11. Asset Liability Mismatch

Chapters in this book

1. Frontmatter i
2. Contents v
3. 1. Principles and More
4. Introduction 3
5. 1. Reasons to Pass Investment Principles 14
6. 2. Main Street Versus Wall Street A Rigged Market? 42
7. 3. Fundamental Analysis in the Digital Age 51
8. 4. Indexing: A Viable Option 63
9. 2. Reasons to Pass
10. Introduction 71
11. 5. Minimum Market Capitalization 82
12. 6. Financial Leverage The Ultimate Killer 89
13. 7. High–Fixed Cost Businesses 100
14. 8. Accounting 107
15. 9. Regulatory Uncertainties 117
16. 10. Corporate Governance 129
17. 11. Asset Liability Mismatch 153
18. 12. Deep Cyclical Companies Near Cycle Peak 164
19. 13. High-Cost Commodity Businesses 178
20. 14. Cash Flow and Earnings Disconnect 187
21. 15. Structurally Declining Businesses 197
22. 16. Obsolescence Risk 205
23. 17. Valuation: A Critical Protector of Capital and Returns 214
24. 18. Lollapalooza Effect 226
25. 3. Reasons to Buy
26. Introduction 235
27. 19. Screening 242
28. 20. Growth Stocks 248
29. 21. Core Characteristics of Successful Investors 257
30. 22. Viable, and Buyable, Investment Opportunities 264
31. 23. Selling Discipline 281
32. Conclusion 287
33. Index 295