Prayer for a Deep Value Investor; Special Project (Montier Reading)

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If— A poem Phil Fisher kept by his bedside to emphasize independence of spirit and rationality/grace under pressure.

BY RUDYARD KIPLING

If you can keep your head when all about you

    Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you,
    But make allowance for their doubting too;
If you can wait and not be tired by waiting,
    Or being lied about, don’t deal in lies,
Or being hated, don’t give way to hating,
    And yet don’t look too good, nor talk too wise:
If you can dream—and not make dreams your master;
    If you can think—and not make thoughts your aim;
If you can meet with Triumph and Disaster
    And treat those two impostors just the same;
If you can bear to hear the truth you’ve spoken
    Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
    And stoop and build ’em up with worn-out tools:
If you can make one heap of all your winnings
    And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
    And never breathe a word about your loss;
If you can force your heart and nerve and sinew
    To serve your turn long after they are gone,
And so hold on when there is nothing in you
    Except the Will which says to them: ‘Hold on!’
If you can talk with crowds and keep your virtue,
    Or walk with Kings—nor lose the common touch,
If neither foes nor loving friends can hurt you,
    If all men count with you, but none too much;
If you can fill the unforgiving minute
    With sixty seconds’ worth of distance run,
Yours is the Earth and everything that’s in it,
    And—which is more—you’ll be a Man, my son!
You should have received Value Investing by Montier (attachment in the email)  If YOU did NOT, then check your spam filter or email me at Aldridge56@aol.com.
Volunteer(s) (especially a CFA or MBA) to read and discuss via a post with links PART 1: WHY EVERYTHING YOU LEARNED IN BUSINESS SCHOOL IS WRONG   (pages 1 – 72).  I will discuss the details to cover later.
PS: The questions posted for reading Lesson one (1) are to help YOU in understanding/questioning the reading. You do NOT have to send to me unless you want to or you can post to the blogs’ comments’ section with your comments/additional thoughts.  If you disagree or have another perspective on what you have read then do not hesitate to share.  Deep Value Investors tend to be contrarian/iconoclastic.
KEEP LEARNING!

5 responses to “Prayer for a Deep Value Investor; Special Project (Montier Reading)

  1. Great, another value investing book to read and learn from.
    Just to understand better the format. Will we be returning to the ‘Deep Value’ book later? I had thought we were going to go through the book chapter by chapter, but perhaps I misunderstood.
    I’ve only read the preface so far, as instructed for lesson 1.

  2. Yes, we will go through Deep Value AND Quantitative value but not necessarily chapter by chapter. We need to cover the basics and build step by step. The other books providedare SUPPLEMENTARY and for special projects.

  3. I think they’re a danger that we’ll be swamped by too much info. I’m reading Deep Value all the way through, as I find it very interesting in learning what the author has to say.

  4. Value Investing is an excellent book but a bit difficult to read. Montier seems to make a simple concept more difficult. Maybe I’m not used to his writing style. Nonethelss, I will give another shot and read pages 1 to 72.

  5. I have the book and have never read it. I had the same feeling Carl.

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