Description
Book SynopsisDiscover the secrets of the world''s top concentrated value investors Concentrated Investing: Strategies of the World''s Greatest Concentrated Value Investors chronicles the virtually unknownbut wildly successfulvalue investors who have regularly and spectacularly blown away the results of even the world''s top fund managers. Sharing the insights of these top value investors, expert authors Allen Benello, Michael van Biema, and Tobias Carlisle unveil the strategies that make concentrated value investing incredibly profitable, while at the same time showing how to mitigate risk over time. Highlighting the history and approaches of four top value investors, the authors tell the fascinating story of the investors who dare to tread where few others have, and the wildly-successful track records that have resulted.
Turning the notion of diversification on its head, concentrated value investors pick a small group of undervalued stocks and hold onto them through even th
Trade Review
“…this is an original approach to both value investing and diversification, and brings a new perspective to some familiar topics.” (Money Week, May 2016)
Table of ContentsPreface ix
Acknowledgments xiii
Introduction Concentrated Investing 1
Chapter 1 Lou Simpson: The Disciplined Investor 5
A Portrait of Concentration
Chapter 2 John Maynard Keynes: Investor Philosopher 35
The Economics of Concentration
Chapter 3 Kelly, Shannon, and Thorp: Mathematical Investors 71
Concentration Quantified
Chapter 4 Warren Buffett: The Kelly-Betting Value Investor 89
Portfolio Concentration for Value Investors
Chapter 5 Charlie Munger: Concentration’s Muse 109
Quality without Compromise
Chapter 6 Kristian Siem: The Industrialist 131
The Importance of Permanent Capital to the Long-Term Investor
Chapter 7 Grinnell College: The School of Concentration 159
Concentration and Long-Term Investing for Endowment
Chapter 8 Glenn Greenberg: The Iconoclast 177
Simple, Common Sense Research, and Tennis Shoes
Chapter 9 Conclusion 203
The Concentrated Investor’s Temperament
About the Authors 221
Index 223
