book reviews

97 Posts

Book Review: Brandes on Value

Brandes on Value: The Independent Investor

Well-known value investor Charles H. Brandes, CFA, presents excellent long-term insights into the field of value investing. Examining a broad array of topics that have evolved since his earlier book, Brandes’s basic advice on value investing remains the same: buy cheap with a margin of safety, avoid the herd, and think long term. Read more

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Book Review: How to Really Ruin Your Financial Life and Portfolio

How to Really Ruin Your Financial Life and Portfolio

The author draws on his own investing experience to deliver a tongue-in-cheek guide on how to avoid common financial mistakes. Seasoned professionals and novice investors alike will laugh their way through the book’s lessons because the author possesses a brimming wit and a lifetime of collected wisdom, often gained through the same mistakes he cautions readers against. Read more

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Book Review: The Innovation Paradox

The Innovation Paradox: Why Good Businesses Kill Breakthroughs and How They Can Change

Tony Davila and Marc J. Epstein lay out a systematic approach for dealing with “creative destruction,” or disruptive innovation, via the “Startup Corporation,” a separate entity within a larger company used to spur revolutionary innovation. Although written for managers who wish to inspire their employees to create breakthrough innovations, the book has implications for investors as well. Read more

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Book Review: Advanced Equity Derivatives

Advanced Equity Derivatives: Volatility and Correlation

Sébastien Bossu reviews important concepts and recent developments in option pricing and modeling, including the latest generation of equity derivatives: volatility and correlation derivatives. Readers should have some familiarity with basic equity derivatives pricing and advanced mathematics because this book references the Black–Scholes model and other formulas for exotics. Read more

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Book Review: Asset Rotation

Asset Rotation

Although the author’s argument heralding the demise of modern portfolio theory (MPT) seems weak, he offers a compelling argument for active management. Using exchange-traded funds (ETFs) and asset rotation, he demonstrates how to achieve a return superior to that of a passively managed fund that relies on MPT and index funds. Asset Rotation may well be a harbinger of an “investment renaissance” and the end of passive management. Read more

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Book Review: Wall Street Research

Wall Street Research: Past, Present, and Future

The story of sell-side security analysis is still unfolding, but for an up-to-date account, this book serves the reader extremely well. The authors provide illuminating examples of recent innovations in the production and distribution of research and offer valuable insight by applying economic models in novel ways. Read more

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Book Review: The Stewardship of Wealth

The Stewardship of Wealth: Successful Private Wealth Management for Investors and Their Advisors

Gregory Curtis investigates the aspects of stewardship of the wealth of prosperous families, but the book is intended not only for wealthy investors and their advisors but also for family office executives, portfolio strategists, wealth relationship managers, and even less wealthy private investors. Read more

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Book Review: Strategic Value Investing

Strategic Value Investing: Practical Techniques of Leading Value Investors

This book provides a broad overview of value investing and detailed implementation guidelines for a wide variety of value-investing disciplines. The book focuses more on guiding readers in selecting and applying their own approach to value investing than on stories of how the “gurus” achieved success. Read more

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