The Motley Fool Investment Guide: How The Fool Beats Wall Street's Wise Men And How You Can Too

by David Gardner, Tom Gardner

A completely revised and updated edition of an investing classic to help readers make sense of investing today, full of “solid information and advice for individual investors” (The Washington Post).

Today, anyone can be an informed investor, and once you learn to tune out the hype and focus on meaningful factors, you can beat the Street. The Motley Fool Investment Guide, completely revised and updated with clear and witty explanations, deciphers all the current information—from evaluating individual stocks to creating a diverse investment portfolio.

David and Tom Gardner have investing ideas for you, no matter how much time or money you have. This new edition of The Motley Fool Investment Guide is designed for today’s investor, sophisticate and novice alike, with the latest information on:
—Finding high-growth stocks that will beat the market over the long term
—Identifying volatile young companies that traditional valuation measures may miss
—Using online sources to locate untapped wellsprings of vital information

The Motley Fool rose to fame in the 1990s, based on its early recommendations of stocks such as Amazon.com, PayPal, eBay, and Starbucks. Now this revised edition is tailored to help investors tackle today’s market. “If you’ve been looking for a basic book on investing in the stock market, this is it...The Gardners help empower the amateur investor with tools and strategies to beat the pros” (Chicago Tribune).

Genres: Finance, Nonfiction, Business, Money, Personal Finance, Economics, Reference

320 pages, Paperback

Published January 2, 2001

About the author

Tom and David Gardner cofounded The Motley Fool, a multi-media financial education company, in 1993. Since then they have co-authored four New York Times bestsellers, including The Motley Fool Investment Guide and The Motley Fool's Rule Breakers, Rule Makers.


Librarian note:
Ther is more than one author in the GoodReads database with this name

Reviews

[Taylor Ellwood · Rating 5 out of 5]

This is a must read book if you ever plan to retire or you just want to understand how investing works and how it could benefit your life. This latest edition is updated with brilliant insights that can help you get comfortable with investing and learn how to educate yourself. This book will provide you an in-depth tour of how investing works, while also inviting you to learn more. Reading this book and implementing its advice helped me get comfortable with investing my own money in the stock market.

[Daniel Cunningham · Rating 3 out of 5]

The somewhat cheeky style is a trademark of their writing in my limited experience, but at book-length, it gets a bit old. Decent Cliff's Notes on reading balance/cashflow sheets, a handful of targets for ratios, but the first 1/4 (1/3?) is basically, "Don't get overcharged for mutual funds and brokerage fees," which... well, I guess must have an audience.

2.5 stars rounded up.

[Dee Renee Chesnut · Rating 2 out of 5]

Motley Fools stopped recommending its Dow Dividend Yield strategy in 2000.
This book explains some ways to interpret important information from income statements and balance sheets and this does not go out of date.
There website, www.fool.com, is more current than this book.

[Sena · Rating 4 out of 5]

4/5 stars.

[Mark · Rating 5 out of 5]

This was an excellent compilation of investment foundations. Great for amateur and more experienced investors.

[Trung Le · Rating 5 out of 5]

An Awesome Book !

A great and simple investment book ever. I actually subscribe fool.com service which has been very reliable with decent information. This book should be jotted down, taken notes, and learnt as a basic investment textbook for non-financial investors.

[being Cristina · Rating 4 out of 5]

A great read either you are a beginner or familiar with the market. The strategies laid out are unconventional and effectively tested by the authors. Fun to read as well.

[Brendan Schilling]

Ticker symbols Two to four letters . Always five letters , ending with an X . Pricing and trade execution Trade just like stocks on exchanges ( thus , the “ exchange - traded ” in their name ) . Their prices change throughout the trading day , and orders are executed very quickly while the market is open . Are priced just once a day , after the market closes . At that point , any orders placed during the day will be executed . Trading costs Brokerages generally charge a commission to buy or sell , though some offer commission - free trades of select ETFs . Many index funds can be bought on a “ no - load ” ( i.e . , no - commission ) basis , especially if bought directly from the fund company . Discount brokerages often charge a “ transaction fee ” to buy funds from particular fund families . Investment minimums No minimum investment as long as you can afford the price of a share and trading commission . Most mutual funds require a minimum investment , generally ranging from $ 1,000 to $ 3,000 ( though it can be lower if you sign up for an ongoing “ automatic investment ” program ) . Can be shorted , bought on margin , or used with options strategies Yes . No . Can be bought and sold through special orders , such as limit orders , stop - loss orders , and good - til - canceled orders

