Table of Contents

Preface.

Acknowledgments.

Part I. Getting Started in Materials.

Chapter 1. Materials Basics.

Materials 101.

Commodity Pricing Basics.

The Production Process.

Chapter 2. A Brief History of Materials.

The Industrial Revolution.

Structural Shifts in Metals Since the Industrial Revolution.

Industrialization of the Emerging Markets.

Chapter 3. Materials Sector Drivers.

Key Drivers.

Drivers at Work.

Case Study: Copper.

Part II. Next Steps: Materials Details.

Chapter 4. Materials Sector Breakdown.

Global Industry Classification Standard (GICS).

Global Materials Benchmarks.

Metals&Mining Industry.

Chemicals.

Construction Materials.

Paper&Forest Products.

Containers&Packaging.

Chapter 5. Staying Current: Tracking Sector Fundamentals.

What to Watch.

Chapter 6. Case Study: The 2003 to 2007 Bull Market in Materials.

The Backdrop.

Demand Growth.

Supply Constraints.

The Growth of Mergers and Acquisitions.

Part III. Thinking Like a Portfolio Manager.

Chapter 7. The Top-Down Method.

Investing Is a Science.

The Top-Down Method.

Top-Down Deconstructed.

Managing Against a Materials Benchmark.

Chapter 8. Security Analysis.

Make Your Selection.

A Five-Step Process.

Important Questions to Ask.

Chapter 9. Materialize Your Portfolio: Investing 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 Materials Sector Downturn.

Strategy 4: Investing In Commodities.

Appendix A: Materials Sector Resources.

Appendix B: Top 10 Materials Firms by Industry.

Notes.

Glossary.

About the Authors.

Index.