Art & Science of Value Investing: Invest Like Billionaire Warren Buffett
Posted by jack_miller | Published a year ago
With 21 ratings
By: Scott Thompson, Michael Ashcraft, et al.
Purchased At: $22
The best seller Art & Science of Value Investing is being used at accredited colleges, business schools, and universities. Foreword by Peter Buffett, son of billionaire Warren Buffett.
Empower yourself with value investing methods used by the world's most successful value investors! These include Ben Graham, Warren Buffett, Charlie Munger, Phil Fisher, and more. Each valuation model is explained in a simple, easy-to-understand, step-by-step process. Now you can learn to value businesses, stocks, and bonds and estimate intrinsic value like billionaire Warren Buffett! Transform your financial life. Discover how to use both qualitative and quantitative factors to identify high-quality undervalued businesses.
Let me say right away that I don't embrace the same investment strategy that Scott does. As founder of www.netnethunter.com, I'm pretty obsessed with net net stocks. That being said, I'm giving this book as detached and balanced of a review as I can.
Scott's book is written for people who are just starting out in investing -- new investors. If you're looking to stat out as an investor, then this book is a good first initial read to get a broad range of terms and strategies under your belt. Scott's writing is accessible and he's able to break down complex concepts into small pieces that are easy to digest.
His focus is mainly on Warren Buffett's contemporary investment strategies and he does a good job explaining them for readers. He also talks about a number of other contemporary investment strategies, such as weighted average cost of capital, but also touches on small pieces of Ben Graham.
Where this book shines is in the talk of investment temperament. This is critically valuable for new investors, and something that's more or less ignored in other investing books despite how critically important it is to your success.
This book is great, but not perfect. If there was a greater breadth (or an equal amount of pages devoted to) a wider range of investment styles, and these strategies were covered in more depth, then it would have been an easy 5 stars. That's not the book he intended to write, though, and for what it is it's great.
If you're interested, I wrote a much more detailed review here: http://www.netnethunter.com/art-science-of-value-investing-a-book-review/
None of the investment theory the author talks about is wrong necessarily, but the ideas just aren't as clearly defined or conveyed as in other value investing literature I have read. I think I am going to tough it out and finish reading it, but learning about value investing should be fun and interesting. It is hard to feel that way about a book the author and editors didn't care enough about to proofread.
Also, if you want to learn how to invest like Warren Buffet, just read the letters to shareholders which you can find for FREE on the web. Cheers.
-Marco LeRoc, Author, Money Coach & International Speaker.
I purchased this on kindle and it arrived on my device without any problem...
This book was fun and informative. I bought this to see how Mr Thompson thinks, as the
are few books available which are actually written by individuals working in Value investment
based money management, running other peoples money as such.
I have been a value investor for five years full time and was looking for something to fill some gaps
and as a reference point. This book simply delivers, the section on discounted cash flows would be
invaluable to someone just starting out in qualitative analysis and understanding future business cash flows.
Scott writes with a relaxed and honest candor, never becoming pretentious or overbearing. It is evident he
has a genuine passion for Value investing and this shows in the highly complementary description he gives
of famous Value investors.
These kind of things are what got me into this industry, the is a considerable amount of kindness, honesty
and integrity found in the famous past, present professional practitioners of this investment approach. No doubt
many other such individuals will be the same in the future. There's a good introduction to Scott's influences and sets
a nice theme for the book.
Sometimes even those with an excellent memory can benefit from reading what they may have forgotten in time and
this book is one of those great reference guides to keep you mind sharp. The author has an MBA and in many countries
it can be difficult to hold a relevant MBA and be a value investor just down to the practicality's of it all. Therefore his line
of thinking has been of a benefit to me.
All in all i definitely picked up a few golden nuggets throughout the text and some insights making the purchase worth while.
Most of the big ideas are well represented here and beginners would do well to read this book before the classics to get
a good framework for how the goal posts have changed with market efficiency.
This reviewer would be happy to see this text in a university coarse. Although
such a coarse would undoubtedly require more material. Value investing cant be taught in a
day but you can get the bug that fast!.
I had heard of Philip L. Carret, but not in detail. There is a section with a transcript on his personality and style. This was
the highlight of the book for me as he had an incredible money management record and i am interesting in learning more.
So i have withheld one star as customary for me. I only give 5 stars to a few people and those people are Ben Graham
, Charlie Munger and of coarse Warren Buffett. My only criticism is that the book contains many quotes. Who actually originally
said some of these things first i believe may have been in some instances lost to the hands of time. I may well be wrong
and this is simply nitpicking.
Robert W. Johns