We keep moving forward , opening new doors , and doing new things , because we’re curious and curiosity keeps leading us down new paths . — Walt Disney

The Efficient Markets Theory ( EMT ) backs the traditional , academic approach to the stock market and is the philosophical underpinning of the index fund and ETF industry it spawned . EMT suggests that the stock market is an “ efficient ” thing , wherein all present prices best reflect the underlying , fair - market value of stocks . Stocks , EMT theorists tell us , are always priced fairly ; the only thing that bumps them up or knocks them down are unforeseeable events — mergers , new partnerships , announcements of new products or services , and so on . The future . Because these price stimulants are “ unforeseeable , ” we are told , all future movements on the stock market are therefore random and unpredictable .

The market has been beaten consistently and significantly by the high - profile likes of Philip Fisher , Peter Lynch , and Warren Buffett , to say nothing of tens

of thousands of Foolish Everymen ( and Everywomen ) who’ve logged their time on our website and in our investment services .

Remember the Netflix debacle in the summer of 2011 ? After growing out the streaming - video library sufficiently to stand on its own , the company announced a huge price increase , and followed up a few months later saying that it’d split the DVD - by - mail business off into a new brand , dubbed Qwikster of all things , and force Netflix users to split their allegiance ( and credit card info , and movie preferences ) between two websites . The stock sold off to a low around $ 63 a share . The questions swirled : Would Netflix kill its subscriber growth in one fell swoop ? Was Netflix CEO Reed Hastings really so out of touch with his customers ? Would Apple and Amazon use the turmoil to steal subscribers and kill off this upstart once and for all ? And for the love of all that is holy , who the heck thought naming the DVD business “ Qwikster ” was anything other than completely ridiculous ? Netflix : a brand name forever scarred ?

only invest money that you can keep invested for at least five years . And if you can leave it there longer that’s even better . Just look at Warren Buffett : his patience is prodigious ! It’s the single strongest card that individual investors can play : patience .

But be careful to read the fine print , including how they make money , so you’re completely informed .

Discount Brokerage Center at Fool.com , where we provide you an easy one - stop shop for making your decision .

you can also buy some personal finance accounting software or set up your own tracking system using Excel to maintain a precise account of your investments .

Cognitive dissonance is the uncomfortable feeling of holding two contradictory ideas in your head at the same time . “ Doughnuts are

bad for me . I’m going to eat a doughnut . ” That’s cognitive dissonance , and we’re willing to jump through mental hoops to reduce it .

You buy a stock only because you think it’s cheap , and after realizing you were wrong , decide to hold it because you like the company’s CEO . Never underestimate your mind’s power to convince you to do something you know you shouldn’t .

Market capitalization is one of the best measures of a company’s size . Also known as market cap , it’s the total market value of a company’s outstanding shares of stock — just multiply a company’s shares outstanding by the share price .

Large cap Over $ 4 billion Mid cap $ 1 billion to $ 4 billion Small cap $ 300 million to $ 1 billion Micro cap Below $ 300 million

Peter Lynch in his wonderful book One Up on Wall Street . It didn’t hurt that Lynch put his money where his mouth was . He made a whole career out of expounding his love of growth stocks and generating superior returns by investing in them .

We ask ourselves where the company , not the stock , will be in the next three to five years and beyond . We look at criteria such as competitive advantage , market opportunity , strength of leadership , and other characteristics that are tough to plug into a financial calculator .

FIVE TENETS OF A GREAT INVESTMENT
Culture
Strategy
Financials
Safety ( aka the optimistic side of “ Risk ” )
Valuation

look at all the different slices that I can . I look at the Fortune Best Companies to Work For list and the Ethisphere Most Ethical Companies list , both of which have been shown to outperform the market . And I look at Glassdoor.com , where past and present employees can anonymously review their employers .

Ownership and compensation information , including the number of shares owned by insiders and major investors , is available in a company’s proxy statement ( also known as a Form 14A ) . You can usually find this online at a company’s investor relations

Find companies whose product you buy , use , throw away , or however you’ve used it , you need to repurchase it within thirty days .

Or think about the shift from desktop to mobile . More and more people are spending time with their iPhones and Androids and less with the clunky machine that ties them to one location . What companies will benefit — and which will be harmed — by that platform shift ? Who is most suited to the mobile environment ? Identify changes that are coming then try to figure out the companies best positioned to capitalize .

