It is not often that I get a investment book that holds my attention. Usually, I find a lot of parroting, but this book is one book that gets me reading non-stop for 2 chapters. I have been reading it for days without complaint and I have been re-reading some of the chapters. It has been a while since "Uncommon Profits, Common Sense" that I find a book that intrigues me.
The cover of the book looks like this. A glance of the content page show you various investment style by the "gurus"
I believed my investment beliefs centered more around FA, and the area I look at are cyclicals and turnaround plays. When I settled off reading the value investors and growth investors, that all have nuggets of wisdom that I thought I could apply, like Scoring system, cash flow growth, etc.
As I went on to thematic and TA of those investors, I read how they talk about value traps, and the shortcomings of value investing. Yet, if you ask me, I find all these investors who "debate" against the wisdom of value investing very grounded in FA. It is about alpha, sector, momentum, but it never fails against looking at the management, balance sheet etc. Even for someone who looks at "cup" pattern (whatever that means), talk about market leadership, comparison of competitors and how "weaklings" move compared to the leaders.
Some talk about how as a money manager, they need to manage client expectations and, while he admits tha value investing works, it might not work well enough since the client might pull the money before any meaning appreciation could happen.
If you are free this holiday, or because you work from home, it is a good read. It is easy to navigate and you could go to any investor's interview. Before the transcript of the interview, there is a introduction introducing the investor and their track records, life etc. After the interview, there is a summary of important points made in the interview. The summary is just a 5 min read, if you wish.
Hope you enjoy the book. I will update when I read it deeper.