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September 26, 2012
The Rational Walk
Book Review: The Value Investors by Ronald Chan
September 11, 2012
Book Review: Ronald W. Chan′s The Value Investors
September 3, 2012
"The book is an informative, easy and enjoyable read and I personally would recommend it to anyone who is interested in investment strategies and in money management. (Financial Markets and Portfolio Management,February 2014)
Investing legend Warren Buffett once said that "success in investing doesn′t correlate with I.Q. once you′re above the level of 125. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing."
In an attempt to understand exactly what kind of temperament Buffett was talking about, author Ronald Chan interviewed twelve value–investing legends from around the world, learning how their personal background, culture, and life experiences have shaped their investment mindset and strategy. The Value Investors: Lessons from the World′s Top Fund Managers is the result.
From 106–year–old Irving Kahn, who worked closely with the "father of value investing" Benjamin Graham and remains active today; and 95–year–old Walter Schloss, described by Warren Buffett as the "super–investor from Graham–and–Doddsville;" to Cheah Cheng Hye and V–Nee Yeh, the cofounders of Hong Kong–based Value Partners; and Francisco García Paramés of Spain′s Bestinver Asset Management; author Ronald Chan chose investment luminaries to help him understand the international appeal and success of value investing. All of these individuals became strong advocates of the approach despite considerable age and cultural differences. Here, Chan finds out why.
In The Value Investors, readers will also discover how these investors, each of whom has a unique value perspective, have consistently beaten the stock market over the years. Do they share a trait that allows this to happen? Is there a winning temperament that turns the ordinary investor into an extraordinary one? This book answers these questions and much more.