This is the best on Warren Buffett's investment strategies that I have read so far. And I have read many...
The part I like most was the chapter on financial ratios. Jain gives more than just abstract narrative and actually discusses financial mathematics, with examples, in a case-study like format. I believe such an approach at once makes the advice about value investing very practical and actionable.
Jain is a professor of finance at Wharton. I was surprised to see that somebody coming from academy could openly and favorably expound Buffett style investing strategies which challenge many of the current academic dogmas. Efficient Market Hypothesis , or its many variants, continues to becloud the investment management and financial econometrics as pedagogies at many of the B-schools. To Jain's credit , he has not allowed his theoretical finance background hamper his exposition of what has been seen to be holding true in practice.
Another guy who does this very well is Joel Greenblatt, who is essentially a Hedge Fund manager dabbling in academics as a hobby. I endorse his books too for the practitioners of value investing. Greenblatt, however, has evolved his own unique quantitative style with value investing as the base.
If you have never read any book on Warren Buffett style investing, this is perhaps the only book you might want to read if you do not want to read too many. You could for sure give Mary Buffett's books a pass after reading this one. The same goes for the rest of the cottage industry which has developed around writing books on Buffett, cycling the same content in different ways.
Almost started enjoying this book until read some information which is patently false and would be considered offensive by many faithful Hindus, although Westerners, except for ISKON converts, would not easily notice them. The most glaring falsehood that this work propagates are as follows:describes Krishna's supposed 'love affair' with Radha (who allegedly married to somebody else)as a story which is canonical and part of Hindu belief. He further alleges that Gopis who danced with Krishna were married and had a "love affair" with him. The attempt is to portray the holiest figure of Hindus as a fornicator. This is the most glaring scholarly gaffe from this author and reveals serious shortcomings in his claim as a scholar of Hinduism.A brief examination, undertaken with sincere intent, would have revealed to him that Radha is a completely fictional character invented by poet Jayadeva around 12th century CE and that none of any canonical accounts of Krishna in Puranas and Mahabharata have any mention of Radha. With regard to supposed affair of Krishna with married Gopis, the author again shows callous disregard or ignorance of the Hindu, scriptures. According to Bhagavatham, whence this story comes, Krisnha was merely a boy of eight when he played pranks on Gopis. Out of hundreds of pages dedicated to Krishna, the episode describing the childhood pranks of Krishna with Gopis barely lasts a page. The rest of the scripture describes his miracles, statesmanship and military exploits in great detail.The author obviously ignored the canonical texts of Hinduism and built a narrative of Krishna as a playboy based on non-canonical stories which are popular only in a heretical fringe of Hindu society.Other glaring mistakes: failure to designate left-hand tantric practices as ostracized by lay Hindus,Sikh scripture not using Hindu names for God & containing Mira's verses,South Indian kings being Shudras,etc.
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