment Officer of the Bank of California′s Merus Capital Management Group. Mr. Spare holds an undergraduate degree from Tufts University and an MBA from Stanford University Graduate School of Business.