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The Guru Investor: How to Beat the Market Using History's Best Investment Strategies Hardcover – February 3, 2009
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From the Inside Flap
John Reese breaks down the very different approaches of each of the gurus—encompassing value, growth, and quantitative investing—and lays out their philosophy and achievements, detailing step-by-step the secret formulas they used to beat the market, while explaining why these legendary investors consider certain factors to be so important when analyzing individual stocks.
Reese not only discusses the individual gurus, their strategies, and why they are important, but he also explains how to best use these strategies in the real world, showing how to sift through all of the choices to find a strategy that works for you. The model portfolio system that the author has developed turns each strategy into an actionable system, addressing many of the common mistakes that doom investors to failure. In addition to offering these individual guru-based models, Reese also explains how to combine and implement these approaches into a multi-guru system that will provide you with a comprehensive, practical stock investing strategy with a proven track record. He reveals when you should buy, when you should sell, how many stocks you should own, and much more.
All investors can learn from the thinking, writing, and experience of Wall Street's greatest investors. The Guru Investor, and its free companion Web site—www.guruinvestorbook.com—will teach you the lessons of these greats and give you all the tools needed to put those lessons to work in your investment strategy.
From the Back Cover
A detailed look at the successful strategiesused by some of the world's best investors
What can we learn from those rare investors who have consistently generated outstanding returns over the long haul? In an easy-to-read and simple format, The Guru Investor dissects strategies from ten of Wall Street's greatest investment "gurus" and shows exactly how to implement those strategies to improve your own long-term investment results.
This book offers a step-by-step guide to the investment methodologies of Warren Buffett, Peter Lynch, Joel Greenblatt, James O'Shaughnessy, David Dreman, John Neff, Benjamin Graham, Ken Fisher, Joseph Piotroski, and Martin Zweig. Based on the model portfolio system that the author has developed, each strategy is turned into an actionable system that systematically addresses many of the common mistakes that hurt individual investors' long-term investment results.
In addition, The Guru Investor shows how you can combine the proven strategies of these legendary gurus into a disciplined investing system for building and managing portfolios—including the author's key rules for when to buy, when to hold, and when to sell.
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Top Customer Reviews
The 6 principles of "Guru Investing" (what I personally called investing philosophy):
1. Combining strategies to minimize risk and maximize returns
2. Stick to the numbers or the market will stick it to you
3. Stay disciplined over the long haul
4. Diversify, but you can't beat the market by owning it
5. Size and style - focused systems only limit investment possibilities
6. You don't have to hold stocks for the long term to be a long term investor
1. practical and succinct
2. covers most of the investing legends strategies and their "story" (Warren Buffett, Benjamin Graham, Peter Lynch, David Dreman, Ken Fisher etc)
3. Covers many important financial ratios
4. Covers in depth the topic of "Determining when to sell"
5. Relate to the audience well (as someone who is trying to learn about investing from the investing greats)
6. Includes interesting facts in the fact box (or key learning) for each chapter or for each important topic.
7.Read more ›
Well, now I get to review his book, and I have to say that I like it. It won't be one of my favorite investment books, but it embeds many good ideas that will be useful to average investors. Here are some of the main advantages:
1) It points people toward strategies that are valuation-conscious. Whether investing for growth or value, the best investors pay attention to valuation.
2) Valuation is not everything. Earnings growth and price momentum also are valuable to follow.
3) Quality of the balance sheet matters.
One of the things that I like to say to investors is find something that fits your character, your free time, and your time horizon. This book simplifies the strategies of ten clever investors. Some require more time and effort, some less. With ten good strategies to choose from, perhaps one will fit your situation well.
For the ten gurus, it describes them, their strategies, and how to implement them in a simplified way. I knew a little about all of the gurus before reading the book, but I learned a little bit new about each one, except Buffett. They made life choices that led them to their investment theories, and the book makes that connection.
The sell disciplines in the book are similar to mine -- rebalancing, and adding stocks that the model likes better, and removing those that rank lower. For fundamental investors, that's a reasonable way of limiting risk, assuming that you review your thesis before adding new money.Read more ›
The book will give you the knowledge you need to pick stocks using stock screeners based on price to sales ratios, price to earnings ratios, book value, liquidity, earnings growth, and many other metrics you will learn from the gurus. There is also a free companion web site that gives three stocks for each guru that currently meet their guidelines. The book recommends sticking with a strategy for the long run to really get results. It also explains the need to balance your portfolio at regular intervals, and sell stocks when the fundamentals have changed or they get involved in an accounting or other scandal. Excellent book for getting started in investing or for improving your investing performance.
The authors have analyzed and simplified the methods of ten famous investors having successful long term records. They have developed an approach to combining these methods in a number of ways, including their own proprietary combination. This book is not for daytraders but is appropriate for position traders and longer-term investors.
There is a nice bonus. Having the book allows you to sign up for the free portion of the authors' valididea.com web site. There, you can see up-to-date ideas using the techniques of the famous and successful investors analyzed in the book.
The other reviews here do a good job of summarizing the key points and the pros and cons of the book. So, keeping this short, I recommend buying this book. You might also benefit by reading this together with "Trade Like an O'Neil Disciple" by Gil Morales, which I have also reviewed.
Most Recent Customer Reviews
The author does cover the background and general investing techniques of investment legends but it felt as though the author wrote the book really as an endorsement and promotion. Read morePublished 16 days ago by Amazon Customer
absolutely useless wheter you are a beginner or a professional investor, a waste of time and money, all the reviews must be fake.
DO NOT BUY THIS BOOK!!!!
Goes over the strategies of guru investors and how they can be reduced to rules. But the book is full of padding. Read morePublished on June 5, 2013 by vildegrul
A great book, that shows there is no single holy grail of investing. On the other hand there is more than 1 way to beat the market in the long term. You have to do the math. Read morePublished on August 20, 2012 by A. Brenninkmeijer
If you are a beginner, student or even a professional I recommend this book. The important about this book is that you can compare strategies and how they approach the market. Read morePublished on May 1, 2012 by Frank V
This is an enjoyable discussion of the top guru strategies and a definition by which they are included. Read morePublished on March 15, 2012 by Samuel M. Cooper
If you're like me, and you've already read a lot about Lynch, Buffett, Graham, Zweig, Greenblatt, ... most of the information in this book will not be new to you. Read morePublished on October 7, 2011 by Straddle1985
This is an amazing book for anyone who doesn't gamble on wall street but actually wanna make money INVESTING in a company. Read morePublished on September 21, 2011 by RobeBryant
If you have read Contraian Investor, by David Dreman, then you get the jist of the book. It touches on the topic of value investing in an easy to understand manner. Read morePublished on May 10, 2010 by lowtidebob