Book Of Value: The Fine Art Of Investing Wisely (Columbia Business School Publishing) Download Free (EPUB, PDF)
Financial markets are noisy and full of half-baked opinions, innuendo, and misinformation. With deep insights about investor psychology, Book of Value shows how to apply tools of business analysis to sort through the deceptions and self-deceptions in financial markets. Anurag Sharma joins philosophy with practical know-how to launch an integrated approach to building high-performance stock portfolios. Investors at all skill levels should learn to be mindful of their psychological biases so they may better frame investment choices. Book of Value teaches novices that investing is not a game of luck but a skill―and it teaches the emotional and analytical tools necessary to play it well. Intermediate investors learn how to effectively control emotions when investing and think strategically about their investment program. Advanced investors see the formalization of what they already know intuitively: that the philosopher's methods for seeking truth can be profitably applied to make smart investments. A groundbreaking guide full of lasting value, Book of Value should be on the shelf of anyone who takes investing seriously.
Series: Columbia Business School Publishing
Hardcover: 360 pages
Publisher: Columbia University Press (September 6, 2016)
Language: English
ISBN-10: 0231175426
ISBN-13: 978-0231175425
Product Dimensions: 6.1 x 1.5 x 9.1 inches
Shipping Weight: 1.2 pounds (View shipping rates and policies)
Average Customer Review: 5.0 out of 5 stars See all reviews (3 customer reviews)
Best Sellers Rank: #39,118 in Books (See Top 100 in Books) #68 in Books > Business & Money > Investing > Stocks #151 in Books > Business & Money > Investing > Introduction #224 in Books > Business & Money > Finance
I have read most well regarded investment books of all time and I have worked in financial markets for over 15 years. I don't know the author. In my humble opinion this is a special book that every investor, whether novice or professional can benefit from. I have read it twice now and made notes, and now written my first book review. I have not been prompted to do any of those actions before despite reading and gaining valuable knowledge from great books by Greenwald, Marks, Graham, Fisher and many other great investing authors. The author defines investing as a 'problem of choice as opposed to defining it as a problem of chance'. The book provides an analytical framework for controlling emotions and biases using the principle of negation, turning investing into a negative art. I found many insights in this book that will help with my investing. Real world company examples are provided and enough information is provided for practical application. I would have liked to have seen more real world application examples with different outcomes and associated discussion however I presume the author had page constraints. At 330 pages there is already a lot of valuable information packed in the book. The author mentions plans for a second edition. I for one will look forward to its publication.
I have now been in the investing business for more than 15 years and rarely does an investing book surprise me in a good way but Book of Value by Anurag Sharma managed to do just that. I have become quite skeptical of academics that teach investing because they don’t seem to grasp the realities of the investment process. This book avoids those cognitive failures and puts its readers on the right track in vital areas such as investor psychology, diversification, and how to determine a proper discount rate. All areas that cause the vast majority of investment failures that I encounter. I would recommend this books for new investors, those who aren’t successfully investing currently, institutional investors, and investing consultants.
I own well over 200 books on the subject of investing/history of markets; from well-known modern classics like The Most Important Thing to forgotten gems like The Money Game. It’s been a good while since I’ve picked up such a refreshing, well-written and important book that truly adds value to the existing breadth of literature on the subject. So many redundant books on investing out there; this is certainly not one of those!This book does not introduce entirely new concepts but does offer key building blocks that so many behavioral finance and traditional finance books seem to miss. The vast majority of investors would likely serve themselves well if they focused on the investment principals laid in just handful of books and simply reread them. I've not recommended the same group of books to different investors but one I almost always recommended is "Your money and Your Brain, by Jason Zwieg. The Book of Value is now on a list of two I plan to recommend to just about every investor.
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