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J**K
The best investing book I have read
I've read over 100 investing books but this is the best I have read so far.The author talks about many qualitative aspects of investing which is at the core of successful investing.He talks about important fundamentals, as well as the psychological factors that you need to know to pick superior stocks.
B**3
Classic Buffettesque book
This book takes the perspective of the extremely long term investor focused on finding compounding machines in the public markets. It is geared towards the investor who spends the bulk of the investment time on the diligence process rather than trading and who is focused on buy and hold to an extreme (10+ years). The investor who benefits from this book is a rarity in today's hyper short term focused "investor" aka speculator. This book is worth its weight in gold if one can effectively implement the concepts described here. Although it is conceptually simple, the ideas in this book are more powerful than the other investment concepts in the market today.
A**V
good book to think about stock market
It is a good book to see an examples of 110 to 1 growth in the last century. To think about what made some companies so outstanding and how to spot them in the current market.
M**E
This is an Outstanding Book
This is dated, but the underlying information still holds true today. I wish someone would have told me to read this when I first started investing. I highly recommend it!
M**I
Classic
This book is an investment classic that Chuck Akre says had a big influence on him. The "how" to identify stocks with phenomenal long-term potential gives great answers, but some readers will be disappointed there aren't specific instructions with a check list or screener (if it were that easy, we'd all be billionaires). The "why" you should use this long-term investment approach is why makes this book great. The author has a talent for writing and there are some great one-liners and paragraphs worth quoting.
A**R
Timeless book.
Anyone with a little patience and thoughtful openness will benefit from the truths behind this book. In our fast past world this is truly a contrarian book packed with exceptional wisdom and a vision that takes you outside of todays investing norm. Highly recommend!
T**N
a classic
one must remember and understand the many pitfalls of hindsight bias in performing such a retrospective journey. but the many lessons of this important work make this an indispensable investment classic for the serious investor.
D**G
I feel this is more like an interesting historical read -- and one that's superbly ...
I appreciate and admire this book for the writing. In this interesting work, you'll find well-formed English applied in clear, exceptional prose. It really reminds me of an era of writing (and editing) that is mostly lost today. It is, in fact, a five-star example of clear, correct writing.Unfortunately, in my view, the investing approach Phelps espouses is completely untenable. It advocates techniques with profoundly low probability for success. The author is encouraging others to hunt for unicorns because, don't you see, unicorns exist: "Here's one (points to one stock). And here's another (points to another chart)." Many, many would-be investment paths are littered would would-be unicorns, and for every Buffet who has managed to wrangle a whole stable of them, there are literally millions of market participant --extremely smart, capable ones -- who hold the same goal but fail miserably. And that is the problem: flipping a coin a thousand times on one side is possible, but it's extremely improbable.If I were rating this book on the validity of the ideas, it would be a one-star rating. However, I feel this is more like an interesting historical read -- one that's superbly written.
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