The Dhandho Investor: The Low-Risk Value Method to High Returns

ISBN-13: 9780470043899 / Angielski / Twarda / 2007 / 208 str.

Mohnish Pabrai

Opis

A comprehensive value investing framework for the individual investor In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Readers will be introduced to important value investing concepts such as "Heads, I win Tails, I don't lose that much ," "Few Bets, Big Bets, Infrequent Bets," Abhimanyu's dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks. Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy-to-use format. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals.

Recenzje

"Today′s greatest rising investor"––Motley Fool

"How to invest the way an Indian migrant with little money would do – by looking for companies with little downside " (Financial Times, Tues 26th February)

Spis treści

Acknowledgments.

1. Patel Motel Dhandho.

2. Manilal Dhandho.

3. Virgin Dhandho.

4. Mittal Dhandho.

5. The Dhandho Framework.

6. Dhandho 101: Invest in Existing Businesses.

7. Dhandho 102: Invest in Simple Businesses.

8. Dhandho 201: Invest in Distressed Businesses in Distressed Industries.

9. Dhandho 202: Invest in Businesses with Durable Moats.

10. Dhandho 301: Few Bets, Big Bets, Infrequent Bets.

11. Dhandho 302: Fixate on Arbitrage.

12. Dhandho 401: Margin of Safety Always!

13. Dhandho 402: Invest in Low–Risk, High–Uncertainty Businesses.

14. Dhandho 403: Invest in the Copycats rather than the Innovators.

15. Abhimanyu s Dilemma The Art of Selling.

16. To Index or Not to Index That Is the Question.

17. Arjuna s Focus: Investing Lessons from a Great Warrior.

Notes.

Index.

O autorze

Mohnish Pabrai is the Managing Partner of Pabrai Investment Funds, an investment group modeled after the original 1950s Buffett Partnerships. Since its inception in 1999, Pabrai Funds have delivered annualized returns of over 28% (net to investors). He has been favorably profiled by Forbes and Barron′s and has made guest appearances on CNBC and Bloomberg TV and Radio.

Blurb

Praise for The Dhandho Investor

"Mohnish Pabrai is a relentlessly insightful thinker who delights in decoding the esoteric world of finance and also knows how to tell a good yarn. Whether you′re mystified by what drives stock prices up and down on Wall Street or you′re sure you know, you′ll understand better when you read this book. Pabrai′s tales of high finance and his clever examination of the core principles of deep value are packed with handy ideas you should use in your own investing."
Stephane Fitch, European Bureau Chief, Forbes

"I read The Dhandho Investor from start to finish in one sitting I couldn′t put it down. Mohnish shares the ′secrets′ of his extraordinary success and has made a significant contribution to the literature on value investing."
Whitney Tilson, General Partner and founder of T2 Partners LLC
Managing Editor and founder of Value Investor Insight
Chairman of Value Investing Congress

"All of the techniques you need to attain high returns on your investments are here, explained through the examples of successful entrepreneurs and of Pabrai, himself an accomplished prodigy of Buffett′s methods. Everyone must understand this methodology if they are to do well in the stock market."
Timothy Vick, Senior Portfolio Manager, The Sanibel Captiva Trust Co.,
author of How to Pick Stocks Like Warren Buffett

"The Dhandho Investor has nailed it! Pabrai has simplified the strategy for successful investing. ′Heads, I win; tails, I don′t lose much!′ I don′t have to buy a whole business, just purchase the publicly traded stocks of a few ′right′ businesses. I suggest this book to anyone looking to hone their investment skills."
Patrick Fitzgerald, President, Fitzgerald Management