The Art of Value Investing by John Heins
How the World's Best Investors Beat the Market (Wiley Finance)

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Synopsis

Says Bill Ackman of Pershing Square Capital Management about The Art of Value Investing:

"I learned the investment business largely from the work and thinking of other investors. The Art of Value Investing is a thoughtfully organized compilation of some of the best investment insights I have ever read. Read this book with care. It will be one of the highest-return investments you will ever make."

Based on interviews with the world's most-successful value investors, The Art of Value Investing offers a comprehensive set of answers to the questions every equity money manager should have thought through clearly before holding himself or herself out as a worthy steward of other people's money. What market inefficiencies will I try to exploit? How will I generate ideas? What will be my geographic focus? What analytical edge will I hope to have? What valuation methodologies will I use? What time horizon will I typically employ? How many stocks will I own? How specifically will I decide to buy or sell? Will I hedge, and how? How will I keep my emotions from getting the best of me?

Who should read The Art of Value Investing? It is as vital a resource for the just starting out investor as for the sophisticated professional one. The former will find a comprehensive guidebook for defining a sound investment strategy from A-to-Z; the latter will find all aspects of his or her existing practice challenged or reconfirmed by the provocative thinking of their most-successful peers. It also is a must read for any investor – institutional or individual – charged with choosing the best managers for the money they are allocating to equities. Choosing the right managers requires knowing all the right questions to ask as well as the answers worthy of respect and attention – both of which are delivered in The Art of Value Investing.

 

About John Heins

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Whitney Tilson (New York, NY) is the founder and Managing Partner of T2 Partners LLC and the Tilson Mutual Funds. The former manages three value-oriented private investment partnerships, while the latter is comprised of two value-based mutual funds, Tilson Focus Fund and Tilson Dividend Fund.  Tilson is also the co-founder, Chairman and co-Editor-in-Chief of investment newsletters Value Investor Insight and SuperInvestor Insight, and is the co-founder and Chairman of the Value Investing Congress, a biannual investment conference in New York City and Los Angeles. Each of these businesses is preeminent in its field and the two businesses combined own customer databases with more than 40,000 names. Tilson writes monthly columns on value investing for both the Financial Times and for Kiplinger's Personal Finance. He was one of five investors included in SmartMoney’s Power 30, was named by Institutional Investor as one of 20 “Rising Stars of Hedge Funds”, was profiled by The Wall Street Journal, and is a frequent guest expert on CNBC, Bloomberg TV, and Fox Business Network. Tilson received an MBA with High Distinction from the Harvard Business School, where he was elected a Baker Scholar (top 5% of class), and graduated magna cum laude from Harvard College, with a bachelor’s degree in Government.Glenn Tongue (New York, NY) is a Managing Partner of T2 Partners LLC and the Tilson Mutual Funds. He spent 17 years on Wall Street, most recently as an investment banker at UBS, where he was a Managing Director and Head of Acquisition Finance. Before UBS, Mr. Tongue was at DLJ for 13 years, the last three of which he served as the President of NYSE-listed DLJdirect. Prior to that he was a Managing Director in the Investment Bank at DLJ, where he worked on over 100 transactions aggregating more than $40 billion.
 
Published April 12, 2013 by Wiley. 337 pages
Genres: Business & Economics. Non-fiction

Unrated Critic Reviews for The Art of Value Investing

Seeking Alpha

If you want to understand the nuances of how a firm doing value investing works, I can’t think of a better book, because this book implicitly goes over all of the choices that a value investor has to make.

Jun 07 2013 | Read Full Review of The Art of Value Investing: H...

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