A ZEBRA IN LION COUNTRY: The Dean Of Small Cap Stocks Explains How To Invest In Small Rapidly Growin [Hardcover]

Ralph Wanger (Author), Everett Mattlin (Contributor)

Book Description

Publication Date: April 21, 1997

Ralph Wanger explains the principles of investing in small, rapidly growing companies whose stocks represent good value. Anyone who invested $10,000 in his Acorn Fund at its inception in 1970 would have $618,000 at the end of 1996. But whether you are investing in mutual funds or buying individual stocks on your own - or doing both - A Zebra in Lion Country offers an investment philosophy that will carry you through the rough spells and bring you greater wealth over the long term. Famed for his witty, insightful reports to shareholders, Wanger displays his irreverent savvy in this guide to locating small company "value" stocks that will yield well-above-average returns. As the title suggests, investors are like zebras in lion country: They must settle for half-eaten grass in the middle of the herd, or seek fresh grass at the outer edge, where hungry lions lurk. Wanger shows every investor how to achieve the right balance of safety and risk, and imagination and discipline, to survive and prosper in the investment jungle. Destined to become a classic in the field of investing, A Zebra in Lion Country is as entertaining as it is instructive.

Editorial Reviews

From Library Journal

Wanger has managed the highly successful Acorn mutual fund for over 25 years, investing in undervalued but financially sound smaller companies with superior growth potential. Because there are so many stocks to evaluate, Wanger first looks for growth themes and then identifies specific companies. He doesn't believe in market timing and considers mutual funds to be the best option for most investors. Like Peter Lynch and John Rothchild's One Up on Wall Street (S. & S., 1989), this book does a good job of explaining the basics of investing in a nontechnical and often amusing manner, though it is largely limited to Wanger's own investing experience. Recommended for general and informed readers interested in investing.?Lawrence Maxted, Gannon Univ., Harborcreek, Pa.
Copyright 1997 Reed Business Information, Inc.

Review

Don Phillips Morningstar, Inc. Ralph Wanger's A Zebra in Lion Country is a delightful book. Few managers can match Wanger's investment prowess. Fewer still can share the secrets to their success with such wit and clarity. From novice to pro, every investor should read this book. -- Review --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Hardcover: 256 pages
• Publisher: Simon & Schuster; First Edition edition (April 21, 1997)
• Language: English
• ISBN-10: 0684829703
• ISBN-13: 978-0684829708
• Product Dimensions: 9.3 x 6.2 x 1.1 inches
• Shipping Weight: 12.8 ounces
• Average Customer Review: 3.8 out of 5 stars  See all reviews (18 customer reviews)
• Amazon Best Sellers Rank: #525,086 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

7 of 7 people found the following review helpful:

3.0 out of 5 stars Easy read, broad concepts - for the mutual fund investor, June 5, 2005

By 

hian (Singapore) - See all my reviews

This review is from: Zebra In Lion Country: The Dean Of Small Cap Stocks Explains How To Invest In Small Rapidly Growin (Paperback)

If you are looking for a book on how to pick small cap stocks, this book is not for you.

If you are looking for reasons why mutual funds are better off than picking stocks on your own, this book will offer you many such reasons.

Mr Wanger invests in what I would conclude as a fundamental-value style and indeed there are certain principles that a reader may be able to extract and apply to his own stock picking approach, eg investing in themes, buying value etc.

However, the more I read, the more the book seemed to promote mutual funds for the lay investor. Depending on your personal preferences, that may indeed be the way to go for some of you.

I offer the following quote from page 237 as a summary of this book:

'Don't overpay, no matter how much you like a company. Invest in themes that will give a company a long-term franchise. Invest downstream from technology. Think and invest globally. Find stocks to own, not trade.'

5 of 5 people found the following review helpful:

5.0 out of 5 stars A must-read for small-company stock and fund investors!, September 23, 1997

By 

[e-mail] (California, USA) - See all my reviews

This review is from: A ZEBRA IN LION COUNTRY: The Dean Of Small Cap Stocks Explains How To Invest In Small Rapidly Growin (Hardcover)

Ralph Wanger writes about his investment philosophy and his experiences while managing the Acorn Fund (spanning over 25 years, and encompassing varied stock-market environments) in this `un-putdownable' book. Most investors know that the phrases "disciplined investing" and "small-cap stocks" generally don't go together. In an area where gunslingers dominate the scene, Wanger's approach, explained by him in his inimitable humorous style, comes across as a breath of fresh air. "A Zebra Among the Lions" will be useful both for mutual fund investors and for those who want to invest in small-cap stocks on their own. Chapter 6 ("Themes and Variations") and chapter 7 ("Downstream from Technology") are of particular interest -- Wanger not only explains his investment philosophy in detail here, but also gives helpful pointers to those who have the time and the inclination to venture into the small-cap world on their own. And for those who prefer to stick to mutual funds, he provides a yardstick by which to evaluate their fund managers. Wanger also elaborates on the opportunities in international small-cap investing (and its importance in the coming years and decades) in Chapter 11 ("While You're at It, Include the World"). Finally, in Chapter 12 ("Parting Reminders"), he offers valuable guidelines that the investor has to keep in mind in order to achieve success. In summary, Wanger explains how it is possible for the zebra (the investor) to eat fresh grass (get attractive returns) and yet, minimize the chances of being attacked by the lions (losing money in the market)! "A Zebra Among the Lions" shatters the myth that small-cap investing has to be tumultuous and risky. Quite to the contrary, it can be systematic and rewarding. And fun too! If you find this a little hard to believe, I strongly recommend that you read this book!

2 of 2 people found the following review helpful:

3.0 out of 5 stars A Zebra in Lion Country, December 11, 2002

By 

irishpmk18 (Kansas) - See all my reviews

This review is from: A ZEBRA IN LION COUNTRY: The Dean Of Small Cap Stocks Explains How To Invest In Small Rapidly Growin (Hardcover)

The information within this book is worth knowing, but the majority of the information is either common knowledge or redundant examples. Ralph Wanger certainly does share his method for success, which has worked for him, but he does not hold any "secrets" for dramatic results (because no one really knows these secrets).
This book can enlighten a person on some aspects of the "market world," but this book contains no vital information on surviving the stock market, which is stated in the introduction. Wanger only presents the method he uses, and if someone could use one of his ideas to produce a profitable strategy, this book is worth reading.
I, personally, did not enjoy this book, but I did not dread reading it. The useful information contained in this book could have easily been displayed in maybe 15-20 pages. The rest of the book is examples of things to further induce his key points.
I would not recommend this book, but if a novice trader had absolutely no idea about what goes on in the stock market, this book may give some helpful ideas.