Analyst Handbook Chapter 1: What is Investing?

RESTROOM

Gold is not necessary. I have no interest in gold. We’ll build a solid state, without an ounce of gold behind it. Anyone who sells above the set prices, let him be marched off to a concentration. That’s the bastion of money.~Adolf Hitler

There are about three hundred economists in the world who are against gold, and they think that gold is a barbarous relic – and they might be right. Unfortunately, there are three billion inhabitants of the world who believe in gold.~Janos Fekete

Chapter 1: Analyst Book for CSInvesting_Chapter 1_What is Investing

Inserts:

  1. Chapter 20_Margin of Safety Concept
  2. Mr Market by Ben Graham
  3. Mises on Money_Vol_3 by Gary North

Postscript (Adding)  Montier

http://www.scribd.com/doc/86467853/Value-Investing

Read–Financials: Opportunity or Value Trap   on 13 August 2008. Mr. Montier does a good analysis at trying to find a margin of safety in banking stocks on the eve of the 2008/2009 credit crisis. 

Thank you for your prior comments on the introductory chapter. My main takeaways were: 1. many liked the commentary in the case study and 2. Perhaps break up the large intro into smaller sections.

Listen carefully to this interview with Paul Singer

Paul Singer

 

 

 

 

8 responses to “Analyst Handbook Chapter 1: What is Investing?

  1. Good start. I enjoyed it. A bit long though. BTW it’s Gregory Peck and not Burt Lancaster with Danny DeVito.

  2. DanielONRME@hotmail.com

    John,

    I would really like to read a book written by YOU. This feedback system might seem helpful, but couldnt it also influence the content of the book?

  3. This would be a great help! Thank you very much! 🙂

  4. DanielONRME@hotmail.com,

    Try to look at the handbook as a compilation of the best ‘thoughts’ there are on Value Investing. I think it acts best as a repository of valuable information for a wannabe value investor.

    If you’re looking for a pre-digested and comprehensively laid out framework for value investing, perhaps Benjamin Graham’s Securities Analysis would be better albeit a bit too in-depth and complicated.

  5. I personally would not do a chapter on why does value investing work because plenty of books offer that rationale and I guess we can assume if the person is reading a a value investing book, he is already convinced of such. Plenty of other topics to waste energy on. : )
    Just my thoughts….
    PS: I did not finish reading it yet…

  6. Hello John,

    I really enjoyed your chapter one Introduction. I like you approach. It covers the basics for the beginner. I’m trying to figure out a systematic method to value a company. Need more knowledge on how to value, what numbers to run. How do their numbers compare to peers, how to determine peers, how calculate future share price, etc. To that end. Where can I find the other chapters?

    Keep up the great work! I’m looking forward to the next Walmart value post.

    Thanks in advance,
    Michael

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