Provides readers with the tools necessary to understand investment opportunities Fisher Investments on Consumer Discretionary provides the average investor with the tools necessary to understand and analyze investment opportunities within the global Consumer Discretionary sector. Foreword. Preface. Acknowledgments. Part I Getting Started in Consumer Discretionary. Chapter 1 Consumer Discretionary Basics. Consumer Discretionary 101. Getting to Know the Consumer Discretionary Sector. Chapter 2 The History of the Consumer Discretionary Sector. The Earliest American Consumers. The Birth of the Modern Consumer Discretionary Sector. Chapter 3 Consumer Discretionary Sector Drivers. Economic Drivers. Political Drivers. Sentiment Drivers. Part II Next Steps: Consumer Discretionary Details. Chapter 4 Consumer Discretionary Sector Landscape. Global Industry Classification Standard (GICS). Global Consumer Discretionary Benchmarks. Automobiles & Components Industry Group. Retailing Industry Group. Media Industry Group. Consumer Durables & Apparel Industry Group. Consumer Services Industry Group. Chapter 5 Challenges in the Consumer Discretionary Sector. Challenge 1: Growing Profits in Mature Markets. Challenge 2: Managing Volatile Demand. Case Study: Callaway Golf. Chapter 6 Household Debt Myths and Opportunities. Household Debt in Developed Markets Basically a Very Useful Tool. Tremendous Opportunities in Emerging Markets. Case Study: Brazil s Credit Driven Consumption Boom. Part III Thinking Like a Portfolio Manager. Chapter 7 The Top Down Method. Investing Is a Science. Einstein s Brain and the Stock Market. The Top Down Method. Top Down Deconstructed. Managing Against a Consumer Discretionary Benchmark. Chapter 8 Security Analysis. Make Your Selection. A Five Step Process. Important Questions to Ask. Chapter 9 Consumer Discretionary Investment Strategies. Strategy 1: Adding Value at the Industry and Sub Industry Level. Strategy 2: Adding Value at the Security Level. Strategy 3: Adding Value in a Consumer Discretionary Sector Downturn. How to Implement Your Strategy. Notes. About the Authors. Index.