The Little Book of Value Investing

There are many ways to make money in today’s market, but the one strategy that has truly proven itself over the years is value investing, says Christopher Browne in his book - The Little Book of Value Investing.

March 10, 2014 11:23 IST | India Infoline News Service
Title: The Little Book of Value Investing
Author: Christopher H. Browne
Foreword by: Roger Lowenstein
Pages: 180; Hardcover
Price: US$19.95 (This price is valid for India)
Published by John Wiley & Sons, Inc.
Values matter a lot and so do value investing. In the last few decades, just as access to information and the methods of trading stock shave changed, so have the criteria for value. The ability to learn new ways to look at value allows you to make some profitable investments that you may well have overlooked had you not adapted with the times. There are many ways to make money in today’s market, but the one strategy that has truly proven itself over the years is value investing, says Christopher Browne in his book - The Little Book of Value Investing.
The little book is packed with big lessons, the foremost among them being – don’t lose your money. Intrinsic value and margin of safety provide the courage and the reassurance that buying in bad times and selling in good times is the better course to follow. But then show me the money, one would argue in bad times! “In the halls of academia, under the eye shades of researchers, and in the rough-and-tumble world of Wall Street, buying stocks that have fallen in price and yet still offer a margin of safety has resulted in successful investments,” he says in the chapter -Things that Go Bump In the Market.

There is a global search for value, the author says, “By using a global approach, you can double the potential opportunities to stock the shelves of your value investing store and also put yourself in a position to benefit when other markets and companies are cheaper than your home-based counterparts.
Just like miners have to sift through a lot of dirt and rock to find the precious metal, similarly, investors have to sift through a lot of data to find the gems that will be good investments. And for those who panic with the regular fluctuations of the market, the author has a few questions :
Would you take a minute by minute pricing approach with anything else you own ?
How would you react if your house was priced everyday and the quotes listed in the newspaper?
Would you panic and move out if you lost 2% of your home’s value because your neighbour didn’t mow his lawn?
Read the book patiently. The little book of value investing won’t take much of your time. But then, as the author says, “Patience is sometimes the hardest part of using the value approach.”
About the author:

Christopher H Browne is a Managing Director of Tweedy,Browne Company LLC and is a member of the firm's management committee. He is also President of the Tweedy, Browne Funds, a mutual fund group. Browne is agraduate of the University of Pennsylvania where he serves as a Charter (Life) Trustee. At Penn, he established the Browne Centerfor International Politics, and the Browne Distinguished Professorships in the School of Arts and Sciences. Mr. Browne served on the faculty advisory committee of Harvard's John F. Kennedy School of Government program in investment decisions and behavioral finance. He is a trustee of Guild Hall, a regional arts and education center in East Hampton, New York, and of the Long Island Chapter of The Nature Conservancy. Mr. Browne is also a trustee of The Rockefeller University and a member of its executive and investment committees.
About Wiley:

Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for over 200 years, helping people around the world meet their needs and fulfill their aspirations. Since 1901, Wiley and its acquired companies have published the works of more than 350 Nobel laureates in all categories: Literature, Economics,Physiology / Medicine, Chemistry, Physics and Peace.

Our core businesses include scientific, technical, medicaland scholarly journals, encyclopedias, books, and online products and services;professional / trade publishes books, subscription products, training materials,and online applications and websites; and educational materials for undergraduate and graduate students and lifelong learners. Wiley's global headquarters are located in Hoboken, New Jersey, with operations in the U.S., Europe, Asia, Canadaand Australia.The Company's website can be accessed at http://www.wiley.com. The Company islisted on the New York Stock Exchange under the symbols JWa and JWb.

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