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The Winning Investment Habits of Warren Buffett & George Soros: Harness the Investment Genius of the World's Richest Investors
Warren Buffett, and George Soros all started with nothing. They're the world's richest investors -- and they built their billion-dollar fortunes solely by investing.
Was it luck? Something in their genes? Connections and "insider information" that the average investor can't get?
NO! says Mark Tier in this path-breaking book. He discovered that -- despite their radically different investment styles -- they both practice exactly the same mental habits and strategies religiously. What's more, Peter Lynch, Benjamin Graham, Sir John Templeton, Bernard Baruch, and all the other successful investors and traders he has studied and worked with follow them too. Without exception.
Their mental habits and strategies fly in the face of the conventional Wall Street "wisdom." For example:
► Buffett and Soros don't diversify. When they buy they always "buy as much as they can."
► Both will tell you that making predictions about the market or the economy has virtually nothing to do with their success.
► They're not focused on the profits they expect to make. Indeed, they're not investing for the money at all.
► They don't believe that to make big profits you must take big risks. Indeed, they are far more focused on not losing money than on making it.
► Their beliefs about what makes markets tick are amazingly similar -- and diametrically opposed to academic theories like the "Efficient Market Hypothesis" and the "Random Walk" which they both view with contempt.
► And all those research reports that Wall Street churns out -- they never read them. They don't give a hoot what other people think.
In identifying the winning investment habits that led the world's richest investors to phenomenal success, Mark Tier has uncovered for the first time the habits that ALL successful investors share.
What's more, every one of these winning habits is something you can easily learn yourself.
And it makes no difference whether you look for stock market bargains like Warren Buffett, trade currency futures like George Soros, invest in real estate, antiques or collectibles, use technical analysis, buy on dips or buy on breakouts, use a computerized trading system -- or just want to salt money away safely for a rainy day. Adopt the winning investment habits of the world's richest investors and you too can make more money more easily than you ever thought possible.
"This book is based on a stunningly simple, but highly intelligent and effective idea: Analyze the methods of Buffett and Soros-probably the two most successful investors of our time-and see exactly why they're so successful. Tier's approach is especially valuable because Soros's and Buffett's methods are often so different-yet, as Tier shows, the keys to their success are amazingly similar. Great book - something I rarely say about this genre." -- Doug Casey, editor, International Speculator
"Mark Tier's mapping of investment genius is simply masterful -- clean and true. What lifts his book even further above the rest, though, is his infectious delight in discovery and clarity of explanation as he hands you the attitudinal and behavioral keys to becoming the consummate investor." -- David Gordon, author, Expanding Your World: Modeling the Structure of Experience
"Tier has written an excellent book. His chapter on exit strategies alone (knowing when to sell even before you buy) is worth the price of the book." -- Dr. Mark Skousen, editor, Forecasts & Strategies
Was it luck? Something in their genes? Connections and "insider information" that the average investor can't get?
NO! says Mark Tier in this path-breaking book. He discovered that -- despite their radically different investment styles -- they both practice exactly the same mental habits and strategies religiously. What's more, Peter Lynch, Benjamin Graham, Sir John Templeton, Bernard Baruch, and all the other successful investors and traders he has studied and worked with follow them too. Without exception.
Their mental habits and strategies fly in the face of the conventional Wall Street "wisdom." For example:
► Buffett and Soros don't diversify. When they buy they always "buy as much as they can."
► Both will tell you that making predictions about the market or the economy has virtually nothing to do with their success.
► They're not focused on the profits they expect to make. Indeed, they're not investing for the money at all.
► They don't believe that to make big profits you must take big risks. Indeed, they are far more focused on not losing money than on making it.
► Their beliefs about what makes markets tick are amazingly similar -- and diametrically opposed to academic theories like the "Efficient Market Hypothesis" and the "Random Walk" which they both view with contempt.
► And all those research reports that Wall Street churns out -- they never read them. They don't give a hoot what other people think.
In identifying the winning investment habits that led the world's richest investors to phenomenal success, Mark Tier has uncovered for the first time the habits that ALL successful investors share.
What's more, every one of these winning habits is something you can easily learn yourself.
And it makes no difference whether you look for stock market bargains like Warren Buffett, trade currency futures like George Soros, invest in real estate, antiques or collectibles, use technical analysis, buy on dips or buy on breakouts, use a computerized trading system -- or just want to salt money away safely for a rainy day. Adopt the winning investment habits of the world's richest investors and you too can make more money more easily than you ever thought possible.
