The Manual of Ideas

Informationen zum Autor JOHN MIHALJEVIC, CFA, is a Managing Editor of The Manual of Ideas , the monthly idea-oriented research publication for value-oriented investors, and a Managing Director of ValueConferences, a series of fully online investment conferences for value-oriented investors. He has also served as Managing Partner of the investment firm Mihaljevic Capital Management LLC since 2005. He is a member of Value Investors Club, an exclusive community of top money managers, and has won the club's prize for best investment idea. John is a trained capital allocator, having studied under Yale University Chief Investment Officer David Swensen and served as research assistant to Nobel laureate James Tobin. John holds a BA in economics, summa cum laude , from Yale and is a CFA charterholder. He resides in Zurich, Switzerland, with his wife, two sons, and a daughter. Klappentext Reveals the proprietary framework used by an exclusive community of top money managers and value investors in their never-ending quest for untapped investment ideasConsidered an indispensable source of cutting-edge research and ideas among the world's top investment firms and money managers, the journal The Manual of Ideas boasts a subscribers list that reads like a Who's Who of high finance. Written by that publication's managing editor and inspired by its mission to serve as an "idea funnel" for the world's top money managers, this book introduces you to a proven, proprietary framework for finding, researching, analyzing, and implementing the best value investing opportunities. The next best thing to taking a peek under the hoods of some of the most prodigious brains in the business, it gives you uniquely direct access to the thought processes and investment strategies of such super value investors as Warren Buffett, Seth Klarman, Glenn Greenberg, Guy Spier and Joel Greenblatt. Written by the team behind one of the most read and talked-about sources of research and value investing ideas Reviews more than twenty pre-qualified investment ideas and provides an original ranking methodology to help you zero-in on the three to five most compelling investments Delivers a finely-tuned, proprietary investment framework, previously available only to an elite group of TMI subscribers Step-by-step, it walks you through a proven, rigorous approach to finding, researching, analyzing, and implementing worthy ideasReveals the proprietary framework used by an exclusive community of top money managers and value investors in their never-ending quest for untapped investment ideasConsidered an indispensable source of cutting-edge research and ideas among the world's top investment firms and money managers, the journal The Manual of Ideas boasts a subscribers list that reads like a Who's Who of high finance. Written by that publication's managing editor and inspired by its mission to serve as an "idea funnel" for the world's top money managers, this book introduces you to a proven, proprietary framework for finding, researching, analyzing, and implementing the best value investing opportunities. The next best thing to taking a peek under the hoods of some of the most prodigious brains in the business, it gives you uniquely direct access to the thought processes and investment strategies of such super value investors as Warren Buffett, Seth Klarman, Glenn Greenberg, Guy Spier and Joel Greenblatt. Written by the team behind one of the most read and talked-about sources of research and value investing ideas Reviews more than twenty pre-qualified investment ideas and provides an original ranking methodology to help you zero-in on the three to five most compelling investments Delivers a finely-tuned, proprietary investment framework, previously available only to an elite group of TMI subscribers Step-by-step, it walks you through a proven, rigorous approach to finding, researching, analyzing, and implementing wort...

Auteur

JOHN MIHALJEVIC, CFA, is a Managing Editor of The Manual of Ideas, the monthly idea-oriented research publication for value-oriented investors, and a Managing Director of ValueConferences, a series of fully online investment conferences for value-oriented investors. He has also served as Managing Partner of the investment firm Mihaljevic Capital Management LLC since 2005. He is a member of Value Investors Club, an exclusive community of top money managers, and has won the club's prize for best investment idea. John is a trained capital allocator, having studied under Yale University Chief Investment Officer David Swensen and served as research assistant to Nobel laureate James Tobin. John holds a BA in economics, summa cum laude, from Yale and is a CFA charterholder. He resides in Zurich, Switzerland, with his wife, two sons, and a daughter.

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Reveals the proprietary framework used by an exclusive community of top money managers and value investors in their never-ending quest for untapped investment ideas Considered an indispensable source of cutting-edge research and ideas among the world's top investment firms and money managers, the journal The Manual of Ideas boasts a subscribers list that reads like a Who's Who of high finance. Written by that publication's managing editor and inspired by its mission to serve as an "idea funnel" for the world's top money managers, this book introduces you to a proven, proprietary framework for finding, researching, analyzing, and implementing the best value investing opportunities. The next best thing to taking a peek under the hoods of some of the most prodigious brains in the business, it gives you uniquely direct access to the thought processes and investment strategies of such super value investors as Warren Buffett, Seth Klarman, Glenn Greenberg, Guy Spier and Joel Greenblatt. Written by the team behind one of the most read and talked-about sources of research and value investing ideas Reviews more than twenty pre-qualified investment ideas and provides an original ranking methodology to help you zero-in on the three to five most compelling investments Delivers a finely-tuned, proprietary investment framework, previously available only to an elite group of TMI subscribers Step-by-step, it walks you through a proven, rigorous approach to finding, researching, analyzing, and implementing worthy ideas

Contenu

Foreword xi

Preface xiii

CHAPTER 1 A Highly Personal Endeavor: What Do You Want to Own? 1

Give Your Money to Warren Buffett, or Invest It Yourself? 2

Cast Yourself in the Role of Capital Allocator 7

Owner Mentality 14

Stock Selection Framework 17

Key Takeaways 18

Notes 20

CHAPTER 2 Deep Value: Ben Graham-Style Bargains Inelegant but Profi table Strategy of Cigar Butt Investing 23

The Approach: Why It Works 24

Uses and Misuses of Ben Graham-Style Investing 34

Screening for Graham-Style Bargains 41

Beyond Screening: Working through a List of Deep Value Candidates 44

Asking the Right Questions of Graham-Style Bargains 49

Key Takeaways 53

Notes 54

CHAPTER 3 Sum-of-the-Parts Value: Investing in Companies with Excess or Hidden Assets 57

The Approach: Why It Works 58

Uses and Misuses of Investing in Companies with Overlooked Assets 60

Screening for Companies with Multiple Assets 64

Beyond Screening: Proven Ways of Finding Hidden Assets 69

Asking the Right Questions of Companies with Hidden Assets 78

Key Takeaways 81

Notes 82

CHAPTER 4 Greenblatt's Magic Search for Good and Cheap Stocks 83

The Approach: Why It Works 84

Uses and Misuses of Investing in Good and Cheap Companies 91

Screening for Good and Cheap Companies 98

Beyond Screening: Hope for Improvement Springs Eternal 102

Asking the Right Questions of Greenblatt-Style Bargains 106

Key Takeaways 113

Notes 114

CHAPTER 5 Jockey Stocks: Making Money alongside Great Managers 117

The Approach: W…