THE 6 SIGNS OF A RULE BREAKER 1 . “ Top Dog ” and First Mover 2 . Sustainable Advantage 3 . Past Price Appreciation 4 . Good Management 5 . Strong Consumer Appeal 6 . Overvalued , According to the Media

There are emerging industries all around us : robotics , cloud computing , virtual reality , artificial intelligence , and many others .

It’s almost impossible to overstate the power of a strong brand . If a business has mass consumer appeal , sustaining extraordinary growth is that much easier . We want to buy products from companies with strong reputations and brands . A brand eventually reinforces itself — that’s why a company like Starbucks rarely needs to advertise .

Messngr’s net profit margin in the year 2015 was an impressive 14.8 percent ( $ 7.4 million divided by $ 50 million ) . But in 2016 , the company followed up with only a 13.0 percent net margin ( remember : $ 12.6 million divided by $ 97 million ) . Still very high , but lower than the year before . A bad sign . Stocks often trade off forward expectations , and forward expectations are deeply rooted in trends . Because the trend here is falling , even a Fool couldn’t express much surprise in MESS stock’s decline the day that these numbers were released ( though a 22 percent drop might be a little too harsh ) .

E equals the price of a stock divided by its company’s earnings per share over the past twelve months .

[Christopher Lawson · Rating 4 out of 5]

In this latest edition of THE MOTLEY FOOL INVESTMENT GUIDE, David and Tom Gardner provide some good investment advice, along with some historical perspective. They note that the stock market has proven to be an excellent investment—but only when viewed over a long time frame: “The Stock Market Is Pretty Close To A Sure Thing If You Have The Proper Timeline.” The longer your time frame, the more likely you will make money.

I especially like the book’s theme that an investors should make their own financial decisions—and not turn over a portfolio to a professional, who has a vested interest in making fees. There’s one person who can best look out for your interests—and it’s not a stock broker. “You are the individual most personally invested in your financial success and, therefore, are the one best suited to make your money decisions.”

The authors emphasize many times throughout the book how poorly actively managed funds do, compared to the market a large. Over the long run, almost all actively managed funds compare poorly. Here’s a good metric: “Standard & Poor’s reports that between 82 percent and 88 percent of all domestic stock mutual funds have underperformed the market’s average return. . . “

Buying index funds for the long-term? Great! You will almost certainly beat all the actively managed funds.

Day-Trading? Well, not so likely.

The authors ask the question, “Why Do Most Funds Underperform?” Well the answer is easy: fees. “The biggest contributor to lagging fund performance is fund expenses.” They point out the very low fees generally charged by index funds—but even there, some funds are greedy. The authors note the very low fees charged by Vanguard. (Note: I notice that the Vanguard 500 Index Fund has an even lower expense ratio than the authors cite. I checked recently, and the expense ratio was only .04%.)

David and Tom spend a lot of time emphasizing how well index funds do over the long run. They encourage active investors to always compare their results to an index fund. In other words, index funds should be the standard of comparison. Nevertheless, they suggest that with proper research, many investors can beat the index funds: “If you’re able and willing to take risk beyond the index fund, there’s a wide, wide world out there. “

All in all, I found THE MOTLEY FOOL INVESTMENT GUIDE to be a good, common-sense guide to investing. I especially appreciate the authors clearly explaining how fees eat up investment returns. The Gardners illustrate so well the advantage of index funds, that I intend to continue in that investment path. (Of course, other readers are likely more ambitious than me.)

If you are planning to actively manage your portfolio, the authors have lots of tips. For example, the appendix also contains some guidelines for hiring a discount broker. I also enjoyed the tongue-in-check investment suggestion anecdotes at the end of the book, as well as the amusing “Favorite Reader Emails.”

see also Bassocantor.com/blog/motley

[EG Gilbert · Rating 5 out of 5]

I got a lot of good ideas from reading “The Motley Fool Investment Guide” by David & Tom Gardner. I’ve been following the Motley Fool since the '90s (www.fool.com) and I think their principles are sound.

Basic Philosophy:
+ Think like an owner of a company not a buyer of a stock
+ Expect to hold your position at least five years, so consider where you think this company will be relative to the competition 5-10 years from now
+ Buy companies that:
--Dominate their industry
--With a sustainable competitive advantage
--Led by honest efficient management
--Whose interests are aligned to shareholders

Other key takeaways:
++ The essence of the Motley Fool approach is to leverage compound interest over time. A good company may seem expensive, but it should continue to perform well over time so tiny price fluctuations now will become irrelevant in hindsight.

