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Value Investing
Contributor(s): Montier (Author)
ISBN: 0470683597     ISBN-13: 9780470683590
Publisher: John Wiley & Sons
OUR PRICE:   $46.80  
Product Type: Hardcover - Other Formats
Published: December 2009
Qty:
Additional Information
BISAC Categories:
- Business & Economics | Investments & Securities - General
Dewey: 332.6
LCCN: 2009027977
Physical Information: 1.2" H x 6.6" W x 9.6" (1.9 lbs) 416 pages
 
Descriptions, Reviews, Etc.
Publisher Description:
Value Investing has been pioneered and is used by the world's most famous investors, including Warren Buffett, Ben Graham, John Templeton, Joel Greenblatt, Bruce Greenwald and many more. It offers tried and tested techniques to making money out of buying underpriced shares and securities.
In this important new book, the highly respected and controversial value investor and behavioural analyst, James Montier explains how value investing is the only tried and tested method of delivering sustainable long-term returns. This begs the question why isn't everyone a value investor? In part, it is because value investing requires a different mindset and the methods, approach and conclusions of value investing are very different from those taught in business schools and finance courses. In this book James shares his tried and tested techniques and provides the latest and most cutting edge tools and techniques you will need to deploy the value approach successfully.

James shows you why everything you learnt at business school is wrong; how to think properly about valuation and risk; how to avoid the dangers of growth investing; how to be a contrarian; how to short stocks; how to avoid value traps; how to hedge ignorance using cheap insurance. Crucially he also gives real time examples of the principles outlined in the context of the last 18 months.

Contents:

Part I: Everything you learnt in Business School is wrong
1) The dead parrot of finance
2) Psuedoscience and finance
3) The relative performance derby: a key source of poor performance
4) The dangers of DCF
5) Is Value really risker than growth
6) Deflation, depression and value

Part II) Behavioural Foundations of Value Investing
7) Overpaying for the hope of growth
8) Placebos, booze and glamour stocks
9) Tears before bedtime
10) Clear and present danger: The Trinity of Risk
11) Maximum pessimism, profit warnings and heat of the moment
12) The behavioural stumbling blocks to value investing

Part III) The Philosophy of Value Investing
13) The ten tenets of investing
14) Process not outcomes
15) Beware of Action man
16) The Bullish bias and the need for scepticism
17) Keep it simple stupid
18) Dark days for deep value

Part IV) The Empirical Evidence
19) Global Value Investing
20) Graham's net-nets: outstanding or out-dated?

Part V) The 'Dark Side' Of Value Investing: Short Selling
21) Pirates, Spies and Short Sellers
22) Cooking the books
23) Bad business

Part VI) Real time value investing
24) The case against emerging markets
25) Financials: opportunity or value trap
26) Bonds: speculation not investment
27) Cyclicals and value traps
28) The road to revulsion and the creation of value
29) Psychology of bear markets
30) Revulsion and value
31) Buy when its cheap, if not then, when?
32) Roadmap to inflation and sources of cheap insurance