Books: “Value Investing: From Graham to Buffett and Beyond”
Actually, this book is in my wish list. And the reviews there make the book more attractive. But after I read the following review,I am gonna skip this book, anyway, I am not a big fan of formulas…. How about you? my friend.
Value Investing: From Graham to Buffett and Beyond, is written for students of value investing. The author, Bruce C. N. Greenwald is a Professor and reading this book gave me the feel as if I was attending one of his lectures.
The first part of this book is about the different theories and valuation methods. Only when one is able to fairly value a business will he be able to judge if the business or stocks are selling below its intrinsic value. If you are the type who falls asleep listening to your lecturer, chances are this book is as good as a sleeping pill to you.
The second part of the book analyzes the different approaches used by different value investors such as Warren Buffett, Mario Gabelli, Glenn Greenberg, Seth Klarman and a few others. We see how these investors put their knowledge into use and how they value businesses.
My conclusion, this book is more suitable for readers who love academic theories and formulas.
The above review is done by Cash Color. I have no doubt that those mathematics will help the big investment banks and hedge funds to control risks and make money, but for normal investors like me, the insights, principles and disciplines will be more valuable.
