If you want to get started in value investing but are not sure what it is all about, here is the best book I have read to date on the subject.
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I honestly feel this book should be read by all those who are interested in value investing but are not sure where to begin to find out about it. It is not full of complicated discounted future cash flow formulas that will have most readers eyes glossing over in confusion. What it does have is a straight forward explanation of the theory of value investing. The author, Tweedy & Browne's Christopher Browne illustrates how we try to buy everything we buy in life "on sale" (groceries, auto's, clothing etc..) yet for some reason have the irresistible urge to buy stock in companies when they are priced most expensively. The book is an excellent primer on altering that thought process...
Advanced value investing readers may find the book a little basic but I enjoyed it because it is always good to remind yourself of the basics as without them the details are meaningless...
The best part of the book? Any reader can easily finish it in a weekend and be investing on Monday...
On a side note. I have been inundated with book review requests lately and will get to all of them as soon as I can. Thank you in adavnace for you patience..