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Synopsis: "As with his weekly column, James Montier's Value Investing is a must read for all students of the financial markets. In short order, Montier shreds the 'efficient market hypothesis', elucidates the pertinence of behavioral finance, and explains the crucial difference between investment process and investment outcomes. Montier makes his arguments with clear insight and spirited good humor, and then backs them up with cold hard facts. Buy this book for yourself, and for anyone you know who cares about their capital!"
—Seth Klarman, President, The Baupost Group LLC
The seductive elegance of classical finance theory is powerful, yet value investing requires that we reject both the precepts of modern portfolio theory (MPT) and pretty much all of its tools and techniques.
In this important new book, the highly respected and controversial value investor and behavioural analyst, James Montier explains how value investing is the only tried and tested method of delivering sustainable long-term returns.
James shows you why everything you learnt at business school is wrong; how to think properly about valuation and risk; how to avoid the dangers of growth investing; how to be a contrarian; how to short stocks; how to avoid value traps; how to hedge ignorance using cheap insurance. Crucially he also gives real time examples of the principles outlined in the context of the 2008/09 financial crisis.
In this book James shares his tried and tested techniques and provides the latest and most cutting edge tools you will need to deploy the value approach successfully.
It provides you with the tools to start thinking in a different fashion about the way in which you invest, introducing the ways of over-riding the emotional distractions that will bedevil the pursuit of a value approach and ultimately think and act differently from the herd.
From the Inside Flap:
"James Montier combines a profound understanding of behaviorial finance with a fierce adherence to the tried and tested principles of value-investing. He is always readable, thought-provoking and, above all, correct."
—Edward Chancellor, author of Devil Take the Hindmost: A history of financial speculation
"James' latest effort is a must read. It combines great academic and practitioner approaches written in a humorous and entertaining style. It has practical real world examples that don't require advanced mathematics to comprehend. I advise everyone to read and study this wonderful book. All of my students now have Value Investing: Tools and Techniques for Intelligent Investment to add to their required reading."
—Mark Cooper, Partner at Omega Advisors & Adjunct Professor at Columbia Business School
"A preponderance of evidence shows that successful long-term investing requires a strong value orientation and a proper temperament, virtues commonly blunted by behavioural and incentive-based biases. Montier, a leading light in value investing and behavioural finance, shows you what’s wrong with standard investment thinking and offers important insight into how to improve your process. Read Value Investing, live its lessons, and prosper."
—Michael J. Mauboussin, Chief Investment Strategist at Legg Mason Capital Management, and author of Think Twice: Harnessing the Power of Counterintuition
Title: Value Investing: Tools and Techniques for ...
Publication Date: 2009
Book Condition: Used: Good
Book Description Wiley & Sons, Incorporated, John. Hardcover. Book Condition: Good. Ex-Library Book - will contain Library Markings. Book shows minor use. Cover and Binding have minimal wear and the pages have only minimal creases. Bookseller Inventory # G0470683597I3N10
Book Description Wiley, 2009. Hardcover. Book Condition: Acceptable. No dust jacket. Item is intact, but may show shelf wear. Pages may include notes and highlighting. May or may not include supplemental or companion material. Access codes may or may not work. Connecting readers since 1972. Customer service is our top priority. Bookseller Inventory # mon0001264273
Book Description Book Condition: Good. Well kept hardcover with jacket, mild reading wear, unmarked text, good copy. We take great pride in accurately describing the condition of our books, ship within 48 hours and offer a 100% money back guarantee. Bookseller Inventory # 1M5FFL000F0R_ns
Book Description Wiley, 2009. Hardcover. Book Condition: Good. Item may show signs of shelf wear. Pages may include limited notes and highlighting. Includes supplemental or companion materials if applicable. Access codes may or may not work. Connecting readers since 1972. Customer service is our top priority. Bookseller Inventory # mon0000839810
Book Description Wiley. Hardcover. Book Condition: Fine. 0470683597 Clean and Unmarked Copy. Bookseller Inventory # TRD000137275
Book Description Wiley, 2009. Book Condition: Good. A+ Customer service! Satisfaction Guaranteed! Book is in Used-Good condition. Pages and cover are clean and intact. Used items may not include supplementary materials such as CDs or access codes. May show signs of minor shelf wear and contain limited notes and highlighting. Bookseller Inventory # 0470683597-2-4
Book Description Wiley, New York, NY, 2009. Cloth. Book Condition: Near Fine. Dust Jacket Condition: Very Good to Near Fine Jacket. 394 pp. Tightly bound. Corners not bumped. Text is free of markings. No ownership markings. Size: 8vo - over 7¾" - 9¾" tall. Bookseller Inventory # 064407
Book Description John Wiley and#38; Sons, 2009. HRD. Book Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Bookseller Inventory # FW-9780470683590
Book Description John Wiley and#38; Sons, 2009. HRD. Book Condition: New. New Book.Shipped from US within 10 to 14 business days.THIS BOOK IS PRINTED ON DEMAND. Established seller since 2000. Bookseller Inventory # IP-9780470683590
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