McGraw-Hill, 2009, [Equity Investing] Grade 4
Forecasting is hard. Skilled financial forecasting with inadequate tools is even harder. This book supplies the tools; that is, it supplies the structure of the Excel-designs used to try to model a company’s financial future and the DCF used to assess its intrinsic value. John Tjia for a very... Further reading... Link to Amazon...
Free Press 2007, [Equity Investing], Grade 4
Recently, there was an article about Chinese IPOs in a Shanghai newspaper. The writer spoke to Yan Ding, head of Ceibs Research Center in Shanghai about the merits of investing in the avalanche of IPOs coming the market’s way this year. “If somebody asks me whether to invest... Further reading... Link to Amazon...
Portfolio Penguin, 2012 [Equity Investing] Grade 3
Last month, one of the most influential business journalists of our time decided it was time to hang up the pen. Carol J. Loomis, the longest-tenured journalist ever at Fortune Magazine (60 years!) was recently described as the business writer combination of Cal Ripken Jr (durability... Further reading... Link to Amazon...
John Wiley & Sons, 2012, [Equity Investing] Grade 4
The mind constantly plays tricks with investors. In a stressful - potentially loss-making - situation the negative pressure risks short-circuiting our analytical ability and when looking at new investments greed makes the investor susceptible to buying into management’s song and... Further reading... Link to Amazon...
Palgrave Macmillan 2014, [Equity Investing], Grade 5
“Hang out with people better than you, and you cannot help but improve”. This book by one of the most prolific second-generation Buffetteers is about building the appropriate investment foundation, about setting up the right environment, about the triumphs of an inner scorecard... Further reading... Link to Amazon...
John Wiley & Sons, 2014, [Equity Investing] Grade 4
In a capitalistic economy with free market entry new competition will ensure that any existing company’s surplus financial returns will evaporate over time. That is, unless there is something that interferes and protects the incumbents from new competition. Few have spent more time... Further Reading... Link to Amazon...
BN Publishing, 2009, [Equity Investing] Grade 4
As a book these 100 pages is a triviality. It contains four speeches for MBA students made by Warren Buffett between 1998 and 2005. On the other hand the content of the talks are far from trivial, even if the mundane language of Buffet could mask the importance of what is being said. Further reading... Link to Amazon...
Wiley & Sons, 2007, [Equity Investing] Grade 5
Reading this book in 2007, it had an immense impact on my thinking. The gravitating pull from valuations in a range-bound market – one of the book’s core ideas – nicely interlinked with the identification of great franchises. Active Value Investing also hit home in a few other ways... Further reading... Link to Amazon...
McGraw-Hill, 1984 1st ed, [Equity Investing] Grade 5
Some strands of value investing are relatively quantative in their focus on the replacement cost of balance sheet items etc. A growth investor invests in the unknowable future of a company. In some respects growth investing then is more of an art form where some forms of value investing... Further reading... Link to Amazon...
John Wiley & Sons, 2010, [Equity Investing] Grade 3
The ever-changing technology sector is tricky to cover in a text with long duration like a book. The authors, at the time employees at California based Fisher Investments, handle the reasonably task well. Today’s trendy topics such as Social, Big Data and Mobile aren’t covered as they... Further reading... Link to Amazon...
John Wiley & Sons, 2008, [Equity Investing] Grade 3
To some, activists are a flock of locusts destroying all what comes in their way. Others see them as champions of the rights of owners and slayers of corporate waste and inefficiency. In 2000 Financial journalist Ronald Orol got assigned to the task of scanning the... Further reading... Link to Amazon...
John Wiley & Sons, 2005, [Equity Investing] Grade 3
No matter how much you research the stocks you invest in there are always some that know the companies even better: the management. Imagine if you could employ them part time to work for you. In a way you can. George Muzea has spent the main part of his 40-year career in the... Further reading... Link to Amazon...
John Wiley & Sons, 2012, [Equity Investing] Grade 3
Hilary Kramer, editor of two investment letters and previous hedge fund manager and equity analyst at Morgan Stanley and Lehman here shares her hard earned insights from 25 years of small cap investing. Her starting point is that of a contrarian searching for beaten down and unloved stocks that... Further reading... Link to Amazon...
John Wiley & Sons, 2010, [Equity Investing] Grade 5
This is an almost epic tale of a clash between a blunt, stubborn-as-a-mule hedge fund manager with a fierce sense of justice called Bill Ackman and MBIA, the largest municipal bond insurer in the United States with a tough CEO named Jay Brown. It’s also a story of lazy... Further reading... Link to Amazon...
Scribner, 2008, [Equity Investing] Grade 4
The authors have written several books on Warren Buffett’s investment approach. The “Buffettology” books are the more well known. The title of this book is inspired by Ben Graham’s seminal book on the subject of using financial statements to find undervalued stocks. What makes this book... Further reading... Link to Amazon...
Templeton Foundation Press, 2004, [Equity Investing] Grade 3
When you hear the name “Sir John Templeton”, what is the first thought that shoots into your head? The pioneering global investor? The prayers before investment meetings as a symbol for getting the right mindset to think? The Bahamas? His frugality? The immortal... Further reading... Link to Amazon...
John Wiley & Sons, 2012, [Equity Investing] Grade 3
In his first book, The Billion Dollar Mistake, the author, public speaker and investor Stephen L. Weiss wrote about the biggest mistakes of some of the world’s legendary investors. This previous book described events where they lost billions of dollars on a single investment. That was something... Further reading... Link to Amazon...
Harper Business, 2000, [Equity Investing] Grade 5
Strikingly often successful investors have had other successful investors as their mentors and you often hear them tell the tale of how they came to realize the insights from Ben Graham, George Soros, Jesse Livermore etc. Since very few are privileged enough to work for... Further reading... Link to Amazon...
Fireside, 1997, [Equity Investing] Grade 5
With this his first book, superstar investor Joel Greenblatt tried to bring the process that gave him his early success to the general public. Even though the author is broad within his niche - special situations - the area in itself is specialized and also highly labor intensive making the venture doomed... Further reading... Link to Amazon...
John Wiley, 2013, [Equity Investing] Grade 5
This book is a result from John Mihaljevic’s many projects, for example the websites Manual of Ideas and Valueconferences plus his investment firm, Mihaljevic Capital Management LL., and all of these are in their turn the result of his effort to answer a question he put to... Further reading... Link to Amazon...
