Value Investing: Tools and Techniques for Intelligent Investment Hardcover – 23 Oct 2009
|New from||Used from|
- Choose from over 13,000 locations across the UK
- Prime members get unlimited deliveries at no additional cost
- Find your preferred location and add it to your address book
- Dispatch to this address when you check out
Frequently Bought Together
Customers Who Bought This Item Also Bought
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Any disciple of value investing will benefit greatly from reading this book. (UK Analyst.com, May 2011).
From the Inside Flap
"James Montier combines a profound understanding of behaviorial finance with a fierce adherence to the tried and tested principles of value–investing. He is always readable, thought–provoking and, above all, correct."
Edward Chancellor, author of Devil Take the Hindmost: A history of financial speculation
"James′ latest effort is a must read. It combines great academic and practitioner approaches written in a humorous and entertaining style. It has practical real world examples that don′t require advanced mathematics to comprehend. I advise everyone to read and study this wonderful book. All of my students now have Value Investing: Tools and Techniques for Intelligent Investment to add to their required reading."
Mark Cooper, Partner at Omega Advisors & Adjunct Professor at Columbia Business School
"A preponderance of evidence shows that successful long–term investing requires a strong value orientation and a proper temperament, virtues commonly blunted by behavioural and incentive–based biases. Montier, a leading light in value investing and behavioural finance, shows you what s wrong with standard investment thinking and offers important insight into how to improve your process. Read Value Investing, live its lessons, and prosper."
Michael J. Mauboussin, Chief Investment Strategist at Legg Mason Capital Management, and author of Think Twice: Harnessing the Power of Counterintuition
What Other Items Do Customers Buy After Viewing This Item?
Top Customer Reviews
Even though they are grouped into themes, the different chapters are mostly stand alone thought pieces that give Montier an outlet for his frustrations with the majority of investors. It's a bit cheeky of him to sell a collection of past papers (however interesting and well put together) as a 'how to' book on value investing. It's more of a "world according to James". Still, I've enjoyed what I've read already & it's always good to read a contrarian view on the market from an insider. Most insiders are too worried about "career risk" or too focused on the next bonus to be as honest. Shame.
For readers looking for a more practical guide for the individual investor I'd recommend John Kay's excellent "The Long & Short of it"
The Long and the Short of it: A Guide to Finance and Investment for Normally Intelligent People Who Aren't in the Industry
As each chapter begins with a text box summarizing the main point in a single para, then a one page summary in a few bullets, it is easy to decide if you are interested in each topic. Personally I skipped straight to the main text in order to minimize the feeling of repetition - though each to their own learning style.
At the end of the book you'll have a set of solid ideas on what you should be doing. Do not expect a simple recipe for how to cook up a perfect portfolio, though. There is a lot of detailed work required to implement those ideas - which is no doubt where Mr Montier and his fellow value investment experts earn their money!
I am a value investor. I know EMT is rubbish. Get over that and discuss value investing as the book initially promises.
If you are looking for a series of articles that provide evidence against EMT then this book is for you. If, like me, you are looking for some useful tools and techniques in relation to value investing then there are far better books out there.
No it isn't a how to book like "The Intelligent Investor" but I would read this before embarking on setting up a portfolio of your own - intact just read it anyway.
More importantly, this book highlights the major failings of a large proportion of investment professionals. The Ten Tenets of James's investment creed (Chapter 15) represents a thoroughly decent and honest guide to manage other people's money. If more investment professionals adhered (or were allowed to by their employers) to these rules then perhaps the customers of investment companies would receive a better deal than they have historically.
This is a good book and is well written but buy Graham's book if you want to try value investing for yourself.
Most Recent Customer Reviews
A terrible book. A total waste of time. Repeating itself again and again without adding any value. Shame.Published on 19 July 2014 by Joseph_London
Being someone who works in finance I found the book extremely interesting and insightful. I have met James Montier and found him incredibly sharp and honest. Read morePublished on 12 Aug. 2012 by Hebronite
I won't pretend that I am an expert on investing, I am just a beginner. When I saw the title of the book, I thought that it could provide me with clear and straightforward ways of... Read morePublished on 17 May 2012 by W. Ahmad
This book although cumbersome has some great tools and techniques, it isn't as clear and concise as Benjamim Graham's book, but it nevertheless a valuable effort into a minefield... Read morePublished on 18 Mar. 2012 by R. Patel
Long term investing is the key to financial security and this book clearly lays out the steps to achieve this. Read morePublished on 25 Feb. 2011 by C. Clark
I liked this book a lot. As somebody recently interested in investing in stocks (due to the rubbish saving rates) I started reading this recently and found the advice to be commmon... Read morePublished on 5 Nov. 2010 by J.Y
Not a step-by-step guide, rather this is a very well presented researches behind why value investing works and how it works. Read morePublished on 14 Sept. 2010 by H. H. Li
No insider tips in this book. It is really a book for someone looking for a long term investment, perhaps for a pension. Not particularly thrilling reading.Published on 24 Jun. 2010 by Sally Wilton
It is worth pausing and pondering over what sort of emotions does the following statement give rise to: "any one person can be wrong about the market -- may be everyone can be --... Read morePublished on 17 May 2010 by Gaurav Sharma