Free Cash Flow and Shareholder Yield: New Priorities for the Global Investor
Book • 2007
This book provides a comprehensive analysis of the present equity market and the forces that determine its future value.
It introduces the concept of Shareholder Yield, a method of gauging investment opportunities by the magnitude of free cash flow generated by a company and how it is deployed.
The authors explain how traditional investment metrics like the P/E ratio are being eclipsed by a free cash flow-based approach, and how this strategy can reduce risk and enhance returns in the face of globalization, rising interest rates, and deflating asset bubbles.
It introduces the concept of Shareholder Yield, a method of gauging investment opportunities by the magnitude of free cash flow generated by a company and how it is deployed.
The authors explain how traditional investment metrics like the P/E ratio are being eclipsed by a free cash flow-based approach, and how this strategy can reduce risk and enhance returns in the face of globalization, rising interest rates, and deflating asset bubbles.
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