If you have been looking for a good primer on Value Investing - this book answers the mail.
The book is broken down by the authors “Three Pillars” of Value Investing:
PHILOSOPHY – how to think differently; be patient; and embrace failure
PATH – how to learn; simplify and focus; and earn, save, and invest
PRINCIPLES - stocks are businesses; moody Mr. Market; and Margin of Safety
The thing I liked most about this book - is that it has made me rethink my holding periods for individual stocks. I really appreciate any book that forces a review of my core investing processes - backed up by logic and good examples.
I don't agree with the author's view that Options should be avoided - especially when you want to buy Stocks via cash secured puts - but I take his point, most novices should keep it simple.