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While you've probably heard numerous "financial experts" talk about the many ways to make money in the markets, the fact is, there's only one strategy that has truly proven itself over the years. Thanks to the foundation laid out by Benjamin Graham and expanded upon by Warren Buffett and others, value investing—which consists of buying the stock of companies that trade for less than their intrinsic value in order to maximize return while minimizing risk—has helped countless individuals consistently build wealth by avoiding permanent capital loss.
Successful value investors have an ingrained mental framework through which all investment decisions are made. This framework, which stems from Graham's belief 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 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.
Develop a sound investment philosophy
Have a good search strategy
Know how to value a business and assess the quality of management
Have the discipline to say no
Practice the art of patience
Have the courage to make a significant investment at the point of maximum pessimism
Along the way, you'll become familiar with specific case studies that illustrate how to approach investing in an intelligent, businesslike fashion. Each one—all of which were actual investments made by the author at one time or another in his career—offers a different way to determine whether a company under investigation is indeed a bargain investment opportunity.
For those willing to put forth the effort and show some patience, the stock market offers the greatest forum for wealth accumulation. Filled with in-depth insights and practical advice, this reliable resource can help you make the most of your time in today's markets, by following a value-oriented approach to investing that continues to make sense.
"Sham Gad's The Business of Value Investing is an excellent primer on value investing. The book chronicles the step-by-step process of successful value investing. It will keep you reading and learning. And learn you will."—Vitaliy Katsenelson, Director of Research at Investment Management Associates, Inc., and author of Active Value Investing: Making Money in Range-Bound Markets
"Sham Gad's new book does a great job ofteaching the most important lesson in the business world:discipline, a predefined and strictly adhered-to philosophy,temperament, hard work, and a willingness to learn from mistakes are much more important than innate¿IQ. The Business of Value Investing spells out exactly what Warren Buffett means whenhe says, 'I am a better businessman because I am an investor;I am a better investor because I'm a businessman.'"—Mark Sellers, Managing Partner, Sellers Capital, LLC
This was my first book on "value investing", read it on the kindle. It definitely has a fantastic tone, one reviewer mentioned 'repetitive' as in 'parenting', will this is slightly... Read morePublished on March 17, 2013 by fjs
The Book written by Sham M. Had shows the averageor exprianced investor that investing in stocks is is buying a piece of a business with the six elements of intellgent investing... Read morePublished on January 22, 2011 by gene
If you want to understand how Mr. B values companies, buy this book. He explains everything in simple terms, unlike other authors who believe in complex formulas and splicing the... Read morePublished on April 17, 2010 by D
I've read hundreds of value investing books, and I have to say this is one of the best. Mr. Gad shows you how to invest using real world examples based on Warren Buffett's... Read morePublished on March 24, 2010 by Jonathan Herson
Mr. Gad does an excellent job stressing discipline & value in modern investing. He uses relatively recent examples to stress his points. Read morePublished on February 8, 2010 by sobo
In the book's twelve chapters, the first three explain why finding under priced assets works, the next six teach a method for finding, analyzing, and acting on investing in these... Read morePublished on December 30, 2009 by Geoffrey P. Cole