- Hardcover: 320 pages
- Publisher: AMACOM; First edition (June 8, 2017)
- Language: English
- ISBN-10: 0814438563
- ISBN-13: 978-0814438565
- Product Dimensions: 6.5 x 1 x 9.2 inches
- Shipping Weight: 1.4 pounds (View shipping rates and policies)
- Average Customer Review: 10 customer reviews
- Amazon Best Sellers Rank: #729,075 in Books (See Top 100 in Books)
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Money Machine: The Surprisingly Simple Power of Value Investing Hardcover – June 8, 2017
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“…Smith became an independently wealthy multimillionaire by investing in stocks. In his new book he reveals how smart value investing made that happen.” —Think Advisor
Put your money to work—the smart way.
Overheard a seductive stock tip? Saw a story on a promising new product? Stop chasing quick payoffs that will never pan out. If you want to succeed in the market, start thinking of stocks as money machines.
Investing in the market doesn’t have to be reckless speculation—gambling on guesses about zigs and zags in stock prices. Money Machine explains how to invest based on value, selecting stocks that will continue to enrich you for years to come. Value investing is the secret to the success of Warren Buffet, Benjamin Graham, and other Wall Street legends. It can be your secret, too. Discover how to:
• Judge a stock by the cash it generates • Determine its intrinsic value • Use key investment benchmarks such as price-earnings ratio, dividend-price ratio, q ratio—and the Bogle and Shiller models • Recognize stock market bubbles and profit from panics • Avoid psychological traps that can trip you up • And more
The stock market is not a get-rich-quick scheme. But it is the best way to achieve the financial success you’ve always dreamed of. Money Machine will help you make those dreams come true.
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everything is written in plain english and easy to understand.
the "value investing applied" section is a bit weak, especially for the "stock picking" chapter. basically he just uses the P = D/(r-g) model in a greatly simplified way. not much attention is given in analyzing how sustainable earnings and dividend payouts actually are. this is essential to estimates of intrinsic value.
there are other books on the market which will teach better valuation techniques, accounting, and strategy analysis for the serious investor (ben graham, damodaran, greenwald..etc). i suggest the author include ways to analyze individual companies (revenues, margins, capex, balance sheet).
one new thing i gained from the book is the way to estimate the intrinsic value of a home via housing dividends. this is especially important since people often attach sentimental value on housing, especially if they live in it. this chapter alone is worth the price of the book if it saves anyone from taking on crippling mortgage debt and/or overpaying for a house.
Anyone who wants to work hard at value investing should first read Ben Graham's "The Intelligent Investor" with the added commentary by Jason Zweig. If you don't want to work hard, by an S&P Index fund as advised by Warren Buffett.