- Paperback: 224 pages
- Publisher: Texere; 1st edition (6 May 1997)
- Language English
- ISBN-10: 075281012X
- ISBN-13: 978-0752810126
- Product Dimensions: 24.2 x 18.8 x 1.8 cm
- Average Customer Review: 3.9 out of 5 stars See all reviews (10 customer reviews)
- Amazon Bestsellers Rank: 255,065 in Books (See Top 100 in Books)
- See Complete Table of Contents
The Zulu Principle
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More About the Author
Product Description
Ivan Fallon, Sunday Times
The single most powerful influence on the business scene.....Jim Slater has refined, honed and distilled his investment thoughts into a book that is vintage Slater: innovative, imaginative, original and fresh with sophisticated investment methods made to seem simple and glaringly obvious - if only you'd thought of them before.
Lord Hanson
For anyone seriously interested in investment, this book is essential reading. I recommend it strongly.
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Customer Reviews
Most Helpful Customer Reviews
10 of 10 people found the following review helpful
Format:Hardcover
I first read the Zulu Principle some years ago and it had a profound effect on my investing habits. The new edition is a very limited update so probably not worth investing in if you have the first edition.
The idea behind it is that small company shares are often underresearched - its not worth an analyst in a major investment firm spending a long time analysing a company with a market value, of, say £10m since even if it proves to be the bargain of the century it will not be possible for his company to build up a worthwhile holding as there will be so few shares around. The name of the book comes from some research done by Jim Slater's wife on Zulus. She started off by reading a small article and already knew more than most people on Zulus. If she had borrowed all the books in her local library she would probably have known more about Zulus than most people in Surrey. If she had then decided to visit South Africa and do further study at the University she would probably be in the handful of experts on Zulus in the UK and possibly the world. The idea being that with small company shares, they are often so underresearched that even if you do a limited amount of digging on a particular company you will soon know more than most others.
With this premise, Jim Slater then sets off to explain how to find growth stocks which are undervalued by his definition. He is looking for shares which have shown growth over a number of years and look like they will continue to do so, and which the market is not fully appreciating price wise. A limited amount of accounting understanding is assumed, but his methods are generally straight forward and remarkably sensible.
Jim Slater has been a outstandingly successful investor over a number of years, and in this book shows that there is no rocket science involved. This really is a must read, but keep in mind that his methods work better in a bull (rising) market.
The idea behind it is that small company shares are often underresearched - its not worth an analyst in a major investment firm spending a long time analysing a company with a market value, of, say £10m since even if it proves to be the bargain of the century it will not be possible for his company to build up a worthwhile holding as there will be so few shares around. The name of the book comes from some research done by Jim Slater's wife on Zulus. She started off by reading a small article and already knew more than most people on Zulus. If she had borrowed all the books in her local library she would probably have known more about Zulus than most people in Surrey. If she had then decided to visit South Africa and do further study at the University she would probably be in the handful of experts on Zulus in the UK and possibly the world. The idea being that with small company shares, they are often so underresearched that even if you do a limited amount of digging on a particular company you will soon know more than most others.
With this premise, Jim Slater then sets off to explain how to find growth stocks which are undervalued by his definition. He is looking for shares which have shown growth over a number of years and look like they will continue to do so, and which the market is not fully appreciating price wise. A limited amount of accounting understanding is assumed, but his methods are generally straight forward and remarkably sensible.
Jim Slater has been a outstandingly successful investor over a number of years, and in this book shows that there is no rocket science involved. This really is a must read, but keep in mind that his methods work better in a bull (rising) market.
3 of 3 people found the following review helpful
Format:Hardcover
Some of the lessons in this book are timeless, being as relevant now as they were when Mr Slater wrote this book in 1992. Perhaps the "big thing" in this book is the concept of the "PEG ratio", which was new to most UK investors at the time. He reviews several different styles of investing, at least some of which now appear very much a feature of their time.
The only update that's been made since 1992, as far as I can see, is in the "further reading" section, where we're referred to a popular investment-book website. It's such a surprise to see a 21st C. artefact in this emphatically 20th C book that I stopped and stared at it for a minute, checking in my memory for recollections of web commerce in those distant days (no, that couldn't have been in the original edition).
So much of this book - far too much - is of interest only to historians. There really should have been a warning to the near-novice (for whom this book was originally written) not to waste time in 2010 looking for the "Unlisted Securities Market"; and don't call your broker asking to be sent a copy of the "Datastream relative-strength chart", or any of the other stuff in the "Your Broker and You" chapter: they'll think you've just stepped out of a time warp.
Overall, I was quite disappointed by this, and glad that I hadn't shelled out the £25 cover price to buy it.
The only update that's been made since 1992, as far as I can see, is in the "further reading" section, where we're referred to a popular investment-book website. It's such a surprise to see a 21st C. artefact in this emphatically 20th C book that I stopped and stared at it for a minute, checking in my memory for recollections of web commerce in those distant days (no, that couldn't have been in the original edition).
So much of this book - far too much - is of interest only to historians. There really should have been a warning to the near-novice (for whom this book was originally written) not to waste time in 2010 looking for the "Unlisted Securities Market"; and don't call your broker asking to be sent a copy of the "Datastream relative-strength chart", or any of the other stuff in the "Your Broker and You" chapter: they'll think you've just stepped out of a time warp.
Overall, I was quite disappointed by this, and glad that I hadn't shelled out the £25 cover price to buy it.
15 of 17 people found the following review helpful
Format:Hardcover
I am really disappointed to buy this book as a "brand new edition", only to find that the only thing brand new about it is a 3 page preface. The rest of the book is stuck in 1992, and takes examples from companies like Farepak, GEC and Polly Peck, none of whom should inspire much confidence in a new investor. Also, there is no mention of trading in the modern world, this was a pre internet book, in the days when you had to buy paper copies of information about companies from your broker.
While I would have had no problem buying this book as an aging guide to share trading, indeed, the underlying principles are still, in the main, valid, I do object to what amounts to a lazy reissue.
While I would have had no problem buying this book as an aging guide to share trading, indeed, the underlying principles are still, in the main, valid, I do object to what amounts to a lazy reissue.
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Most Recent Customer Reviews
Stocks and Shares investing
A technical book with good advice in it helps individual choices to be made regarding criteria for investing in shares. Read more
Published 16 months ago by colin
There is a better offering!
I bought the 1st edition many years ago and, whilst this 2nd edition has been updated, JS seems to ignore his (in my opinion) much superior book "Beyond the Zulu Principle". Read more
Published 18 months ago by angler
Novice Investor
I find this book an excellent introduction to investing. It sets out guidelines logically and comes with plenty of examples. Read more
Published on 2 Oct 2009 by Diarmuid Kinsella
Classic investment strategy
I've recently read this book and found it excellent.
Firstly, if you're new to investing, I wouldn't start here; start with something like Robbie Burns' Naked trader... Read more
Firstly, if you're new to investing, I wouldn't start here; start with something like Robbie Burns' Naked trader... Read more
Published on 20 Sep 2009 by Mr. W. A. Inman
The Zulu Principle
Jim is a bit repetitive. Time has been unkind to some of his favourite shares, but the ideas are good.
Published on 12 Aug 2009 by D. G. Mansion
Updated?
This is an excellent book and a must-read for stock market investors. However, the "update" is limited and disappointing if you already own the original edition. Read more
Published on 18 Mar 2009 by David Green
Superb Introduction To Growth Shares.
Having read this book the reader will have gained enough expertise to develop an efficient, and potentially rewarding, approach to their investments. Read more
Published on 18 Jan 1999
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