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Investment Gurus: A Road Map to Wealth from the World's Best Money Managers (New York Institute of Finance) Mass Market Paperback – January 1, 1999


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Product Details

  • Series: New York Institute of Finance
  • Mass Market Paperback: 432 pages
  • Publisher: Prentice Hall Press (January 1, 1999)
  • Language: English
  • ISBN-10: 0735200696
  • ISBN-13: 978-0735200692
  • Product Dimensions: 9 x 6 x 1.2 inches
  • Shipping Weight: 1.5 pounds
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (12 customer reviews)
  • Amazon Best Sellers Rank: #1,812,250 in Books (See Top 100 in Books)

Editorial Reviews

Amazon.com Review

It sometimes seems as if there were as many different investment styles in practice today as stocks in which to invest, with virtually every one of them--styles as well as stocks--offering varying levels of appeal to various people. Professional investment consultant Peter J. Tanous has come to understand this after three decades in the field, and in Investment Gurus, he presents a wide range of tactics and strategies that have been developed by acknowledged stock-picking experts. At the heart of this book are Tanous's interviews with 18 top money managers and academics, including Mario Gabelli, William F. Sharpe, Peter Lynch, Laura J. Sloate, and Merton Miller. The book concludes with "Your Roadmap to Wealth," which summarizes the success factors common to each of the money managers interviewed and suggests ways to develop an "intelligent personal investment plan." --Howard Rothman

From Publishers Weekly

Can a smart money manager working from the outside revive a bankrupt company with his clients' massive capital and a sharp management agenda? Are "value" stocks better than "growth" stocks? Can anyone "beat the market"? Is volatility okay? What about the role of the Internet in trading? These and other questions vital to stock market investors are aired in this remarkable series of interviews with investment industry leaders by Tanous, whose firm, Lynx Investment Advisory, finds money managers for billion-dollar clients. The author brings out the financial background, strategy and tactics of such mutual-fund miracle men as Fidelity Magellan's Peter Lynch ("what happens to the company... happens to the stock"); "momentum" trader Richard Driehaus ("look for earnings surprises") and "Super Mario" Gabelli, who champions "intrinsic private market value." Other big-name trader/managers also speak out freely here. In closing, the author constructs sample "portfolios" of guru-managed mutual funds for the reader's consideration. $50,000 ad/promo; author tour.
Copyright 1996 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

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Customer Reviews

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I recently read Investment Gurus, by Peter Tanous.
Bob G.
The consultants he selected for this book represent the major stock investing approaches as growth, value or momentum investors.
Rolf Dobelli
If you want to learn how to invest better, then this book should help.
dobsonsm@orion.branch-co.lib.mi.us

Most Helpful Customer Reviews

13 of 14 people found the following review helpful By alexthevc on June 11, 2003
Format: Mass Market Paperback
Tanous's effort is far superior to the other collections of interviews with money managers. Most books of this sub-genre fall into two categories, depending on the author. The first type of author is usually a journalist who knows little about the disciplines of stock picking and running investment funds, and you are usually hard pressed to find any new insight in their books, because they don't know how to ask their subjects the really insightful questions. The second type, which I'll call the John Train style, has a sophisticated investor/fund consultant doing the interviews, and can often produce real insight from the interviewees. The problem with many of these books, and Train's in particular, is that the author is often not trying to interview the successful money managers. Instead, authors like Train are often trying to play gotcha! with their interviewees, subjecting them to asinine questions and frequently diverging from the topics that made you buy their book in the first place. The Money Masters by Train is so full of political tangents and Train's forcing his opinion on the likes of Peter Lynch and Warren Buffett that I've wanted to scream at him at some points.
In contrast, Tanous knows how to ask questions that are of interest to professional and serious amateur investors, and he knows how to stay on topic. He does ask every interviewee about the efficient market hypothesis, but that's a theme of his book and can be excused. What you get from Tanous is an interviewer who knows how to ask really penetrating, really revealing questions of the world's best money managers, and the humility to realize that his readers don't want to know what he, Tanous, thinks, but what his interviewees think!
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6 of 6 people found the following review helpful By J. Rodeck on September 15, 1999
Format: Hardcover
Entertaining for a money book. Brisk interviews with people who gamble with billions of other people's money. Interesting debate on the Efficient Market Theory, or passive vs active investing. Author has excellent interviewing and research skills, nice minimal cross-referencing.
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4 of 4 people found the following review helpful By Paul Tennis (72477.3710@compuserve.com) on January 19, 1998
Format: Hardcover
Investment Gurus by Peter Tanous I enjoyed reading Investment Gurus. The bulk of the book is devoted to interviews with various portfolio managers who have excellent track records. What I found most interesting about the interviews were the many different ways/styles of investment these managers employ to make money in the stock market. Some of the styles are diametrically opposed to each other, though each manager sticks to his/her style and does well. The author gives some background information about the interviewee before the interview, then summaries the interview briefly at the end. While the interviews were useful in identifying an investment style I would feel comfortable with, for me the greatest value of the book came in the last section - Part 3, The Route. Here the author sums up the interviews succinctly while offering his own advice. I found his section on crafting an intelligent personal investment plan very enlightening. The author was writing to my level, unlike many of the popular money/investment magazines of the day. Overall, an excellent book for those who have at least an intermediate understanding of investing and want to get actively involved in managing their nest egg. And who wouldn't want to do that?
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4 of 4 people found the following review helpful By A Customer on April 11, 1999
Format: Hardcover
This book provides an overview of several prominent investment strategies. Those providing their insights are and have been highly successful in investing in the stock markets.
In my opinion, the novice investor can gain some very helpful guides for how to succeed in the stock markets. The little guy can succeed in today's stock market, as the gurus interviewed in this book attest, but the little guy must be well armed with a long term strategy...This book gives the little guy some great insights on how to succeed.
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18 of 24 people found the following review helpful By A Customer on May 24, 2001
Format: Mass Market Paperback
Most of the interviews in this book appear to have been conducted in 1996.
I checked as many of the managers/funds as I could on Morningstar (some of managers have private equity funds, and therefore are not available on Morningstar), and it appears that most of the managers described here have underperformed the market since 1996. Some of the funds (e.g. Linder) have gone out of business or dramatically restructured due to poor performace. Since one of the major themes of the book is to pit the efficient market theory/passive manager (Fama/French/DFA) types against active managers, and the author seems to side with active managers over passive, this is very amusing. It seems that time has proven the contrary of the point the author chose to make.
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3 of 3 people found the following review helpful By Rolf Dobelli HALL OF FAME on March 16, 2001
Format: Mass Market Paperback
Peter Tanous features interviews with 18 individuals he identifies as top, common stock investment consultants - or "gurus." His choices are based on his work as a consultant identifying investment advisers for corporations. The consultants he selected for this book represent the major stock investing approaches as growth, value or momentum investors. The interview format lets them speak for themselves. He briefly introduces the book with a primer on basic investment terms and principles, and a summary of major themes. We at getAbstract find the range of views shown very helpful, but note that the book suffers from overwriting and a lack of focus and editing. Some tightening would help highlight the main points in the long interviews. The introduction and conclusion are long and general, and a clearer, more detailed summary would be very welcome. Yet, the book offers a lot of information for the average serious investor, much of it straight from the mouths of some very important horses.
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