The Little Book of Investing Like the Pros. Joshua Rosenbaum

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Название The Little Book of Investing Like the Pros
Автор произведения Joshua Rosenbaum
Жанр Ценные бумаги, инвестиции
Серия
Издательство Ценные бумаги, инвестиции
Год выпуска 0
isbn 9781119388104



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information provided herein is obtained or compiled from sources believed to be reliable, the Authors cannot and do not guarantee the accuracy, validity, timeliness, or completeness of any information or data made available to you for any particular purpose. Neither the Authors, nor the Publisher, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of errors, inaccuracies, or omissions.

      Risk Investing involves risk including possible loss of principal. An investor should consider his or her own investment objectives and risks carefully before investing. There is no guarantee that investments will result in profits or that they will not result in losses. All investors need to fully understand the risks associated with any kind of investing he or she chooses to do. Economic factors, market conditions, and investment strategies will affect the performance of any portfolio and there are no assurances that it will match or outperform any particular benchmark.

      No Reliance The Authors will not be liable, whether in contract, tort (including, but not limited to, negligence) or otherwise, in respect to any damage, expense or other loss you may suffer arising out of or in connection with any information or content provided herein or any reliance you may place upon such information, content, or views. Any investments you make are at your sole discretion and risk.

      Disclaimer of Warranty and Limitation of Liability In no event will the Authors, the Publisher, their affiliates, or any such parties be liable to you for any direct, indirect, special, consequential, incidental, or any other damages of any kind.

      As you have probably noticed, there are quite a few investing books out there. Many of them were written by some of the world's greatest investors. So, why should you read our book?

      Stock investing is more prevalent than ever, whether directly or indirectly through brokerage accounts, exchange-traded funds (ETFs), mutual funds, or retirement plans. Despite this, the vast majority of individual investors have no training on how to pick stocks, let alone basic financial literacy. And, until now, there hasn't been a truly accessible, easy-to-understand resource available to help them. The Little Book of Investing Like the Pros : 5 Steps for Picking Stocks was written to fill this void.

      Our practical approach is designed to help demystify the investing process, which can be intimidating. This training will help set you apart from others who are largely flying blind.

      Pilots require extensive training before receiving a license. Doctors must graduate medical school, followed by a multi-year residency. Even those providing professional investment advice require certification. But, anyone can buy a stock without any training whatsoever. While buying stocks on a hunch and a prayer may not endanger your life, it can certainly put your finances at risk.

      In our original best-selling book, Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions, we developed a highly practical guide on valuation and corporate finance. Our step-by-step, how-to approach resonated with a broad audience, selling over 200,000 copies and still going strong. While our first book was designed largely for investment bankers, it attracted attention from professional investors.

      Though just one example, the prevalence of this type of thinking was yet another inspiration to write this book. Note: if it's not clear why comparing AMZN and FB on the basis of stock price as opposed to earnings, business model, performance trends, and other key metrics is fundamentally misguided, then this book is definitely for you. And even if you're square on that (and then some), we have a framework to help take you to the next level!

      With the help of dozens of seasoned investors, we developed a concise 5-step framework for picking stocks in The Little Book of Investing Like the Pros: sourcing investment ideas, identifying the best opportunities, performing due diligence, determining valuation, and making the ultimate go/no-go decision. We also weave in key portfolio construction and risk management techniques. To assist your development, we provide real-world valuation, financial modeling, and portfolio management templates on our website: www.investinglikethepros.com

      Our approach towards simplifying the investment process is supported by a playing field that is arguably more level today than ever before. Historically, the discrepancy in access to information between institutional and individual investors provided a tremendous barrier. Individual investors generally didn't know how or where to access relevant data.

      Today, all investors have unprecedented access to information and resources thanks to more stringent disclosure requirements and technological developments. There are powerful tools in the public realm to identify, investigate, and execute informed investment decisions. However, proper training on how to use them is critical. That's where our book comes in—namely, a framework for identifying opportunities among the thousands of publicly-traded companies in the market.

      Of course, this is just the beginning of a continuous process. The journey towards becoming a successful investor is by no means easy. Taking the next step will rely upon your own hard work, diligence, judgment, and analytical abilities. You also need to be comfortable with making mistakes early on. Focus on improving your process vs. the outcome. Even pros learn invaluable lessons from their losers, often more so than from their winners.

      In a world where passive investing has proliferated, it merits revisiting the virtues of active investing. Passive investing is exactly as it sounds—you will perform in line with the market/sector, for better or worse. These investment goals work for many. Hence, the arrival of passive investing as a permanent fixture. But, a large portion of investors seek superior returns, which requires an active approach.

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