{"product_id":"common-stocks-and-common-sense-9781119913245","title":"Common Stocks and Common Sense","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eIntroduction ix\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1 My Approach to Investing \u003c\/b\u003e\u003cb\u003e1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 The Brief Story of My Life \u003c\/b\u003e\u003cb\u003e17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 IBM \u003c\/b\u003e\u003cb\u003e31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSuccessful investing is about predicting the future more accurately than the majority of other investors; we predict a change in IBM’s cost structure\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Interstate Bakeries \u003c\/b\u003e\u003cb\u003e49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSuccessful investing often is heavily dependent on the capabilities and incentives of corporate leadership\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 U.S. Home Corporation \u003c\/b\u003e\u003cb\u003e63\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvestors can become frustrated when their swans are priced as if they are ugly ducks\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Centex Corporation \u003c\/b\u003e\u003cb\u003e67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLarge profits can be earned by successfully predicting a major positive change in the fundamentals of a company or an industry\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Union Pacific (Railroad) \u003c\/b\u003e\u003cb\u003e79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvestors often do not adequately differentiate between shortterm discrete problems and long-term systemic weaknesses\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 American International Group (AIG) \u003c\/b\u003e\u003cb\u003e91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eI went to bed with Miss America and woke up with a witch; this can happen to even the most careful of investors\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Lowe’s \u003c\/b\u003e\u003cb\u003e101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUsing common-sense logic, we conclude there is a high probability that the U.S. housing market will improve markedly in the near future; investing is logical and probabilistic\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Whirlpool Corporation \u003c\/b\u003e\u003cb\u003e113\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExtraordinary patience is required when a deeply undervalued stock continually remains deeply undervalued\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Boeing \u003c\/b\u003e\u003cb\u003e137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOpportunities can occur when great companies develop temporary problems\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Southwest Airlines \u003c\/b\u003e\u003cb\u003e157\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhen tight markets lead to sharply higher prices for goods or services, earnings and share prices can become buoyant, even for normally unattractive businesses\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Goldman Sachs \u003c\/b\u003e\u003cb\u003e169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLarge profits can be earned when perceptions temporarily differ from realities\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 General Motors \u003c\/b\u003e\u003cb\u003e187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOne must rely on judgment and a sixth sense when the fundamentals of a company become unclear\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15 A Letter to Jack Elgart \u003c\/b\u003e\u003cb\u003e221\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA letter that summarizes my approach to investing and that includes a number of do’s and don’ts I found useful in my career\u003c\/p\u003e \u003cp\u003eAbout the Author 233\u003c\/p\u003e \u003cp\u003eIndex 235\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49407190073687,"sku":"9781119913245","price":22.94,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119913245.jpg?v=1730498493","url":"https:\/\/bookcurl.com\/products\/common-stocks-and-common-sense-9781119913245","provider":"Book Curl","version":"1.0","type":"link"}