Table Of Contents:
Preface ix

PART ONE: UNCOVERING THE GROWTH TRAP

The Growth Trap 3(15)

Creative Destruction or Destruction of the Creative? 18(15)

The Tried and True: Finding Corporate El Dorados 33(17)

Growth Is Not Return: The Trap of Investing in High-Growth Sectors 50(21)

PART TWO: OVERVALUING THE VERY NEW

The Bubble Trap: How to Spot and Avoid Market Euphoria 71(13)

Investing in the Newest of the New: Initial Public Offerings 84(18)

Capital Pigs: Technology as Productivity Creator and Value Destroyer 102(11)

Productivity and Profits: Winning Managements in Losing Industries 113(12)

PART THREE: SOURCES OF SHAREHOLDER VALUE

Show Me the Money: Dividends, Stock Returns, and Corporate Governance 125(14)

Reinvested Dividends: The Bear Market Protector and Return Accelerator 139(16)

Earnings: The Basic Source of Shareholder Returns 155(14)

PART FOUR: THE AGING CRISIS AND THE COMING SHIFT IN GLOBAL ECONOMIC POWER

Is the Past Prologue? The Past and Future Case for Stocks 169(10)

The Future That Cannot Be Changed: The Coming Age Wave 179(14)

Conquering the Age Wave: Which Policies Will Work and Which Won't 193(10)

The Global Solution: The True New Economy 203(22)

PART FIVE: PORTFOLIO STRATEGIES

Global Markets and the World Portfolio 225(16)

Strategies for the Future: The D-I-V Directives 241(16)
Appendix: The Complete Corporate History and Returns of the Original S&P 500 Firms 257(36)
Notes 293(14)
Acknowledgments 307(2)
Index 309