The Condition Assessment Scheme (CAS) for oil tankers was adopted in 2001 and is applicable to all single-hull tankers of 15 years or older. Although the CAS does not specify structural standards in excess of the provisions of other IMO conventions, codes and recommendations, its requirements stipulate more stringent and transparent verification of the reported structural condition of the ship and that documentary and survey procedures have been properly carried out and completed. The Scheme requires that compliance with the CAS is assessed during the Enhanced Survey Program of Inspections concurrent with intermediate or renewal surveys currently required by resolution A.744(18), as amended.--Publisher's description.
Peter Cundill, a philanthropist and investor whose work has been praised by the likes of Warren Buffett, found his life changed forever when he discovered the value investment principles of Benjamin Graham and began to put them into action. There's Always Something to Do tells the story of Cundill's voyage of discovery, with all its ups and downs, as he developed his immensely successful investment strategies.
Deep insight and candid discussion from one of Wall Street's best investors Common Stocks and Common Sense provides detailed insight into common stock investing, using a case-study approach based on real-world investments. Author Edgar Wachenheim is the 28-year CEO of Greenhaven Associates, boasting an average annual portfolio comparable to Warren Buffet's. In this book, he shares his knowledge and experiences by providing detailed analyses of actual investments made by himself and other investors. The discussion covers the entire investment process, including the softer, human side, with candid insight into the joys and frustrations, intensities and pressures, and risks and uncertainties. The unique emphasis on behavioral economics and real-world cases set this book apart from the herd—but it's Wachenheim himself and his deeply-examined perspective that elevates the book beyond a mere investing guide. Between 1990 and 2014, a typical portfolio managed by Wachenheim enjoyed an average annual return in excess of 18%, achieved using relatively conservative stocks and no financial leverage. As a proponent of evidence and example, his analysis of real cases serve as a valuable education for anyone looking to improve their own investment practices. Understand investment through the lens of a Wall Street leader Dig into the details of real-world common stock investing Learn how to invest creatively and minimize risk Go beyond theory to study strategy on a case-by-case basis Investment principles and strategies are easy to find—entire libraries have been written about theories and methods and what 'should' happen. But this book goes beyond the typical guide to show you how these ideas are applied in the real world—and what actually happened. Investors seeking real insight, real expertise, and a proven track record will find Common Stocks and Common Sense a uniquely useful resource.
The new paradigm for investing and building wealth in the twenty-first century. The Future for Investors reveals new strategies that take advantage of the dramatic changes and opportunities that will appear in world markets. Jeremy Siegel, one of the world’s top investing experts, has taken a long, hard, and in-depth look at the market and the stocks that investors should acquire to build long-term wealth. His surprising finding is that the new technologies, expanding industries, and fast-growing countries that stockholders relentlessly seek in the market often lead to poor returns. In fact, growth itself can be an investment trap, luring investors into overpriced stocks and overly competitive industries. The Future for Investors shatters conventional wisdom and provides a framework for picking stocks that will be long-term winners. While technological innovation spurs economic growth, it has not been kind to investors. Instead, companies that have marketed tried-and-true products for decades in slow-growth or even declining industries have superior returns to firms that develop “the bold and the new.” Industry sectors many regard as dinosaurs—railroads and oil companies, for example—have actually beat the market. Professor Siegel presents these strategies within the context of the coming shift in global economic power and the demographic age wave that will sweep the United States, Europe, and Japan. Contrary to the popular belief that these economic and demographic trends doom investors to poor returns, Professor Siegel explains the True New Economy and how to take advantage of the coming surge in invention, discovery, and economic growth. The faster the world changes, the more important it is for investors to heed the lessons of the past and find the tried-and-true companies that can help you beat the market and prosper in the years ahead.
A practical guide to making more informed investment decisions Investors often buy or sell stocks too quickly. When you base your purchase decisions on isolated facts and don't take the time to thoroughly understand the businesses you are buying, stock-price swings and third-party opinion can lead to costly investment mistakes. Your decision making at this point becomes dangerous because it is dominated by emotions. The Investment Checklist has been designed to help you develop an in-depth research process, from generating and researching investment ideas to assessing the quality of a business and its management team. The purpose of The Investment Checklist is to help you implement a principled investing strategy through a series of checklists. In it, a thorough and comprehensive research process is made simpler through the use of straightforward checklists that will allow you to identify quality investment opportunities. Each chapter contains detailed demonstrations of how and where to find the information necessary to answer fundamental questions about investment opportunities. Real-world examples of how investment managers and CEOs apply these universal principles are also included and help bring the concepts to life. These checklists will help you consider a fuller range of possibilities in your investment strategy, enhance your ability to value your investments by giving you a holistic view of the business and each of its moving parts, identify the risks you are taking, and much more. Offers valuable insights into one of the most important aspects of successful investing, in-depth research Written in an accessible style that allows aspiring investors to easily understand and apply the concepts covered Discusses how to think through your investment decisions more carefully With The Investment Checklist, you'll quickly be able to ascertain how well you understand your investments by the questions you are able to answer, or not answer, without making the costly mistakes that usually hinder other investors.
