Business Of Value Investing : Six Essential Elements to Buying Companies Like Warren Buffett
By: Gad, Sham (Author).
John Wiley and Sons Ltd. Published: 28/10/2009. Audience Guide: Professional & Vocational.
Hardback. Sourced from U.S.A.
Somewhat controversially, Gad makes the point that value and growth investing are much more similar than most investors think -- value investors look for growth in the companies in which they invest. He then walks readers through the pitfalls that most investors fall victim too -- most of which involve not really understanding the margin of safety and how it is applied. Gad sets the stage by presenting the core value framework for beginning to advanced investors and money managers. With the backdrop of evaluating businesses (and not stocks), "The Business of Value Investing" introduces a blueprint to successful value investing with a focus on six key Buffett strategies. These essential points are presented and backed up with real-world case studies. Item Details
ISBN10/13: 0470444487/9780470444481
TITLE: Business of Value Investing, The
CONTRIBUTORS: Gad, Sham (Author)
IMPRINT: John Wiley & Sons Ltd
PUBLISHER: John Wiley and Sons Ltd
FORMAT: Hardback
PUBLICATION DATE: 28/10/2009
SUBJECT: Business, Industry & Management, Investment & Securities
PAGES: 240
AUDIENCE GUIDE: Professional & Vocational
CONTENTS: Foreword. Acknowledgments. Introduction. Chapter One Invest in the Business, Buy the Stock. Stock Prices are More Noise than Information. A Businesslike Approach to Valuing the Business. The Making of a Legend. A Simple Idea, Really. Chapter Two The Only Three Types of Investments You Need to Know. Stocks Prices Aren't Always Rational. The Business Side of Investing. Three Buckets: Undervalued, Overvalued, and Fairly Valued. Price Determines Value. Key Takeaways. Chapter Three The Six Elements of Intelligent Investing. All Investing is Value Investing. Learn From the Masters. The Sum of Its Parts: A Fundamental Framework. A Mental Latticework. Overview of the Six Elements. Emphasize the Process, Not the Outcome. Key Takeaways. Chapter Four Establish a Sound Investment Philosophy. The First Element. Preservation of Capital is the Name of the Game. Price Paid Determines Value Received. The Starting Point Matters. Avoid Using Margin. Focus on Absolute Returns. Key Takeaways. Chapter Five Develop a Search Strategy. The Second Element. Ignore the Media. Imitation is Sincerest Form of Flattery. Basic Search Strategies. Advanced Search Strategy. Key Takeaways. Chapter Six Effective Business Valuation. The Third Element. Value Investing 101: Margin of Safety. Value Investing 201: Intrinsic Value. Value Investing 301: Seek Businesses with a Wide Moat. Value Investing 401: Calculating a True Intrinsic Value. The Value of Management. Understanding Return on Equity: Microsoft Corporation. Key Takeaways. Chapter Seven Have the Discipline to Say No. The Fourth Element. In Investing, Discipline is Everything. Discipline Affects the Price Paid Which Determines the Value You Get. Be Prepared to Look Stupid. Don't Split Hairs. Unveiling Investor A: Warren Buffett. Discipline is Simple, but Rarely Easy. Key Takeaways. Chapter Eight Practicing the Art of Patience. The Fifth Element. Swimming Against the Current. The Benefits of Waiting for a Good Pitch. Ignorance Can Be Bliss. The Benefits of a Buy and Hold Approach. Conservative Tests of Safety a Must. Key Takeaways. Chapter Nine Invest Significantly at the Maximum Point of Pessimism. The Sixth Element. Putting It All Together. Pessimism Leads to Value. Avoid that Which Is Most Valuable. Remain Flexible in the Approach. All or Nothing. Key Takeaways. Chapter Ten More Than One Way to Find Value. Case Studies Showing the Approach at Work. A Reminder: Process First, Outcome Second. Case Study #1: Finding Value in an Unloved Industry. Sunrise Senior Living (SRZ). Case Study #2: Money Machine South of the Border. Ternium Steel. Case Study #3: A Tale of Two Shares. Mueller Water Products. Fertile Hunting Ground. Conclusion. Key Takeaways. Chapter Eleven Avoiding Common Stumbling Blocks. Growth and Value: Two Sides of the Same Coin. Book Value: More Than Meets the Eye. What Matters Most. Key Takeaways. Chapter Twelve Starting an Investment Partnership. Two Key Considerations. Service Providers. Notes. About the Author. Index.
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