Getting Started in Value Investing is a marvelous introduction to value investing filled with anecdotes about the subject and the people behind the investment headlines. A delightful and practical read. Charles Mizrahi knows how to take the most boring stocks in the world, dress them up with his strategy, and turn them into stock market super stars.
I have written this book for the average person who wants to develop an understanding of what value investing is all about. Once you have ﬁnished this book, you will be among a select group of investors able to view the stock market and all the noise that surrounds it with more clarity and peace of mind.
Chapter 1 explores the most common misconceptions investors have about value investing and explains why they don’t work in the real world. In Chapter 2, I take you through the basics and provide you with the compelling logic of value investing. Here you will see why this is the only approach that has withstood the test of time.
Following these basics, Chapter 3 gives you a framework for investing in stocks, and even shows you why putting all of your eggs in one basket simply makes sense and improves your overall return. Chapter 4 examines another important concept, which is ﬁnding businesses that truly are the champs. In Chapter 5, I explain the importance of picking not only great businesses but great managers as well, which is another way of adding value. Chapter 6 explains the importance of competition and why certain companies invariably have a strong competitive advantage.
Chapters 7 and 8 give you sound nontechnical explanations of a company’s ﬁnancial statements, how to read them, and what you need to make value-based interpretations. In Chapter 9, I tie up the whole concept by explaining how price and value differ, and how to determine exactly what you should pay for a stock. Chapter 10 is devoted to reminding you about some of the mistakes people make in the way they invest, and why, as a value investor, you actually simplify your decision-making process by sticking to a short list of tried-and-true ideas. I provide you with some ﬁnal thoughts in Chapter 11.
- The 5 Misconceptions of Value Investing
- The Basics of Value Investing: A Few Things You Must Know
- Market Caveats: Lessons from the Past
- Are Great Companies Great Investments? Stick with the Champs
- Who’s in Charge? Management Counts: Getting Comfortable with Management
- Competition: Threat or Opportunity? The Enduring Competitive Advantage
- The Essential Valuation Variables that Really Count: Financial Statement Basics
- The Essential Operating Variables that Really Count: Bringing the Numbers to Life
- The Price of Stock versus the Value of the Company
- Your Own Worst Enemy
- My Final Words of Value
Getting Started in Value Investing By Charles S. Mizrahi pdf