++ Take your time and be willing to do nothing. It’s human nature to want to take action, especially in rough times, but that is when you can do the most damage. Be patient.

++ Monitor your holdings but don’t obsess or over-analyze. Watch quarterly reporting and look for underlying reasons for variances from expectations. Is this temporary or structural?

++ Track your performance against benchmarks like the S&P 500. If you’re under-performing (after ALL costs are accounted) then you’re doing it wrong. Better to just buy an index fund.

Five Basic Investing Lessons:
1. Don’t invest in anything you don’t understand
2. Manage your own money if you have the time and instinct
3. Don’t fall in love with any given investment
4. Make sure you understand the incentives of the people giving you advice
5. Fight the urge to concentrate on short-term gains; think long-term

[Robert Hernandez · Rating 5 out of 5]

This is a great book for someone who has no idea how to start investing. Its very fun to see how the motley fool podcast information resonates in this book(not as an ad, but rather by its content) and is extended to breakdown what it takes to be able to pick stocks out for the long run. It does show the power of many investing vehicles, including mutual fund, stock, index funds, shorting, and options, and their pros and cons. It puts greater emphasis to picking your own stock as an individual, but recognizes the value to either to hire someone that does above market indexes, or just plainly do the index funds. It also wraps up at the end on how to start, some definitions on some terminology(I wish they actually expanded more on this), and a motley fool fool’s day jokes(which they should keep doing) to tie it up. It also demonstrates in more detail how Tom and David invest, the two CEO, which is nice to see how they compare and contrast. All in all, a great book updated to relate the times.

[Amin Mo · Rating 5 out of 5]

There are a few things I didn’t like, both in content and writing, like that there is too much humor in the book which kind of set it of as unprofessional, it’s inept in a stock market investing book, and there is advocation to follow risky investing too, which surprised me as very odd. The 100 pages were useless, and the book is about 240 pages, so that’s almost 40%.
Still, the book deserves five stars for presenting something new to me when it come to evaluating a company, which is to evaluate it by looking at culture, operation team, strategies and not statistics and figure in the report alone. And even for statistics, it presents new metrics to compare with when considering investing in a company, and covers figures in the report and explaining them.
There are also many more things that were addressed in the book that I heard before and always wanted to learn. I rate book upon the knowledge manifested, and this one did it subtly.

[Maaz Ahmed · Rating 4 out of 5]

It's best to get past the "discussion" areas in the book as they are rather verbose.

However, the sections of the book which cover what one should look for in an investment as well as how to research companies and understand their balance sheets and fiscal statements, what ratios and fundamentals to use to screen potential investments, etc. was all great. Although this is very similar to what other investment books discuss (understandably since most are value/growth investment books) but it is discussed in a much more understandable and beginner friendly manner.

A good read for those looking to manage their own money and not knowing where to start.

[Daniel · Rating 4 out of 5]

A comprehensive book on investment which covers the art and science of picking stocks. I like how the book warns against the practice of day trading and urges patience. The coverage of how to assess small cap investment was very informative and the strategies offered are accessible to lay readers. The book had the feel of being a marketing mechanism for the Fool’s website and fee based services, though the advice given does give the reader a road map towards investing and making good consumer choices. The advice on Mutual Funds and ETFs was particularly good, and was presented as the counter argument to stock picking. Passively managed Mutual Fund or ETF which follow the leading indexes do have good returns and outperform the efforts of actively managed funds and “day traders,” and the fools let you know this. They Fools also teach how to take risks which can outperform the markets. I like this book and will refer back to it often.

[Kay Strain · Rating 5 out of 5]

Excellent

Whether you are a beginner or a long-time investor, this book is a good one. For beginners, it is full of investing principles and is written in an easy-to-understand, conversational style. It gives you tips on how to spot small, fast-growing companies that could be around for the long-term; and it provides warning signs to heed. It guides you through the basics of financial statements, but equally valuable is the practical advice — “Foolish” (capital “F”) as they call it. It’s worth your time. — Mike Strain

[Andrew Imrie · Rating 3 out of 5]

A bit disappointed really. The first UK edition (published almost 20 years ago) had a huge impact on helping me navigate my way to putting my finances / investments in order (i.e. avoid managed funds and most financial advisers, utilize low cost index tracker funds, etc). But since then the Motley Fool have gone a bit weird - regularly blitzing people with advertisements for their subscription services - and then the second half of this book, which seems to go against their earlier advice by saying that, yes, you can beat the market after all. For the average person, I'm not convinced.

