Hardcover: 256 pages
Publisher: Wiley; 1 edition (April 25, 2016)
Highlighting the history and approaches of four top value investors, authors Allen Benello, Michael van Biema, and Tobias Carlisle tell the story of the investors who dare to tread where few others have, and the successful track records that result from their efforts.
The book unveils the strategies that make concentrated value investing profitable, while at the same time showing how to mitigate risk over time.
Turning the notion of diversification on its head, concentrated value investors pick a small group of undervalued stocks and hold onto them through even the lean years. The approach has been championed by Warren Buffett, the best known value investor of our time, but a small group of lesser-known investors has also used this approach to achieve outstanding returns.
Economists and Investors
The book’s first eight chapters, the ninth provides the conclusion, highlight an individual and their relationship to concentrated investing. As examples, Chapter 2 offers John Maynard Keynes: Investor Philosopher – The Economics of Concentration while Chapter 6 gives us Kristian Siem: The Industrialist – The Importance of Permanent Capital to the Long-Term Investor.
For those that have studied investing, particularly value investing, it’s likely some of the names in the book will be familiar, while it’s likely that most will not be. However, each investor offers a unique story, skill set, and philosophy. While you may not radically change your approach to investing, Concentrated Investing will provide food for thought with respect to the conventional wisdom related to diversification.
Available at Amazon, readers can choose between Kindle and Hardcover formats.