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Investment Gurus

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Investment Gurus

A Road Map to Wealth from the World's Best Money Managers

FT Prentice Hall,

15 мин на чтение
10 основных идей
Аудио и текст

Что внутри?

Four hundred pages of investment information straight from the mouths of some very important horses.

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Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Peter Tanous features interviews with 18 individuals he identifies as top, common stock investment consultants - or "gurus." His choices are based on his work as a consultant identifying investment advisers for corporations. The consultants he selected for this book represent the major stock investing approaches as growth, value or momentum investors. The interview format lets them speak for themselves. He briefly introduces the book with a primer on basic investment terms and principles, and a summary of major themes. getAbstract finds the range of views shown very helpful, but notes that the book suffers from overwriting and a lack of focus and editing. Some tightening would help highlight the main points in the long interviews. The introduction and conclusion are long and general, and a clearer, more detailed summary would be very welcome. Yet, the book offers a lot of information for the average serious investor, much of it straight from the mouths of some very important horses.

Summary

The Major Types of Investment Advisors

Common stocks are the best investment over time. Since the early 1920s, they have performed better than any other type of asset. But with stocks, or any other investment choice, weigh risk relative to return. Nobel prize-winning investment guru, Professor William Sharpe, has developed the "Sharpe ratio," which measures how much extra return you gain based on the risk you are willing to take. The higher the number, the more return you are getting for the risk you are taking - no matter how high or low that risk is.

The Basic Types of Investing

When you select an investment manager, first decide on the best investment approach for you. However, look beyond the manager’s investment approach and average annual return, because that could conceal volatility. Look at how returns translate into real dollars and real earnings. Select a manager with a consistent record over time.

Be aware of the important distinction between active and passive investing. If you are an active investor, you pick stocks because you think they will perform well. Active managers seek to beat the market, either by greater returns or less risk. ...

About the Author

Peter J. Tanous , a Washington, D.C., registered investment advisor, is President of Lynx Investment Advisory, Inc. He provides consulting services to institutions and individuals on how to select and monitor a money manager. Before founding Lynx, Tanous was Executive Vice President and a director of Bank Audi (USA) in New York City.

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