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Wisdom on Value Investing: How to Profit on Fallen Angels Hardcover


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Product Details

  • Hardcover: 208 pages
  • Publisher: Wiley; 1 edition (October 5, 2009)
  • Language: English
  • ISBN-10: 0470457309
  • ISBN-13: 978-0470457306
  • Product Dimensions: 9.3 x 6.3 x 0.8 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.3 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Best Sellers Rank: #1,476,254 in Books (See Top 100 in Books)

Editorial Reviews

Review

“If you are looking for a book that explains how to screen stocks for a long-term investment, then start with Wisdom on Value Investing. You'll find it as entertaining as it is informative. His tips just might make you a bundle of money, or protect you from costly mistakes.”
Thomas Bulkowski, thepatternsite.com, October 2009

“ … I liked this book because it presented value investing in a way that wasn’t intimidating. It touched on a lot of investing topics, such as portfolio management and categorizing Fallen Angels, and subjects I haven’t even mentioned and does so in a very casual and conversational way.”
Jim Wang, bargaineering.com, January 2010

"You really can become a better investor if you pay attention to fundamentals, and look for investments that are underpriced but have good upside potential. You may not score big in a year or two, but you are more likely to see steady gains over the years if you employ some of the techniques in Wisdom's book." ”
Miranda Marquit, AllBusiness.com, February 2010

From the Inside Flap

Like sheep, we tend to follow a herd mentality—we flock to box office hits, buy the latest in fashion and gadgets—and buy and sell stocks based on the ebb and flow of financial pundits and mainstream investors.

Investing in the stock market is one place, though, where it pays to be a lone wolf. Turn on the TV or pick up a newspaper during times of market turbulence, and watch investors act like lemmings marching to sea. Unfortunately, they are also setting themselves up for failure—and devastating losses.

In Wisdom on Value Investing: How to Profit on Fallen Angels, seasoned investment adviser and popular broadcaster Gabriel Wisdom lays out a different kind of vision for investing in the stock market, or any other market—one that promises to put you on a unique path to success, far from the anguished cries of the investing masses. Wisdom makes the argument that, rather than following fashion, the smart investor stays calm and waits patiently for the incredible deals—the Fallen Angels—that are certain to come along.

Based on Wisdom's professional experience and his popular Fallen Angels investment strategy—which is part classic value investing and part behavioral finance—this wise, easy-to-follow guide reveals:

  • How to maximize earnings and minimize losses in any type of market

  • The habits of successful investors

  • Why you should buy when everyone is complaining and sell when they are celebrating

  • The importance of having an exit strategy

  • Why we need to learn to live with stock market volatility

Preparing you to take advantage of others' mistakes, Wisdom on Value Investing clearly discusses how stocks with the most promise are ones that Wall Street has temporarily marked down without regard to their underlying value, and explains how this type of value discount provides a margin of safety during difficult times and substantial upside rewards for those who find them early enough.

With this tool for investors of all stripes—whether you have been at the game for a while or are just dipping your toes in the market for the first time—Gabriel Wisdom offers his time-tested, popular strategy to getting a leg up on the complex and difficult art of investing.


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Customer Reviews

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Most Helpful Customer Reviews

6 of 7 people found the following review helpful By Andrew Szabo on November 7, 2009
Format: Hardcover
There is a pun in the title of the new book, Wisdom on Value Investing (John Wiley, 2009). The author is Gabriel Wisdom, and what he sets out is wisdom concerning the "value investing" style.

Wisdom is a co-founder of American Money Management, LLC and President of the Fallen Angel family of mutual funds. According to the book jacket, he has managed "more than a billion dollars for wealthy investors since 1983." He hosts a daily program on Business Talk Radio Network.

The author favors "fallen angels"--securities offered at prices below their intrinsic value. There are three sources of such situations, he says: the business cycle, excessive pessimism in the market and a one-time "calamity befalling an otherwise sound company" (pp. 18-20). He urges the reader to follow a contrary stance, against prevailing sentiment in the market.

Wisdom suggests as standards of value a number of financial statistics followed by most value investors, including the price to earnings ratio, debt level, return on equity and free cash flow.

One question that many investors puzzle over is when to sell. Wisdom cites three signals: first, if the reason you bought is no longer valid; second, if profits come sooner than expected (in other words, don't succumb to over-optimism); third, if a better opportunity comes along. In practice, those who have an eye for something worth holding a long time are probably best suited for the value style of investing. I'm not sure if Warren Buffett has ever unloaded a company, although a few of his picks (especially early on, such as Dexter Shoe) came out poorly.
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2 of 3 people found the following review helpful By Bennett McDowell, TradersCoach.com on November 6, 2009
Format: Hardcover
Wisdom is right on the money with his new book. Isn't it true that when everyone else experiences fear, it is the best time to swoop in for the greatest opportunity? Of course it is all about knowing how to seize the opportunity and profit from it. You'll learn that here, how to find the stocks that are down but have a high probability to rise. I also like how Wisdom is not afraid of having an exit strategy, which most financial advisors don't generally understand the importance of. When you've got markets plummeting at 1,000 points a clip, wouldn't it make sense to exit your long positions before the crash? Yes, it does, and Wisdom shows you how. Bottom line is if you want to profit from value investing this book will get you on the right track.

PS: Michael Moore, portfolio manager, has a great quote in the book "...Successful investing isn't rocket science; it's harder..." that sums it up nicely.
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2 of 3 people found the following review helpful By Amazon Book Lover on November 5, 2009
Format: Hardcover
Gabriel Wisdom has a financial radio show that plays in my area every day at 4:00 pm and when I'm in the car driving around town its fun to listen in. He's always had great guests on his show from value and fundamental investors to technical analysis traders and everything in between. His knack for summing up the material in an easy to comprehend way is refreshing.

What I like about his book, Wisdom on Value Investing, is how in Chapter 10 he shows exactly how to pick what he refers to as "Fallen Angels". These are high quality stocks that have fallen in price, and as Wisdom says, "...the best time to buy stocks - or anything else - is when no one else wants them...". My approach has generally been to use charts and technical analysis. This book is getting me started on blending in more fundamental concepts into the mix like evaluating revenue growth, earnings growth, and return on equity and debt to equity ratios. It will enable me to filter some of my investments and trades with a new perspective.

These days we all have to focus on our investments more closely to prevent damage to our portfolios. This book is recommended for doing just that.
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