- Series: Wiley Finance (Book 185)
- Hardcover: 512 pages
- Publisher: Wiley; 1 edition (January 20, 2003)
- Language: English
- ISBN-10: 0471345032
- ISBN-13: 978-0471345039
- Product Dimensions: 6.3 x 1.5 x 9.6 inches
- Shipping Weight: 1.8 pounds (View shipping rates and policies)
- Average Customer Review: 4.0 out of 5 stars See all reviews (13 customer reviews)
- Amazon Best Sellers Rank: #1,828,976 in Books (See Top 100 in Books)
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Investment Philosophies: Successful Investment Philosophies and the Greatest Investors Who Made Them Work 1st Edition
Use the Amazon App to scan ISBNs and compare prices.
There is a newer edition of this item:
Featured business titles
Sponsored by McGraw-Hill Learn more.
Frequently bought together
Customers who bought this item also bought
“…a complete guide to the approaches that is needed for those whose dream is to be rewarded vast wealth…”(Portfolio International, May 2003)
From the Inside Flap
Since the inception of the financial markets, investors have been bombarded with sales pitches from experts claiming to have found the secret formula or the magic model that guarantees investment success. In one corner, you have seasoned veterans telling you to buy businesses with solid cash flows and liquid assets because that's what worked for Warren Buffett. In another, you have financial professionals advising that in the new world of technology, you have to bet on companies with solid growth prospects. And still others recommend passive index investment as the way to outperform most active investors, or nontraditional investment strategies that have worked for a select group of successful hedge funds. The only thing this barrage of claims and counterclaims has created is investor confusion.
To successfully implement any investment strategy, you must first adopt an investment philosophy that is consistent at its core and which matches not only the markets you choose to invest in, but your personal preferences (risk tolerance, time horizons, etc.). In Investment Philosophies: Successful Strategies and the Investors Who Made Them Work, Aswath Damodaran will help you do this by going beyond the simple explanations of traditional and alternative investment strategies, to discuss the individual underlying philosophies that support these techniques.
Investment Philosophies explores many of the time-tested investment philosophies that investors have used over the years-from value investing and growth investing to technical analysis and market timing-and discusses some of the investors who made these philosophies work. This unique book will expose you to a wide range of investment philosophies to give you a sense of what drives investors in each philosophy, how they attempt to put these philosophies into practice, and what determines ultimate success. Damodaran offers an unbiased forum for the presentation of different investment philosophies, while supplying you with the tools-the definition and measurement of risk, the notion of market efficiency and how to test for inefficiencies, the components and determinants of trading costs-and the empirical evidence to make your own judgments on the investment philosophy that fits your specific investment goals and views of how markets work.
Filled with valuable insights, useful formulas, and comprehensive charts, this book provides you with the tools to pick an investment philosophy that is right for you. With Investment Philosophies as your guide you can be more confident in the way you or your fund managers invest.
Browse award-winning titles. See more
If you are a seller for this product, would you like to suggest updates through seller support?
Top Customer Reviews
The book is broken down into two segments. The first gives a primer in finance theory which is useful to those who are beginners as well as those with more intermediate knowledge. The first segement is essentially a mini-textbook on finance related to investments. It is extremely handy and very well laid out. The second segment of the book uses the tools developed in the first to analyze various investment philosophies. Damodaran bases nearly all his arguments on academic research. That is, he does not make any claims without backing them up.
There is little new information in this book, although there are results of a few very recent research projects. The value of this book is in the organization of information already available, and of course in the theoretical framework of the "investment philosophy" that he lays out. It is important to note that Damodaran's definition of investment philosophy is not without dispute. Most investmentment philosophies used in practice do not meet his criteria. So, he is really making an argument for looking at investment philosophies in a new way. It is my belief that this new way is superior to what is currently in use.
My reservation is that he leaves the reader with the impression that MPT is the only way of looking at markets and examines all trading styles within that framework. Thus he has only one philosophy and a list of techniques. In fact many of the investment greats have deep philosophical and methodological differences which are not acknowledged.
For example without any qualification, risk is defined as volatility. Despite having Buffett on the front cover there is no reference to the fact that Buffett completely disagrees with that definition and has contempt for the theories that are taught at Business Schools.
Most Recent Customer Reviews
1) The thought processes that lie behind various investment strategies (i.e.Read more