Greater Expectations: How Investing Differs
from Art Collecting by Peter L. Bernstein xi
Preface xv
Acknowledgments xix
1 The Case for Expectations Investing 1
Active Management: Challenge and Opportunity 4
The Expectations Investing Process 7
The Twilight of Traditional Analysis 8
Essential Ideas 14
Appendix: Earnings Growth and Value Creation 15
Part I Gathering the Tools 17
2 How the Market Values Stocks 19
The Right Expectations