5 of 5 people found the following review helpful
5.0 out of 5 stars
Deep Value Investing in practice, 25 Nov. 2013
I found Jeroen Bos' book gives an interesting and readable insight into how he has used a deep value investing philosophy to guide him when identifying and acquiring investments. He has a great deal of practical experience in this area through his work with Peter Cundill, the noted Canadian value investor, and managing his own fund.
The first part of the book gives an overview of deep value investing and the general areas on which he focuses when evaluating an investment. The remainder of the book looks at how he has applied this technique to actual investments which he has made. For each investment featured, he outlines how he evaluated the investment and the thought process which he went through prior to actually investing. I found this focus on the practical side of investing and the analysis which he performed to become comfortable with the investment particularly helpful, as it showed how a fund manager acts in real life situations.
In addition to the success stories, he has included a couple of his investment failures and analysed why they may not have worked out as originally envisaged. This is useful as it highlights the lessons which he drew from these failures and shows the reader that although this is a potentially successful investing strategy, it is not immune from the risks associated with all types of investing.
It would be helpful for the reader to have some knowledge of value investing and a company's balance sheet as much of the analysis is focused on the balance sheet. However, it would still be useful for those who are interested in investing in general and wish to learn more about this specific area.