Jim Slater's classic text brought back into print Jim Slater makes available to the investor - whether the owner of only a few shares or an experienced investment manager with a large portfolio - the secrets of his success. Central to his strategy is The Zulu Principle, the benefits of homing in on a relatively narrow area. Deftly blending anecdote and analysis, Jim Slater gives valuable selective criteria for buying dynamic growth shares, turnarounds, cyclicals, shells and leading shares. He also covers many other vitally relevant aspects of investment such as creative accounting, portfolio management, overseas markets and the investor's relationship with his or her broker. From The Zulu Principle you will learn exactly when to buy shares and, even more important, when to sell - in essence, how to to make 'extraordinary profits from ordinary shares'.
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"Jim Slater was, for a time, the single most powerful influence on the business scene. Twenty years on, he 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." --Ivan Fallon, Sunday Times
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
"When I was making my run from being a small business man to something larger, Jim Slater dominated the City. Somehow or other he was involved in virtually every major deal. He rode the waves with unprecedented skill, imagination and charisma. No wonder this book is an essential building block for understanding investment." --Sir James Goldsmith
"Jim Slater's book is very readable, alive and fascinating. For anyone seriously interested in investment, it is essential reading. I recommend it strongly." --Lord Hanson
About the Author
Jim Slater trained as an accountant. He first became interested in investment in the sixties, while a director at a British Leyland subsidiary. After publicising his methods via a column in the Sunday Times, he launched the investment conglomerate Slater Walker, which he chaired until 1973. The company was known for its aggressive acquisitions in every area from banking to property. It collapsed in the 1973-4 recession, leaving Slater bankrupt to the tune of about £4m in today's money. He fought his way back to prosperity through private property deals and writing for small investors. In 1990, he published his main work, The Zulu Principle. This popularised the use of a financial ratio devised in America, known as the PEG, or Price:Earnings Growth Ratio. He has since devised a monthly publication called Company REFS (Really Essential Financial Statistics), which helps investors to apply his system by listing PEGs and other key ratios and information on all UK companies. Now living in Surrey, but far from retired, Slater is still very active in educating investors through his books and lectures. He is also a major shareholder in a variety of small companies, and puts a good deal of money into charitable causes and sports sponsorships.
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Most Helpful Customer Reviews
12 of 12 people found the following review helpful
By Brett H
TOP 50 REVIEWER
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.
5 of 5 people found the following review helpful
By Andy
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
By Phil Johnson
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
5.0 out of 5 stars
Great concept and book for UK Investors
One of my favourite investment books with respect to the UK share market is Jim Slater's "The Zulu Principle". Read more
Published 3 months ago by The Finance Guy UK
5.0 out of 5 stars
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 on 6 Feb 2011 by colin
3.0 out of 5 stars
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 on 24 Nov 2010 by angler
5.0 out of 5 stars
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
5.0 out of 5 stars
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
2.0 out of 5 stars
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
5.0 out of 5 stars
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
5.0 out of 5 stars
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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