Description : Robert G. Hagstrom is one of the best-known authors of investment books for general audiences. Turning his extensive experience as a portfolio manager at Legg Mason Capital Management into valuable guidance for professionals and nonprofessionals alike, he is the author of six successful books on investment, including The Warren Buffett Way, a New York Times best-seller that has sold more than a million copies. In this updated second edition of Investing: The Last Liberal Art, Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. He discusses, for instance, how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger's famous "latticework of mental models" concept, Hagstrom argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone. He reinforces his concepts with additional data and a new chapter on mathematics, and updates his text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. He has also added a hundred new titles to the invaluable reading list concluding the book. Praise for the first edition: "I read this book in one sitting: I could not put it down."—Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk "Elegant and irresistible. Robert G. Hagstrom makes the complex clear as he confidently crisscrosses through the disciplines of finance, biology, physics, and literature. The only way to understand investing better, [Investing] shows, is to understand the world better. Ideas spark off the page at every turn. This is simply a gem of a book."—James Surowiecki, New Yorker "Investing is a brisk and engaging read, and it is a pleasure to be in the presence of Hagstrom's agile mind."—International Herald Tribune
Description : From the author of "The Warren Buffet Way" comes a unique picture of investing within the larger world that draws parallels between the behavior of the economy and the stock market.
Description : Readers are introduced to some basic investment options. Sample math problems help illustrate that investing can be a great way to increase your wealth over time.
Description : Warren Buffett is the most famous investor of all time and oneof today’s most admired business leaders. He became abillionaire and investment sage by looking at companies asbusinesses rather than prices on a stock screen. The first twoeditions of The Warren Buffett Way gave investors theirfirst in-depth look at the innovative investment and businessstrategies behind Buffett’s spectacular success. The newedition updates readers on the latest investments byBuffett. And, more importantly, it draws on the new field ofbehavioral finance to explain how investors can overcome the commonobstacles that prevent them from investing likeBuffett. New material includes: How to think like a long-term investor – just likeBuffett Why “loss aversion”, the tendency of most investorsto overweight the pain of losing money, is one of the biggestobstacles that investors must overcome. Why behaving rationally in the face of the ups and downs of themarket has been the key to Buffett’s investing success Analysis of Buffett’s recent acquisition of H.J. Heinzand his investment in IBM stock The greatest challenge to emulating Buffett is not in theselection of the right stocks, Hagstrom writes, but in having thefortitude to stick with sound investments in the face of economicand market uncertainty. The new edition explains thepsychological foundations of Buffett’s approach, thus givingreaders the best roadmap yet for mastering both the principles andbehaviors that have made Buffett the greatest investor of ourgeneration.
Description : The Warren Buffett Way Workbook consists of over 500questions and answers to help readers of The Warren BuffettWay reinforce and cement their knowledge of Buffett’shugely successful investment approach. The Workbook followsThe Warren Buffett Way, 3e, providing a combination ofmultiple choice and essay questions for each chapter in the corebook. Given the depth and range of questions, a reader whomasters the material in the Workbook will be equipped with theknowledge to begin to apply Buffett’s methods to his/her owninvestment portfolio. All answers are provided in theWorkbook, including answers to the essay questions. Theperfect accompaniment to The Warren Buffett Way, 3e andThe Warren Buffett Way Video Course, the Workbookwill provide readers with a sure path to begin investing just likeWarren Buffett.
Description : THE IDEAL COMPANION TO THE WARREN BUFFETT WAY THIRD EDITION The Warren Buffett Way Workbook is the ideal complement to the Third Edition of The Warren Buffett Way—enabling you to review and reflect on how one of the greatest investors in history goes about his business. This comprehensive guide provides an invaluable opportunity to explore your understanding of the strategies and techniques covered in the main text, before integrating them into your own investment endeavors. The Workbook, which parallels the main book chapter by chapter, contains over 250 multiple-choice questions, with both answers and explanations of those answers, as well as over 200 essay exercises. Topics reviewed include: The basic set of principles, or tenets, that guide Buffett's investment decisions—whether he's buying a company outright or buying a piece of that business, in the form of shares of stock The focus investing style in which Buffett prefers to manage a portfolio How individuals from Benjamin Graham and Philip Fisher to Charlie Munger influenced the way Buffett sees investing The psychological challenges of managing a Warren Buffett portfolio as well as the role of patience in long-term investing And much more Also available, The Warren Buffett Way Video Course. Narrated by Robert Hagstrom, it effectively brings Buffett to life from both a professional and personal perspective.
Description : "The financial market is a complex system, but that doesn't mean it requires a complex strategy; in fact, this false premise is the driving force behind many investors' market 'mistakes.' Information is important, but understanding and perspective are the keys to better decision-making. This book describes [a] way to view the markets and your portfolio, and [outlines] strategies that [may] make investing more profitable, less confusing, and less time-consuming"--Amazon.com.
Description : Market players put their jobs on the line with every position they take. Any fixed income investor in the circumstance of being granted one wish would probably want to know what interest rates are going to do in the future. Economists and others have constructed models of interest rate behaviour, but no model works in all circumstances. The main aim of this book is to straddle the different worlds of theoretical models and practical market experience, while offering an interdisciplinary framework for fixed income investing and trading. A focussed but very practical approach to fixed-income investment, aimed at practitioner market Contains investment checklists and interviews with market practitioners Offers an interdisciplinary framework for fixed-income investing and trading, and combines worlds of theoretical models and practical market experience
Description : Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"—a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management—allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment. Munger's system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.
Description : Many people are intimidated by the stock market and choose instead to put their money into savings accounts that pay very little. They believe that: - Buying shares is too risky - Buying shares is too complicated - You need a lot of money for it to be worthwhile. But none of these things are true and this book explains why. It provides a simple and accessible introduction to the basic principles of investing in the stock market. With an understanding of these, and a consistent approach to investment, you can make a good return from stocks and shares. In this book you will discover: - How to use the way you and others behave to your advantage; - How to get more than you pay for; - How to increase your wealth over time by consistently following some really simple steps.