How to determine what stocks are really worth-- and buy the best at a discount
"The Five Keys to Value Investing is practical, insightful, and a great roadmap to not only value investing but how to make money in the stock market." -- Joel Greenblatt, Managing Partner, Gotham Capital
"Jean-Jacques has written a great how-to guide for both beginning and experienced value investors. He skillfully draws on the canon and legacy of the great value investors, such as Graham and Buffett...a terrific addition on this time-tested methodology." -- Eric T. McKissack, Vice Chairman, Ariel Capital Management/Ariel Mutual Funds
Investors left to pick up the pieces of the shattered stock market are rediscovering value investing-- the time-tested technique based on assessing and buying businesses as opposed to "picking" hot stocks. The Five Keys to Value Investing provides a methodical framework for using value analysis to uncover investment opportunities based on their business strengths, and building a solid portfolio of stocks that is destined to provide superior long-term returns.
Written by a professional value investor who worked for the best, The Five Keys to Value Investing explains how to answer the four basic questions of value
Does this stock represent a good business to own? What is its balance between price and value? What specific events will spur it to appreciate? What are the stock's safety levels?
This is a great book for those who wants to learn the framework for how to evaluate if and when to buy a stock. It also gives the reader practical guidance on what to read, such as the most important sections of an annual report, and the most relevant investing journals. The best part though are all the case studies that brings home the points. This book is as relevant now as it was when it was written almost 20 years ago and is a great handbook for aspiring investors.