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Informationen zum Autor Michael Shearn founded Time Value of Money, LP, a private investment firm, in 1996, to devote his attention to selecting and researching stocks and private investments. He launched the Compound Money Fund, LP, a concentrated value fund, in 2007. Shearn serves on the Investment Committee of Southwestern University, which oversees the school's $250 million endowment. He is also a member of the Advisory Board for the University of Texas MBA Investment Fund. Shearn graduated magna cum laude from Southwestern University, a small liberal arts college in Georgetown, Texas, with a BA in business, with an emphasis in accounting and finance. He lives with his wife and two daughters in Austin, Texas. Klappentext Praise for THE INVESTMENT CHECKLIST "Every wise investor will keep The Investment Checklist next to their financial instrument panel and consult it whenever they make a decision to buy or sell a stock." - Robert P. Miles, author, The Warren Buffett CEO "Michael Shearn has written an indispensable book. It will raise the game of every investor who reads it. Fortunately, not all of them will." - Judd Kahn, co-author, Competition Demystified and Value Investing: From Graham to Buffett and Beyond When you base your stock purchase decisions on isolated facts and don't take the time to thoroughly understand the businesses you're buying, costly investment mistakes are usually made. Instead, your investment purchases should be based on understanding the value of a business through in-depth research. That's why Michael Shearn-founder of Time Value of Money, LP and the Compound Money Fund, LP-has created The Investment Checklist. In it, he shares the successful approach he's used over the past decade to generate and research investment ideas, assess the quality of a business and its management team, and ultimately improve his overall investment performance. Along the way, you'll be introduced to specific "checklists" that will enhance your ability to understand the dynamics of the business you're interested in and the people operating it, value the potential investment, and make the most informed buy or sell decision possible. Each chapter also contains countless examples that show you exactly how the author's checklist has helped him make the right investment moves over the course of his successful professional career. Whether you're just starting out and thinking about what you want to invest in, or already have a portfolio that you want to manage more effectively, The Investment Checklist has the tools and insights you need to improve your investment endeavors. Zusammenfassung A practical guide to making more informed investment decisions Investors often buy or sell stocks too quickly. When you base your purchase decisions on isolated facts and don't take the time to thoroughly understand the businesses you are buying, stock-price swings and third-party opinion can lead to costly investment mistakes. Inhaltsverzeichnis Preface xi Acknowledgments xix Chapter 1 How to Generate Investment Ideas 1 How Investment Opportunities Are Created 1 How to Filter Your Investment Ideas 14 Using a Spreadsheet to Track Potential and Existing Holdings 19 Chapter 2 Understanding the Business-The Basics 21 1. Do I want to spend a lot of time learning about this business? 22 2. How would you evaluate this business if you were to become its CEO? 23 3. Can you describe how the business operates, in your own words? 26 4. How does the business make money? 28 5. How has the business evolved over time? 29 6. In what foreign markets does the business operate, and what are the risks of operating in these countries? 30 Chapter 3 Understanding the Business-from the Customer Perspecti...
