Investing, Reviews, John, Neff
John Neff on Investing





Praise for JOHN NEFF on investing

"This book offers important insights into the methods and long-term rewards of ‘value’ investing. The serious investor will not want to miss this clear exposition of the successful Neff technique."â€"BURTON G. MALKIEL, Author of A Random Walk Down Wall Street

"A must read for anyone who is serious about investing."â€"JOHN REED, Chairman and Co-CEO, Citigroup Inc.

During his thirty-one years as portfolio manager of Vanguard’s Windsor and Gemini Funds, John Neff beat the market twenty-two times while posting a fifty-seven-fold increase in an initial stakeâ€"making Windsor the largest mutual fund in the United States in the process.

Now, the "investor’s investor" is ready to share the strategies that earned him international recognition. He delineates, for the first time, the principles of his phenomenally successful low p/e approach to investing, and describes the strategies, techniques, and decisions that earned him a place alongside Warren Buffett and Peter Lynch in the pantheon of modern investment wizards. Packed with advice, guidance, and invaluable lessons in investing, John Neff on Investing reveals for the first time the long-heralded investment strategies of a Wall Street genius.In the investment-management business, it's best to take bows quickly. Unless, of course, you're John Neff, a living legend, who as manager of Vanguard's Windsor Fund beat the market in 22 out of 31 years. Neff grew Windsor to become the largest mutual fund by combing the bargain basement for quality merchandise and selling as other investors caught on. In John Neff on Investing, he explains how he scoured the daily list of stocks hitting new lows, the "dusty rag and bone shop of the market," to find out-of-favor companies with low price/earnings ratios, those growing faster than seven percent a year, that paid generous dividends. He shows how to distinguish misunderstood and overlooked stocks from those with lackluster prospects.

Shunning the terms value investor and contrarian, he tells us he prefers to be known simply as a "low-p/e investor." "Contrarian investor suggests a stubborn nature," he says, "and there's a thin line between contrarian and being just plain stubborn." Memory in the stock market is notoriously short. "Remember the lessons of the past as they tend to repeat themselves," Neff says. "You cannot become a captive of historical parallel, but you must be a student of history." He takes us back to the early '70s, the "silly season" he calls it, "when investors emphasized a handful of glamour stocks at the expense of the market.... Hypnotized by rising market levels, investors lost sight of fundamentals ... and a dazed and confused public became persuaded that investing is easy." The toughest investment decision is the decision to sell. "Successful stocks don't tell you when to sell," says Neff. "When you feel like bragging, it's probably time to sell." He quotes a French proverb: "Buy on the cannons, sell on the trumpets."

John Neff on Investing begins with an insightful autobiographical sketch, but the marrow of this book is the journey through Neff's investment diary while managing Windsor. He takes us through three turbulent decades and dissects in detail his investment successes and failures. Relying on relentless application of his low-p/e strategy, abetted by attention to fundamentals and a liberal dose of common sense, he repeatedly rode stocks from under- to fair valuation, most often leaving the overvaluation thrill ride to braver souls.

Neff explains his concept of Measured Participation, a sort of asset-allocation strategy for low-p/e investing, and he shows that while difficult in today's high valuation market, constructing a portfolio guided by his methodology is still possible. Anyone with an interest in investing will enjoy learning at the feet of this master. --Scott Harrison









List Price: $ 27.50



Price: $ 18.74

Other posts like this, by keyword:

Investing:

Guide Investing Mutual Funds (Money Smarts/David Logan Scott) ...
Q&A: Can anyone recommend a good website to teach me the basics of investing my 401K? ...
Stop Buying Mutual Funds: Easy Ways to Beat the Pros Investing On Your Own Reviews ...
Investment Strategies for Agriculture and Natural Resources: Investing in Knowledge for Development Reviews ...
Ludwig II 1 (v. 1) ...
Pocket Companion to On-Line Investing ...
How to Make Too Much Money: Your Guide to Investing Wisely ...
More Than L.I.P. Service: A Lifetime Investing Plan ...
Sunday Driver: The Writer Meets the Road–at 175 MPH ...
Blue Sheep Reverie Volume 2 (Yaoi) ...
Reviews:

HOBBY, GLADYS LOUNSBURY (1910-1993): An entry from Gale’s World of Microbiology and Immunology Reviews ...
The 2009 Import and Export Market for Iron or Steel Nails, Tacks, and Staples Excluding Staples in Strips for Office Use and Articles with C ...
Making Creativity Accountable: How Successful Advertisers Manage Their Television and Print Reviews ...
Introduction to Laser Diode-Pumped Solid State Lasers (SPIE Tutorial Texts in Optical Engineering Vol. TT53) Reviews ...
The Art Of Date Selection : Personal Date Selection For Personal Activities and Endeavours Reviews ...
Family-Style Meals at the Hali’imaile General Store Reviews ...
Naturally Curious: A Photographic Field Guide and Month-by-Month Journey Through the Fields, Woods, and Marshes of New England Reviews ...
The TOON Treasury of Classic Children’s Comics Reviews ...
Angels Dance And Angels Die: The Tragic Romance of Pamela and Jim Morrison Reviews ...
Joan of Arc and Spirituality (New Middle Ages) Reviews ...
John:

Catholicism without Popery. An essay to render the Church of England a means and a pattern of union to the Christian world. … In two p ...
John (N. T. Wright for Everyone Bible Study Guides) ...
John Henry Smith, humorous romance of outdoor life ...
John T McGreevy. Catholicism and American Freedom: a History.(Book Review): An article from: Journal of the Australian Catholic Historical S ...
Full of Life: A Biography of John Fante Reviews ...
Science, Strategy and War: The Strategic Theory of John Boyd (Strategy and History) