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Keith Anderson
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Аннотация
The price-earnings ratio, or P/E, is the most commonly quoted investment statistic, but have you ever considered what it actually means? For most people it's a shorthand way of deciding how highly the market regards a company, with investors prepared to overpay for earnings from a high-P/E 'glamour' stock as opposed to a low-P/E 'value' stock. However, academics have known since 1960 that the opposite is true: value stocks outperform glamour stocks consistently over decades.
A company with a low P/E may have been marked down for no readily apparent reason and thus could represent an attractive value investment for those with the patience to wait while the market re-values it. However, the P/E is a backward-looking measure and just because the company earned £1 per share last year it doesn't necessarily mean it will earn anything like that in the foreseeable future. Or, a low P/E can mean a company is deservedly cheap because it is in financial difficulty – in this case the company is likely to become cheaper yet or even go into administration.
This book is a practical guide to how you can adjust and improve the price-earnings ratio and use it, alongside other financial ratios, to run against the crowd and boost your stock returns.
A company with a low P/E may have been marked down for no readily apparent reason and thus could represent an attractive value investment for those with the patience to wait while the market re-values it. However, the P/E is a backward-looking measure and just because the company earned £1 per share last year it doesn't necessarily mean it will earn anything like that in the foreseeable future. Or, a low P/E can mean a company is deservedly cheap because it is in financial difficulty – in this case the company is likely to become cheaper yet or even go into administration.
This book is a practical guide to how you can adjust and improve the price-earnings ratio and use it, alongside other financial ratios, to run against the crowd and boost your stock returns.
Аннотация
Social media provide an opportunity for congregations to open the doors and windows to their congregational life before people ever step inside. It’s no longer all about “getting your message out” as if people are passively waiting for the latest news from the parish, diocese, or national church. Rather, it’s about creating spaces where meaningful relationships can develop.
Click 2 Save: The Digital Ministry Bible is a practical resource guide for religious leaders who want to enrich and extend their ministries using digital media like Facebook, Twitter, YouTube and church or personal blogs. An ideal companion to Tweet If You ? Jesus: Practicing Church in the Digital Reformation (Morehouse, 2011), Click 2 Save draws on extensive research and practical experience in church and other ministry settings to provide functional, how-to guidance on effectively using social networking sites in the day-to-day context of ministry.
Click 2 Save: The Digital Ministry Bible is a practical resource guide for religious leaders who want to enrich and extend their ministries using digital media like Facebook, Twitter, YouTube and church or personal blogs. An ideal companion to Tweet If You ? Jesus: Practicing Church in the Digital Reformation (Morehouse, 2011), Click 2 Save draws on extensive research and practical experience in church and other ministry settings to provide functional, how-to guidance on effectively using social networking sites in the day-to-day context of ministry.