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Stay ahead of the equity markets with a timeless approach to portfolio management "Epoch Perspectives" is a master class with a pioneer in the free cash flow school of portfolio management. Written by the founder of Epoch Investment Partners, this book gives you an inside look at the group's investment methodology and lessons learned over the turbulent 2004-2014 period. You'll learn the practical applications of the free cash flow framework, and examine historical equity market returns to evaluate the superiority of the techniques discussed over traditional methods derived from accounting-based measures. The discussion includes an observation of the market's contrariness and the mitigating measures and mistakes that result, as well as the free cash flow framework's stock selection methodology and how it identifies high performers while shedding light on the weaknesses of other companies. The past decade's massive financial market changes are examined with an eye toward the coming unwinding of quantitative easing, and how the free cash flow approach will be critical in successful equity portfolio management.Free cash flow has supplanted and replaced traditional accounting-based earnings per share as a more comprehensive and realistic measure of economic profit. This book provides expert insight and robust strategies for sustainable equity portfolio management. Understand and apply the free cash flow framework Learn the equity market cycles and key macroeconomic themes Examine the impact of the financial markets' tectonic shifts Evaluate various bank-led global economic rescue measuresEpoch's free cash flow framework is a refinement of the timeless valuation technique of discounting companies' free cash flows, and it will gain even more currency in the next decade due to the changing nature of equity market returns. "Epoch Perspectives" helps you get out in front of the market with a workable guide to free cash flow and insider perspective on the future of equity returns.
