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All too often, investors buy stocks based on either recommendations from other investors, hunches, or isolated facts about a business they've heard or read about. In doing this, your decision-making process becomes dangerous because you haven't taken the time to thoroughly understand the businesses you are buying and you're relying on the information, or misinformation, being provided to you about a particular stock. Instead, your investment purchases should be based on understanding the value of a business through in-depth research. If you truly understand the value of a business, then you will be in a position to recognize investment opportunities and can more easily make the right buy or sell decisions.
The Investment Checklist has been designed to help you develop an in-depth research process, through a series of checklists, that will allow you to effectively generate and research investment ideas, assess the quality of a business and its management team, and ultimately improve the performance of your portfolio. In it, author Michael Shearnfounder of Time Value of Money, LP, and the Compound Money Fund, LPoutlines the systematic process he has used over the past decade to carefully think through potential investments and avoid common investment mistakes. Along the way, he puts this approach in perspective by addressing:
A search strategy that will improve your odds of finding investment ideas worth researching further
The importance of evaluating a business's strengths and weaknesses, measuring its operational and financial health, and understanding a business from the customers' perspective rather than your own
Why assessing the quality of management from how they handle daily operations and long-term strategy to the type of managers they are and how they rose to lead the businessare essential to achieving better investment results
How to gauge the potential future growth opportunities of a business by looking at whether it's growing organically or through merger and acquisitions, and whether historical growth has been profitable
And much more
Each chapter of The Investment Checklist also offers countless examples of companies the author has researched, considered investing in, and actually invested in or decided not to invest in. These examples show you exactly how his checklist helped him make investment decisions, and they'll show you how to do the same. In addition, each chapter ends with "Key Points to Keep in Mind," so you can zero in on the critical factors in each set of questions.
If you want to lower your investment risk you need to increase your knowledge of the businesses you buy stock in. The Investment Checklist will show you how to do this, and much more, by helping you follow a concise and easy-to-use framework that will guide your investment decisions.
Praise forTHE INVESTMENT CHECKLIST
"Every wise investor will keep The Investment Checklist next to their financial instrument panel and consult it whenever they make a decision to buy or sell a stock."Robert P. Miles, author, The Warren Buffett CEO
"Michael Shearn has written an indispensable book. It will raise the game of every investor who reads it. Fortunately, not all of them will." Judd Kahn, co-author, Competition Demystified and Value Investing: From Graham to Buffett and Beyond
When you base your stock purchase decisions on isolated facts and don't take the time to thoroughly understand the businesses you're buying, costly investment mistakes are usually made. Instead, your investment purchases should be based on understanding the value of a business through in-depth research.
That's why Michael Shearnfounder of Time Value of Money, LP and the Compound Money Fund, LPhas created The Investment Checklist. In it, he shares the successful approach he's used over the past decade to generate and research investment ideas, assess the quality of a business and its management team, and ultimately improve his overall investment performance.
Along the way, you'll be introduced to specific "checklists" that will enhance your ability to understand the dynamics of the business you're interested in and the people operating it, value the potential investment, and make the most informed buy or sell decision possible. Each chapter also contains countless examples that show you exactly how the author's checklist has helped him make the right investment moves over the course of his successful professional career.
Whether you're just starting out and thinking about what you want to invest in, or already have a portfolio that you want to manage more effectively, The Investment Checklist has the tools and insights you need to improve your investment endeavors.
The mind constantly plays tricks with investors. In a stressful - potentially loss-making - situation the negative pressure risks short-circuiting our analytical ability and when... Read morePublished 1 month ago by investingbythebooks
Very insightful and uncovers a lot of qualitative criteria ignored by some investment analysts.Published 2 months ago by Isom Adiari
Very thorough. Best book on investment analysis I've ever read.Published 2 months ago by Robert H. Ohlwiler
Great reference for new or experienced investor for setting up a research program and work process for finding out relevant information about companies and the people who run themPublished 3 months ago by MFSI
I used to be an analyst for a mutual fund 25 years ago and recently retired and decided I want to get back to individual stock analysis. Read morePublished 3 months ago by Amazon Customer
This is common sense but introduced in a way that teaches you how to think about companies, e.g.,why cash flow is important, how it can be affected, how yearly reports can be... Read morePublished 5 months ago by M Wheatley
For those who do not use checklists the idea of using a checklist for such a holistic process might come at a helpful surprise. Read morePublished 6 months ago by Fabio P Noronha
If you just need one book in equity investing, I think this would be it. There are very few books that rival this one in terms of breadth and depth in terms of the number of... Read morePublished 7 months ago by JHMC
Buffet's letters are great, but they tell you the same thing - "Buy great businesses at favorable prices". Read morePublished 8 months ago by Jonathan