Investment Philosophies: Successful Strategies and the Investors Who Made Them Work

by Aswath Damodaran

704 pages, Hardcover

Published March 31, 2026

About the author

Aswath Damodaran is a Professor of Finance at the Stern School of Business at New York University (Kerschner Family Chair in Finance Education). He is well known as the author of several widely used academic and practitioner texts on Valuation, Corporate Finance and Investment Management; as well as a provider of comprehensive data for valuation purposes.

Reviews

[Sanford Chee]

3rd edition
https://youtu.be/GpOzFKrnvdU?si=gEriF...
Finding your investing lodestar: In Search of an Investment Philosophy
https://aswathdamodaran.blogspot.com/...

Introduction to Investment Philosophies, 3rd Edition
https://youtu.be/jBl8FXPc9tY?si=AUOxJ...
1/42
https://youtu.be/5NuOTAVw6K4?si=OZ6l6...
Investor vs trader
Passive vs active
Value? What causes mis-pricing?

Webcasts on investment philosophies:
https://pages.stern.nyu.edu/~adamodar...
43 videos of the course on YouTube
https://youtu.be/jBl8FXPc9tY?si=kInFz...
Session 1 Intro
https://youtu.be/5NuOTAVw6K4?si=JT07R...
Categorising invt philosophy:
https://pages.stern.nyu.edu/~adamodar...
Investing vs trading (Ray Dalio: fundamental vs statistical)
Asset selection (stk picking) vs mkt timing (Ray Dalio: discretionary vs systematic)
Active/activist vs passive (Ray Dalio: concentrated vs diversified)
Time horizon: s/t vs l/t (Li Lu: speculation vs investing)

Session 2
2/42
https://youtu.be/mTGJz2AUaeY?si=9wTa6...


webcasts Investment Philosophies Class outline
https://pages.stern.nyu.edu/~adamodar...