"...a great how-to guide for both beginning and experienced value investors...a terrific addition on this time-tested methodology." -- Eric T. McKissack, Vice Chairman, Ariel Capital Management/Ariel Mutual Funds
"practical, insightful, and a great roadmap to not only value investing but how to make money in the stock market." -- Joel Greenblatt, Managing Partner, Gotham Capital
The investing style that made Warren Buffett the world's wealthiest investor!
Strategies for Identifying Today's Best-Run Corporations--Then Buying Them for Pennies on the Dollar
As an investor, you don't buy stocks; you buy companies. The Five Key Steps to Value Investing shows you how to ensure that the company you're investing in is solid and wellmanaged and, most important of all, worth more than you are paying.
J. Dennis Jean-Jacques, who made his name as an investment analyst working with legendary value investor Michael Price, presents in the form of a clear framework a time-proven value investing strategy for identifying well-run companies, then investing only in those that are undervalued. Find out here how today's best value investors:
- Obtain insights and information from a company's financial statement
- Buy strong, growing companies at a significant discount to their true values
- Identify and capitalize on events destined to spur stock price appreciation
Accomplished value investors pay little attention to the ebb and flow of the stock market; instead, they concentrate on the intrinsic worth of a company. The Five Key Steps to Value Investing introduces you to the tenets of value investing. It then provides you with the hands-on tools and long-term confidence you need to construct a portfolio of solid, low-maintenance, and high-value stocks--each bought at a substantial discount to their true worth.
"Once you have the right tools and an awareness of the emotional discipline required, no other quality is more important than the ability to properly assess the specific investment opportunity on the table. The Five Key Steps to Value Investing helps you to assess the type of investment you may face and gives you examples of the tools other independent value investors have used in such situations."--From the Introduction
Throughout the tech-driven markets of the late 1990s, value investors were scorned as being behind the times, and too stubborn to accept "new economy" realities. But when the bubble burst, and hard-driving traders were left to lick their wounds and wonder what went wrong, the wisdom of value investing once again came to the forefront--as it always has, and always will.
The Five Keys to Value Investing shows you how to become a value investor, investing only in companies with market-proven performance and track records of superior growth. This commonsense guidebook will help you:
- Understand--and apply--the Five Levers of Value to each investment decision
- Analyze the strengths and weaknesses of a company's management team
- Properly assess price, and locate gaps between market price and actual value
- Determine a stock's current safety levels through margin-of-safety analysis
- Know when the time is right to sell a company's stock and move on
The Five Key Steps to Value Investing isn't about can't-miss day trading techniques or formula-driven technical analysis wizardry. It isn't even necessarily about investing. It is instead about companies; what makes a solid company, and how you can uncover companies with those attributes that have been overlooked by today's stock-of-the-minute marketplace. In-depth yet inherently readable, this value investing guide will show you how to assemble a strong portfolio of value stocks built to withstand temporary market gyrations--and make you wealthy over the long term.
Proven effective by decades of investors from Benjamin Graham through Warren Buffett, value investing is an essential strategy for making intelligent investment decisions in turbulent times. Let The Five Key Steps to Value Investing put you on the right road to becoming a value investor, buying today's best-run companies at a discount and selling them at a premium--if you decide to sell them at all.