[Kevin Furr · Rating 4 out of 5]

After re-reading Peter Lynch, I was deep in nostalgia for the 1990s individual investor scene. And so revisiting the original Motley Fool book, 1st edition, by Tom and David Gardner, which I probably read hot off the presses back in 1996. What I'd long forgotten is that the book starts with an intro about Iomega -- a stock that ran up 200-fold over the course of 2 years from 1994 through 1996, cheered along the way in the Motley Fool message boards on AOL.

For a time Motley Fool was inseparable from Iomega among whoever might have been paying attention. If someone ever wrote MY biography, it would have to have a chapter on Iomega, and the Motley Fool Iomega message board, which is mentioned in the intro, and on which I was surely one of the top 5 or so contributors during that run as a group of us amateurs taught ourselves how to analyze stocks. Iomega probably peaked about the time Joe Kernen on CNBC reported the latest news with the ejaculation "my-oh-myyy-Omega!".

But to the Fool. Gen-X brothers Tom and David Gardner started up an investment newsletter in 1993 to promote their investment approach and advice. Soon they had a popular forum on AOL, and then this book, and then a website with its own forums, even a nationally syndicated radio show. (If starting out today no doubt they'd be YouTubers with a subreddit, a Discord channel, a podcast, and a Patreon). They and the Motley Fool are still around today at fool-dot-com with ads on the Internet.

But this is all about the 90s.

Riffing off Shakespeare, the "Motley Fool" conceit was about Fools versus the Wise -- where the Wise represent the conventional wisdom and institutions of Wall Street, and the Fools are individuals who can think on their own, do their own analysis and research. The Wise tell people to just buy mutual funds, or to take the simplified Buy/Sell/Hold advice being given by some pundit on CNBC, or worst of all take sales calls from a full service broker. The Fools have contempt for Wall Street, but certainly not for certain exemplary famed investors like Warren Buffett and Peter Lynch, Motley Fool heroes.

Some advice here is timeless; some is of its time. There's a chapter telling you to get online. Yes there was an Internet in 1996, and you could get online -- but lots of people weren't yet, and needed to be told. Online discount brokers charged $70 a trade, instead of today's going rate of nothing. (And Gen Z thinks they have it rough.) The many references to resources on the Motley Fool AOL channel are of course long obsolete; and a mention of the Dow Jones Index shows a few companies long gone from it, like Woolworth and Sears.

The brothers proceed to explain their stock-picking methodology, in terms of both screening a batch of candidates and then analyzing them. They have a preference for profitable small-cap growth stocks with no debt. They give the obligatory run-down of how to read the financial statements that companies issue each quarter, but they aren't much interested in the long list of financial ratios many nerds love to employ. Instead their key metric is to compare a company's expected growth rate of estimated net income per share (as can be gleaned from Wall Street Analysts) to the PE ratio, hoping to find one where the PE ratio is lower than the growth rate. They call this the Fool Ratio -- but they hardly invented it, years before Peter Lynch referred to this same PEG Ratio (PE/Growth rate) in his book "One Up on Wall Street". They take pages to elaborate on the idea that they want a Fool Ratio of no higher than 0.5: since a fully, fairly-valued stock should have a ratio of 1.0, one of 0.5 means an underpriced stock that could easily double in a short time -- The Fools' preferred criteria. (Peter Lynch had also suggested a 0.5 PEG ratio 7 years earlier.)

As for criticism, yeah the PEG ratio is not rocket science and I've long used it by instinct whenever I look at a stock. But fact is, it's hard to find a good company with the low PEG ratio the Fools suggest. If a company's earnings are due to grow, everyone knows that and has bid up the price, so you don't get a sufficiently low PE/G ratio. And if you manage to find such a sample one day, that probably just means the company's in trouble and analysts simply haven't drastically lowered the earnings estimates yet, but soon will. That's my experience anyway. Further, I've often seen ads from the Fool in modern times touting their early purchase of Amazon and how much it's gone up. Rest assured the highly indebted, deeply unprofitable Amazon of the late 1990s and early 2000s did not fit the Fool stock criteria, no matter what future expectations people had for it.

