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The Little Book of Value Investing: 6 Hardcover – 11 September 2006
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"sharply written...gets you fired up about buying stocks" (USA Today, December 4, 2006)
"If you are a value investor by temperament, you will (or should) find a lot that is persuasive in what Christopher Browne has to say about the craft of value investing in a delightful new book out this autumn...It is nicely written and utterly persuasive if long-term investment success is what you are after and your temperament is equipped to handle the psychological pressures of making non-consensus investments." (The Independent, November 2006)
"elegant new treatise on the art of value investing. . ." (Financial Times (UK), October 30, 2006)
"...easily digestible and shortish treatise for anyone who wants to try out this particular investment strategy". (The Wall Street Journal, October 10, 2006)
"After 37 years of practicing what Graham preached, Browne has distilled the creed into a disarmingly chatty primer. . ." (Bloomberg)
"one of the best guidebooks toward protecting and growing a retirement nest egg. This advice comes from a legend of value investing, and it’s presented with enough clarity that anyone can follow it." (Forbes.com)
From the Inside Flap
Do you care about your money? Then spend a little time with Christopher Browne to understand what investing is all about so you can do a better job of investing.
There are many ways to make money in today's market, but the one strategy that has truly proven itself over the years is value investing. Value investing consists of buying the stock of companies that trade for less than their intrinsic value to profit from their long-term performance. Value investing works. It has produced superior investment results to any other strategy. Best of all, it is easy to understand. As Warren Buffett has said, no more than 125 IQ points are needed. Any more and they are wasted.
Author Christopher Browne has been a part of Tweedy, Browne Companythe oldest value investing firm on Wall Street, which has counted Benjamin Graham among its clientsfor more than thirty years, and over the course of his career, he has successfully followed the value approach to investment management, buying bargain stocks around the world.
Now, with The Little Book of Value Investing, he translates this wealth-building strategy in a way that any investor can understand and apply to investing all over the globe. You will learn how to buy stocks like steakson saleno matter where they are sold; how to put your money to work like a banker; and how to buy $1 for 66 cents. Browne's ideas can help prevent you from losing money by spotting false bargains. Most importantly, he clearly illuminates the first rule of investing: don't lose money.
The beauty of value investing is its logical simplicity. Within these pages, high-caliber value manager Christopher Browne illustrates how to identify the "sales flyers," the market offers to profit, while avoiding bubbles and manias. This little book is a treasure trove of insight. In addition to teaching you how to uncover value stocks, you'll also learn how to:
- Give the companies you invest in a physical
- Send your stocks to the Mayo Clinic for a checkup with a sixteen-point checklist
- Find a specialist
- Stay the course and stay away from fleeting fads
Written in a straightforward and engaging manner, The Little Book of Value Investing will help you to understand and implement one of the most effective investment strategies ever created.
- Language : English
- Hardcover : 208 pages
- ISBN-10 : 0470055898
- ISBN-13 : 978-0470055892
- Best Sellers Rank: 34,033 in Books (See Top 100 in Books)
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Top reviews from other countries
reading this book; you won't become a stock market guru overnight, however you will learn a hell of a lot and may even be swayed by value investing as a methodology going forward.
Would reccomend to anyone and everyone, but you may need a tiny bit of knowedge on financial terms.
What I liked about the book is that everything is explained really clearly and you come away the "I get it feeling" This is useful for the beginner and and a little further reading on the internet and you will be wel on the way.
Yes, that is exactly what makes this such a pleasurable and valuable read plus an easily learnt education in the basic concepts of value investing and the skillset needed which the writer believes anybody with general investment awareness can apply. As the author states several times it is ultimately one of patience and accepting that this is a long term investment approach with "lumpy" performance in realising steady profits rather than graph like upward trends or "star manager" short term approaches and the related volatility they carry, given how the market values shares before recognising their true value by re-rating or being the subject of a bid.
The author has been a value based investor for nearly 40 years and is a partner in a successful US firm Tweedy Browne that only follows this approach. While some of the examples may seem likely to recur easily again (the more conservative accounting followed in certain non-US jurisdictions and the undervalue that produces) there is enough that is still current and valid to make this little tome a very valuable reference work for using by many amateurs like myself. Its mix of matter of fact examples and non-technical jargon make it a real and valuable find.