This book deals with ship design and in particular with methodologies of the preliminary design of ships. The book is complemented by a basic bibliography and five appendices with useful updated charts for the selection of the main dimensions and other basic characteristics of different types of ships (Appendix A), the determination of hull form from the data of systematic hull form series (Appendix B), the detailed description of the relational method for the preliminary estimation of ship weights (Appendix C), a brief review of the historical evolution of shipbuilding science and technology from the prehistoric era to date (Appendix D) and finally a historical review of regulatory developments of ship's damage stability to date (Appendix E). The book can be used as textbook for ship design courses or as additional reading for university or college students of naval architecture courses and related disciplines; it may also serve as a reference book for naval architects, practicing engineers of related disciplines and ship officers, who like to enter the ship design field systematically or to use practical methodologies for the estimation of ship's main dimensions and of other ship main properties and elements of ship design.
Says Bill Ackman of Pershing Square Capital Management about The Art of Value Investing: "I learned the investment business largely from the work and thinking of other investors. The Art of Value Investing is a thoughtfully organized compilation of some of the best investment insights I have ever read. Read this book with care. It will be one of the highest-return investments you will ever make." Based on interviews with the world's most-successful value investors, The Art of Value Investing offers a comprehensive set of answers to the questions every equity money manager should have thought through clearly before holding himself or herself out as a worthy steward of other people's money. What market inefficiencies will I try to exploit? How will I generate ideas? What will be my geographic focus? What analytical edge will I hope to have? What valuation methodologies will I use? What time horizon will I typically employ? How many stocks will I own? How specifically will I decide to buy or sell? Will I hedge, and how? How will I keep my emotions from getting the best of me? Who should read The Art of Value Investing? It is as vital a resource for the just starting out investor as for the sophisticated professional one. The former will find a comprehensive guidebook for defining a sound investment strategy from A-to-Z; the latter will find all aspects of his or her existing practice challenged or reconfirmed by the provocative thinking of their most-successful peers. It also is a must read for any investor – institutional or individual – charged with choosing the best managers for the money they are allocating to equities. Choosing the right managers requires knowing all the right questions to ask as well as the answers worthy of respect and attention – both of which are delivered in The Art of Value Investing.
In a multi-million dollar industry such as shipping even small currency fluctuations can have significant effects on investments. Further factors such as commodities i.e. steel, oil and gas and their consistancy of supply add to the risks in this highly capital intensive industry.
Environmental, Social, and Governance (ESG) Investing: A Balanced Analysis of the Theory and Practice of a Sustainable Portfolio presents a balanced, thorough analysis of ESG factors as they are incorporated into the investment process. An estimated 25% of all new investments are in ESG funds, with a global total of $23 trillion and the U.S. accounting for almost $9 trillion. Many advocate the sustainability goals promoted by ESG, while others prefer to maximize returns and spend their earnings on social causes. The core problem facing those who want to promote sustainability goals is to define sustainability investing and measure its returns. This book examines theories and their practical implications, illuminating issues that other books leave in the shadows. - Provides a dispassionate examination of ESG investing - Presents the historical arguments for maximizing returns and competing theories to support an ESG approach - Reviews case studies of empirical evidence about relative returns of both traditional and ESG investment approaches
A humorous and keen look at the roller-coaster boom and bust of the 1960s and 1970s by the New York Times–bestselling author of Business Adventures John Brooks blends humor and astute analysis in this tale of the staggering “go-go” growth of the 1960s stock market and the ensuing crashes of the 1970s. Swiftly rising stocks promised fast money to investors, and voracious cupidity drove the market. But the bull market couldn’t last forever, and the fall was just as staggering as the ascent. Including the astounding story of H. Ross Perot’s loss of $450 million in one day; the tale of America’s “Last Gatsby,” Eddie Gilbert; and the account of financier Saul Steinberg’s failed grab for Chemical Bank, this book is replete with hallmark financial acumen and vivid storytelling. A classic of business history, The Go-Go Years provides John Brooks’s signature insight into the events of yesteryear and stands the test of time.
