Concentrated Investing: Strategies Of The World's Greatest Concentrated Value Investors Download Free (EPUB, PDF)
Discover the secrets of the world's top concentrated value investors Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors chronicles the virtually unknown—but wildly successful—value investors who have regularly and spectacularly blown away the results of even the world's top fund managers. Sharing the insights of these top value investors, expert authors Allen Benello, Michael van Biema, and Tobias Carlisle unveil the strategies that make concentrated value investing incredibly profitable, while at the same time showing how to mitigate risk over time. Highlighting the history and approaches of four top value investors, the authors tell the fascinating story of the investors who dare to tread where few others have, and the wildly-successful track records that have resulted. Turning the notion of diversification on its head, concentrated value investors pick a small group of undervalued stocks and hold onto them through even the lean years. The approach has been championed by Warren Buffett, the best known value investor of our time, but a small group of lesser-known investors has also used this approach to achieve outstanding returns. Discover the success of Lou Simpson, a former GEICO investment manager and eventual successor to Warren Buffett at Berkshire Hathaway Read about Kristian Siem, described as "Norway's Warren Buffett," and the success he has had at Siem Industries Concentrated Investing will quickly have you re-thinking the conventional wisdom related to diversification and learning from the top concentrated value investors the world has never heard of.
Hardcover: 256 pages
Publisher: Wiley; 1 edition (April 25, 2016)
Language: English
ISBN-10: 1119012023
ISBN-13: 978-1119012023
Product Dimensions: 6.4 x 0.9 x 9.3 inches
Shipping Weight: 15.5 ounces (View shipping rates and policies)
Average Customer Review: 4.0 out of 5 stars See all reviews (10 customer reviews)
Best Sellers Rank: #42,098 in Books (See Top 100 in Books) #30 in Books > Business & Money > Investing > Analysis & Strategy #69 in Books > Business & Money > Investing > Stocks
Disappointing not in terms of content but in poor editing which results in needless repetition. The topic is one worth reading about, the research is sound and referenced, but the variable quality of some passages can distract an interested reader. The section on Simpson alone seemed to raise the same points with a frequency which made me wonder if my kindle was looping.As an aside: in order to convince the reader that the thinking in the book is current, references to the common law principle of the "prudent man rule" in relation to fiduciary duties should have been referred to as "prudent investor rule."This is not nit-picking but the above are an example of how a book should aim to be precise and succinct rather than meet a 240-odd page target (I am reading the kindle version but assume that it is within the typical range for most books).Nevertheless, I plan to trudge onwards and complete the book in order to glean the insights since newer books on value investors are a rarity and help to further form a picture of names we consider synonymous with the approach and perhaps even to improve our own strategy on longer term wealth creation.
The book has a few interesting stories about less well known investors like Kristian Siem, but most of the book will not be new to seasoned investors. It is also more descriptive rather than analytical and in my opinion did not dig deep enough into the differences between various portfolio strategies and degrees of concentration (ex. 10-15 stock vs 30-40 stock). The Kelly formula is interesting but is also largely discussed in other books (Pabrai, Poundstone). There is room for editing improvement, with misspelled names (Ajit Jane) and a few quotes which I believe are likely wrong.
How good is your 20th best investment idea? Like all investors, I have a bias---I believe that most investors should hold concentrated portfolios. After all, if you are going to buy a lot of stocks, unless you are a genius or a quantitatively oriented investor, most likely your portfolio will resemble the index. In that case you could save time by investing in index funds. But, you could put most of your money in 10-20 stocks and watch those stocks very carefully. The authors of this book think that concentrated investing is the way to go, and they have excellent reasons for believing this. They have studied numerous investors and crunched the performance data. They offer us studies on risk, and a detailed essay on the Kelly Criterion, a subject in which I have an interest but couldn't find much information. In this handy new book each investor gets a chapter. We read about some famous ones, but also about some truly talented investors you probably never heard of. This book complements Common Stocks & Common Sense by Edgar Wachenheim III, which I read at the same time.
It's a great book. It is somewhat repetitive. I seem to read the same quotes multiple times throughout the book.The profiles are inspiring and informative. A few that I had not heard of. A well read investor will know most of the investors profiled in this book.But putting them together and focussing on the concentration in their respective styles is a new twist.Definitely worth at read!
All in all I thought it was a very good book. I liked reading the chapter's about Lou Simpson and Glenn Greenberg. One thing I thought was weird that the book goes over the same quote repeatedly. I understand that the quotes are important, but it just got to be very repetitive. I definitely would recommend it thought. Its is a great read about some truly great investors and their philosophies.
Concentrated Investing: Strategies of the World's Greatest Concentrated Value Investors Stock Investing: The Revolutionary Stock Investing Strategies For Beginners - The Complete Guide To Get Started With Stock Investing And To Maximize Your ... Trading, Investing, Investing Basics) Index Funds: Index Funds Investing Guide To Wealth Building Through Index Funds Investing With Index Funds Investing Strategies For Building Wealth Including ... Guide To Wealth Building With Index Funds) INVESTING FOR THE REST OF US: How To Invest In Stocks Using Index Funds: Passive Investing Strategies Everyone Can Use (Investing For The Rest of Us Series) Real Estate: 25 Best Strategies for Real Estate Investing, Home Buying and Flipping Houses (Real Estate, Real Estate Investing, home buying, flipping houses, ... income, investing, entrepreneurship) Options Trading Successfully for Beginners: Making Money with Options in just a FEW HOURS! (Investing Basics, Investing, Stock Options, Options Trading Strategies, Options Strategies, Book 1) Investing in Banks: Strategies and Statistics for Bankers, Directors, and Investors Index Funds: Building Your Road To Riches With Index Fund Investing (Investing, Bond Investing, Penny Stocks, Stock Trading) Step by Step Investing Bundle (4-Book Set): Your Complete Investing Strategy for Stocks and Bonds in Four Investing Books Investing Made Simple: Index Fund Investing and ETF Investing Explained in 100 Pages or Less The Entrepreneur's Guide to Cannabis: Concentrated Advice From 25 Industry Leaders Warren Buffett: Investing & Life Lessons on How to Get Rich, Become Successful & Dominate Your Personal Finance from the Greatest Value Investor of All The Book on Investing In Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money Real Estate: 30 Best Strategies to Prosper in Real Estate - Real Estate Investing, Financing & Cash Flow (Real Estate Investing, Flipping Houses, Brokers, Foreclosure) Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor The New Frontier Investors: How Pension Funds, Sovereign Funds, and Endowments are Changing the Business of Investment Management and Long-Term Investing The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss (Rich Dad's Advisors (Paperback)) How To Find Private Money Lenders For Your Real Estate Investing Deals: A Step-by-Step Automated Online System That Builds A Huge List Of "Ready To Go" Wealthy Investors Rich Dad's Advisors®: The ABC's of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss Creating Shareholder Value: A Guide For Managers And Investors
