|PDF Title :||The Five Rules for Successful Stock Investing|
|Total Page :||387 Pages|
|PDF Size :||46.8 MB|
|PDF Link :||Available|
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The Five Rules for Successful Stock Investing Book
THE TELECOM SECTOR is filled with the kinds of companies we love to hate: They earn a mediocre (and declining) return on capital, economic moats are nonexistent or deteriorating, their future depends on the whims of regulators, and they constantly spend boatloads of money just to stay in place. Even companies that once boasted wide moats, such as those that control the local phone network, face increasing competition from newer players, such as cable and wireless networks.
Because telecom is fraught with risk, we typically look for a large margin of safety before considering any telecom stock. Before 1984, AT&T was one of the world’s most reliable companies. Ma Bell essentially ruled the U.S. telecom world, owning the vast majority of networks needed to provide local and long-distance phone service. The majority of households and businesses had little choice but to send cash monthly, making AT&T shares the proverbial safe haven stock for a generation of investors.
The Five Rules for Successful Stock Investing PDF
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