Read more
Informationen zum Autor HESHAM M. GAD, an up-and-coming value investor, is the Managing Partner of the Gad Partners Funds. Prior to managing the Gad Partners Fund, he ran the Gad Investment Group from 2002 to 2005, a concentrated value fund that delivered annualized returns of 22 percent. He has written hundreds of investment articles and currently contributes to TheStreet.com and Investopedia.com. Gad holds an MBA in finance from the University of Georgia, during which time he met with Warren Buffett for lunch. Klappentext A blueprint to successful value investingSuccessful value investors have an ingrained mental framework through which all investments decisions are made. This framework, which stems from the father of value investing, Benjamin Graham-who believed that investment is most intelligent when it is most businesslike-can put you in a better position to improve the overall performance of your portfolio.Written by Sham Gad-founder of the Gad Partners Funds, a value-focused investment partnership inspired by the 1950s Buffett Partnerships-The Business of Value Investing effectively examines the fundamental tenants of this approach and skillfully illustrates the six essential elements of the entire process. Opening with some informative discussions of how value investing focuses more on buying a piece of a business, and less on buying a company's stock, this reliable resource quickly moves on to detail exactly what it takes to become a successful value investor.* Outlines the six essential elements required for a successful risk averse value investment approach* Contains case studies that illustrate how to approach investing in an intelligent, businesslike fashion* Walks you through the pitfalls that most investors initially fall intoWith The Business of Value Investing as your guide, you'll quickly become familiar with one of the most effective investment strategies ever created. Zusammenfassung Written by Sham Gad-founder of the Gad Partners Funds, a value-focused investment partnership inspired by the 1950s Buffett Partnerships- The Business of Value Investing effectively examines the fundamental tenants of this approach and skillfully illustrates the six essential elements of the entire process. Inhaltsverzeichnis Acknowledgments xiii Introduction xvii Chapter 1 Invest in the Business, Buy the Stock 1 Stock Prices are More Noise Than Information 4 A Businesslike Approach to Valuing the Business 6 The Making of a Legend 11 A Simple Idea, Really 14 Chapter 2 The Only Three Types of Investments You Need to Know 15 Stocks Prices aren't Always Rational 16 The Business Side of Investing 17 Three Buckets: Undervalued, Overvalued, and Fairly Valued 21 Price Determines Value 24 Key Takeaways 31 Chapter 3 The Six Elements of Intelligent Investing 33 All Investing is Value Investing 35 Learn from the Masters 38 The Sum of Its Parts: A Fundamental Framework 39 A Mental Latticework 42 Overview of the Six Elements 43 Emphasize the Process, Not the Outcome 46 Key Takeaways 46 Chapter 4 Establish a Sound Investment Philosophy The First Element 47 Preservation of Capital is the Name of the Game 49 Price Paid Determines Value Received 52 The Starting Point Matters 54 Avoid Using Margin 61 Focus on Absolute Returns 64 Key Takeaways 66 Chapter 5 Develop a Search Strategy The Second Element 67 Ignore the Media 69 Imitation is the Sincerest Form of Flattery 72 Basic Search Strategies 75 Advanced Search Strategy 85 Key Takeaways 89 Chapter 6 Effective Business Valuation The Third Element 91 Value Investing 101: Margin of Safety 92
