The value investing tutorial portion of the book appears to be written for the true beginner, using very simple and non-technical examples, but I don't believe it goes quite far enough to be the sole resource of a new investor. You should have atleast some experience in investing to fully appreciate what the author is saying. Katsenelson takes his reader step by step into the mind of the value investor by relating, in a fictional addendum to Fiddler on the Roof, the story of Tevye's purchase of Golde, the cow. By that, I mean focusing the thought processes on deciding whether to make an investment in the company the business at the right price, not on trying to make a speculative trade in the stock. Provides a clear framework for equity investing in today's 'sideways' and volatile markets useful to everyone. A book that has been read but is in good condition.
Only then will you put the odds in your favor to combat the roller coaster that has become the stock market. To support his strategic model, Mr. Chapter Twelve Applying Darwinism to the Sales Process. Financial Tides and Seeking Alpha? And it is a delight to read. Chapter Thirteen You Are Not As Dumb -- or Smart -- As You Think. In an environment where profits grow and multiples increase, markets rise and the main risk is not being fully invested in stocks in general.
Pretty much back where you started in 2000. Chapter Eleven The Born-Again Value Investor. The E-mail message field is required. The worthless ones don't provide anything useful or are obsolete at printing. What differentiates this book from so many others on value investing is that it describes, sometimes through the use of case studies, the thinking of a value investor.
Though he explains all the concepts very well, this book is not meant for beginners. This may be a little book, but it's packed with insights for both novices and experienced investors. The opportunity cost of being invested in cash is much lower and only the right equity strategy will give a meaningful return. As an active trader my biggest concern when reading an investing book is what can I take away from this book and use right now. The central reason for making the sideways market argument isn't to pinpoint the length of the market move, but to convince the reader that, in such a market, it's tough to make money just by being in the broad market, or by being a buy-and-hold investor. Offers guidance on the discipline of selecting stocks, as well as wisdom on the challenges of knowing when to sell.
When a stock reaches fair value, Vitaliy preaches that the stock should be sold, instantly. Katsenelson also marks the traps and pitfalls that lay in wait so you can avoid them and take a look over the horizon at the oncoming crises in Japan and China. There are a lot of? Katsenelson gives a lucid explanation of today's markets with sound advice about how to make money while avoiding the traps that the market sets for exuberant bulls and frightened bears alike. Kort och koncis bok med heltäckande resonemang om hur börsen fungerar. Katsenelson takes his reader step by step into the mind of the value investor by relating, in a fictional addendum to Fiddler on the Roof, the story of Tevye's purchase of Golde, the cow. Chapter Seventeen I Could Be Wrong, but I Doubt It. What differentiates this book from so many others on value investing is that it describes, sometimes through the use of case studies, the thinking of a value investor.
Inga kapitel känns överflödiga likt många andra böcker kan kännas, utan allt känns relevant. Chapter Fourteen On a Scavenger Hunt for Stocks. He makes value investing come alive. Value investors sometimes treat free cash flow as the holy grail of investing and valuation, ignoring the ways management has historically handled the cash, either creating or destroying value. Not just his models or his metrics but his assessments. Vitaliy does a great job at telling simple stories that teach complicated lessons within the financial markets, while embedding value investing wisdom within those stories, so that we may capitalize when the markets are caught in a range, which he calculates to be 50% of the time.
Vitaliy Katsenelson has the answer: a value investing strategy with a focus on when to sell will get you through the whipsaws of sideways markets and coming out well ahead. Basically, in sideway markets, buy-and-hold may turn out to be buy-and-sell. Katsenelson is an empiricist who weighs facts, looks for contraindications, and makes decisions. The Little Book of Sideways Markets: How to Make Money in Markets That Go Nowhere. He then moves on to the fundamental principles of active value investing. How do you read a 10-q, or a 10-k, or a proxy statement? Even advanced investors have to refresh themselves in the basics once in awhile.
And it is a delight to read. Katsenelson takes his reader step by step into the mind of the value investor by relating, in a fictional addendum to Fiddler on the Roof, the story of Tevye? You then use the money to buy other undervalued stocks of good quality and with decent growth. Whilehis primary focus is on discovering under-valued companies for his clients, he is also known for his uncommon common sense, which he has regularly expressed in articles in the Financial Times, Barron's, Bloomberg Businessweek, the Christian Science Monitor, Institutional Investor, and the New York Post, among other outlets. ? It advocates a 'buy and sell' approach rather than the 'buy and hold' approach which is more common. Chapter Nine Add it Up.