Keeping in mind this is the 1996 printing, only a small portion of the book is actually devoted to meaty stock-picking and analysis. Much of the rest is full of obsolete blather warning about the bite of commissions, the problem of full-service brokers calling you up to sell you stuff, the wonders of the 1996 online world and its investing forums, and a glimpse into that novel world of people touting penny stocks on the Internet. As well there is quite a bit of summarizing and recapitulating going on, along with warnings against buying lottery tickets, using technical analysis, day trading, and following market pseudoscience like The Elliott Wave Theory. Anyway I'm thinking I might have to look into the most recent edition, the 3rd, printed in 2017, to see what updates they've done.

[Dick · Rating 4 out of 5]

I’m a long admirer of David and Tom Gardner. Their philosophy on growth stock investing is a good complement with Buffett’s value investing for any long term investors. When I bought the book I was well aware that this is supposed to be a basic investing guide for beginners, and given that I’m already a close followers of the author, it’s such a pleasant surprises that I still managed to have picked up some great new concepts from the book. It exceeded my expectation.

[Desmond · Rating 5 out of 5]

This book is amazing. I’ve never found a book on investing that strikes such a balance between making money over the long term while showing genuine for concern in where and when that money is investing. Tom and David Gardner show you how to make smart investments (Foolishly, with a capital “F”) in a deliberate way. I have read this book twice. It’s great for the young and old, novice and experienced.

[Y T · Rating 5 out of 5]

I found this book a gem among so many investment books out there. The authors have simplified the key things to look out for, as well as covered the more advanced topics such as options, shorting and margin trading.

If you have to zoom in on the key, read the chapters on the Five Tenets to Everlasting Investing. That would set you up to understand their approach.

Highly recommended read for everyone into investing, no matter what stage of your journey you're at.

[VanessaRC · Rating 5 out of 5]

A lot of these types of books have clear bias towards an investment path/methodology or approach. While it's clear how the writers of the book choose to invest, it gives you really good tools for a better understanding when choosing any type of investment for yourself. I value that, I want to have the knowledge this book offers, and the opinions as secondary material, and it's exactly what I got.
I am keeping it close.

[Tariq · Rating 4 out of 5]

Limited Sophistication

While the book provides a solid foundation, it lacks the comprehensive analysis and nuanced perspectives that sophisticated investors would need for advanced portfolio management. The content, though well-presented, doesn't delve into complex market mechanisms or offer the detailed quantitative frameworks necessary for institutional-level investment strategies.

[Mala Ashok · Rating 3 out of 5]

This is a good book for investors who are starting out in their investment journey. Since i'm not in that demographic I did not find it too useful. Also, if you are looking for specific stock picks you are going to be disappointed. The tools are there. Apply them and you can build a good investment portfolio.

[Mike Steele · Rating 5 out of 5]

This is the one book that anyone who wants to start investing should read first. Written for investors of all levels, from novices who know nothing, to the advanced who want to improve. The first edition of this book back in the 1990's set me on the course for a successful financial life, and this new edition brings everything up to date.

[Diko Raditya · Rating 5 out of 5]

Sometimes being a fool is better than being a wise. This book will cover many type of investment, from safer one like mutual and index fund, to the riskier one like shorting stock, and stock option. And it will tell you the reason to and not to go for it, with easy example to follow. Definitely a must read for new investor

[Rick · Rating 4 out of 5]

Small investors basically have two good choices: invest in low cost index funds, or use simple strategies that bring you advantages that investment funds can't use. This book clearly and simply explains both. I'd like them to write a book with more detail, but I suppose that's why they have a huge web presence and a bunch of subscription services.

[MADHUKAR DAYAL · Rating 5 out of 5]

First published in 1996 (re-pub 2017), all lessons shared and explained in this book remain valid in markets even today. Successfully investing in small caps remains one of the most difficult achievements for even the most savvy investors. They have explained their approach to small-caps investing which I have particularly liked.

[Michael · Rating 4 out of 5]

Full of great information. A very informative read. This was the first Motley Fool Guide
I and read and I enjoyed it very much. Well written and easy to understand. I won this book in a GoodReads Giveaway.

[Prateek · Rating 4 out of 5]

Nice book, the author talks in detail about his/her approach while assessing businesses , Focussing on certain aspects of daunting financial statements and the reasons for it - this is certainly a handy tool in any investors arsenal.

[Daryl Henry · Rating 4 out of 5]

A good, common sense book that provides a framework on how to think about the stock market.

It’s encouraging to think that average people can beat the s&p 500 with the right strategy and discipline