"This book is based on a stunningly simple, but highly intelligent and effective idea: Analyze the methods of Buffett and Soros-probably the two most successful investors of our time-and see exactly why they're so successful. Tier's approach is especially valuable because Soros's and Buffett's methods are often so different-yet, as Tier shows, the keys to their success are amazingly similar. Great book - something I rarely say about this genre." -- Doug Casey, editor, International Speculator
"Mark Tier's mapping of investment genius is simply masterful -- clean and true. What lifts his book even further above the rest, though, is his infectious delight in discovery and clarity of explanation as he hands you the attitudinal and behavioral keys to becoming the consummate investor." -- David Gordon, author, Expanding Your World: Modeling the Structure of Experience
"Tier has written an excellent book. His chapter on exit strategies alone (knowing when to sell even before you buy) is worth the price of the book." -- Dr. Mark Skousen, editor, Forecasts & Strategies
264 pages, Paperback
First published January 1, 2005
84 people are currently reading
1268 people want to read
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Displaying 1 - 29 of 29 reviews
August 5, 2015
Best book ever. You will learn about 7 mistakes in investment and study 23 good habits in investing.
April 25, 2015
Clearly explain the habit of famous investors have for their investment. Really fun and practical
March 27, 2021
it's an interesting exercise where they pick a rather conservative investor and a rather speculative investor, and they try to claim they are both interests in low-risk
May 19, 2016
Based on an extensive amount of research, the author identified 23 winning investment habits that are shared by ALL master investors, even as diverse as (conservative) Warren Buffett and (speculator) George Soros.
In the early chapters of the book, the author began by describing the 7 deadly investment sins, which would make 70% of the things we see or read in CNBC and Financial Times looks irrational. Then he writes in forensic detail each 23 winning investment habits, with an emphasis on psychological factors and the vital role of personalized investment system/strategy.
I instantly fell in love with this book as soon as I read the first few pages. And I strongly recommend it to anyone who wants to learn about investing/trading, or for those who simply love reading books on financial market.
In the early chapters of the book, the author began by describing the 7 deadly investment sins, which would make 70% of the things we see or read in CNBC and Financial Times looks irrational. Then he writes in forensic detail each 23 winning investment habits, with an emphasis on psychological factors and the vital role of personalized investment system/strategy.
I instantly fell in love with this book as soon as I read the first few pages. And I strongly recommend it to anyone who wants to learn about investing/trading, or for those who simply love reading books on financial market.
August 20, 2016
This book is bible for me. This is the first book i have read about stock market and I feel lucky for that.
Why 99% retails investor fail in stock market?
What makes average investor to smart investor?
How we should behave in market?
How to overcome greed and fear?
different habit of smart investor from average investor?
Well this book give you a clear idea about why.
This book not give you any damn technical knowladge but will change your behavior towards markets. you will be more confidence and mentally strong.
This will not give you idea to make money but surly give idea not to loose money and stay for long term.
I would strongly recommend to all beginner because...
"Rich people invest in time, poor people invest in money"
Thanks
Why 99% retails investor fail in stock market?
What makes average investor to smart investor?
How we should behave in market?
How to overcome greed and fear?
different habit of smart investor from average investor?
Well this book give you a clear idea about why.
This book not give you any damn technical knowladge but will change your behavior towards markets. you will be more confidence and mentally strong.
This will not give you idea to make money but surly give idea not to loose money and stay for long term.
I would strongly recommend to all beginner because...
"Rich people invest in time, poor people invest in money"
Thanks
February 5, 2018
Much better than expected
I started reading this book as a way of knowing more about George Soros and Warren Buffet. But found that the book is very helpful in helping you clarify your investment strategy.
Worth read for those interested in investing.
I started reading this book as a way of knowing more about George Soros and Warren Buffet. But found that the book is very helpful in helping you clarify your investment strategy.
Worth read for those interested in investing.
August 30, 2007
These two have more investment habits in common than most people think, yet they seem to be two different kinds of men with differing backgrounds.
August 18, 2014
หนังสือดีที่ควรอ่านก่อนเริ่มลงทุนครับ....จริงๆไม่ลงทุนก็ควรนะ
January 20, 2020
The author tries to synthesize “winning” investment habits into 23 easy sound bites. What’s interesting is he writes about Soros and Icahn who are totally different in style. However the bulk of the book is focused on Buffett. It’s not a bad book, but there are many other better investment books for fundamental investing - I can think of at least 4 other books that one can read instead. Overall an okay read but nothing spectacular.
July 2, 2021
The book summarized the investment philosophy of Buffett and Soros into 23 Winning Investment Habits. It also provided additional color about other investors and a number of book recommendations in various areas of investing. I liked how Mark Tier curated the frameworks as well as the actionable steps in adopting those frameworks. At the same time, the comparison between the Master Investor and Losing Investor drove home his points perfectly. Definitely a good book about investing and life!
October 7, 2017
1. Không tin vào các dự đoán.
2. Nguyên tắc đầu tiên : bảo toàn vốn, tránh rủi ro mức thấp nhất.
3. Xây dựng triết lý, tiêu chuẩn riêng cho mình, không đầu tư vào các cp không đáp ứng triết lý, tiêu chuẩn đó.
4. Không đa dạng hóa hạng mục đầu tư.
5. Khi đã tìm được hạng mục đầu tư đáp ứng triết lý, tiêu chuẩn, cần tin tưởng, không bỏ cuộc hoặc từ bỏ khi nó không còn đáp ứng tiêu chuẩn của mình.
2. Nguyên tắc đầu tiên : bảo toàn vốn, tránh rủi ro mức thấp nhất.
3. Xây dựng triết lý, tiêu chuẩn riêng cho mình, không đầu tư vào các cp không đáp ứng triết lý, tiêu chuẩn đó.
4. Không đa dạng hóa hạng mục đầu tư.
5. Khi đã tìm được hạng mục đầu tư đáp ứng triết lý, tiêu chuẩn, cần tin tưởng, không bỏ cuộc hoặc từ bỏ khi nó không còn đáp ứng tiêu chuẩn của mình.
This entire review has been hidden because of spoilers.
May 9, 2021
A book of habits for both investors and traders. This book doesn't teach you how to invest or trade, but rather prepares your state of mind and habits of been a successful traders or investors. As all season players know, the strategy is always simpler compared to the state of mind when you are heavily invested in the market
March 18, 2019
Best book among all the books I have read so far. Changed my view towards investment, Infact Changed myself. I think after reading it I am new person with a clear perspective.
I wish I had read this book earlier,but better late than never.
I wish I had read this book earlier,but better late than never.
October 4, 2019
Its been a while since I read this book, but I didnt have written a review.
For me it was amazing because it shows that the world of investments is simpler than we think it is. It is a world where wisdom pays out more than intelligence, and the author was happy to show it with this book.
For me it was amazing because it shows that the world of investments is simpler than we think it is. It is a world where wisdom pays out more than intelligence, and the author was happy to show it with this book.
November 28, 2017
Good advice
Great book for getting a plan to follow. Always good to expand knowledge and advice from well known investors. Would recommend.
Great book for getting a plan to follow. Always good to expand knowledge and advice from well known investors. Would recommend.
January 4, 2019
Amazing book for investors.
October 26, 2020
An amazing book! A necessary part of every investor's repertoire. Recommended to be read once a year - every year!
December 11, 2021
You will see the contrast way of investing and also which is the best way to do. Every investor should read this!!
July 15, 2023
Good methodology and framework. However, many applications are completely obsoleted for post-Covid era.
September 11, 2019
Solid advice on mindset for sensible investing.
February 7, 2016
As a beginner in the investment field, i chose this book so that i can make myself abreast of the way investors function. Had i been restricted to this kind of learning from this book, i would have been disappointed. This book is not just about investment, Its about people, and their personalities. It eloquently explains that the way people invest is a mere reflection of who they are. It is more about the kind of qualities you'll need to become a good investor rather than about the functioning and decisions of legendary investors. It surely is worth reading.
June 3, 2009
An excellent book for all investors. Clearly states the reasons why the author himself went from being a losing investor to a successful one. He applied these strategies himself and now others can too!
October 1, 2020
A surprisingly good read. A bit of everything kind of book. This book is mainly about the mental habits and deadly sins of investing. Nothing too fancy or revolutionary but i liked Mark's way of describing the habits of a 'master investor' and 'losing investor'.
October 24, 2007
I have read this book twice and still do not totally understand it. I am also confused about Soros’ idea of “free societies” and the some of his current political actions.
May 26, 2008
Really nice overview of how to develop a framework for intelligent investing.
November 2, 2010
Not the best or most entertaining, but not too bad.
Read
June 3, 2016Loved it. It's a great introduction for someone new to trading/investing strategies. It provides a good basis for describing, and building your own systematic strategy.
Want to read
August 2, 2016Recommended by Dr Michael Leong
easy to read and well laid out.
easy to read and well laid out.
March 27, 2017
This book gives a slightly brief overview of the habits of these two very sucessful investors. But as it does talk about quite a range of topics it lacks some depth in each idea.
Displaying 1 - 29 of 29 reviews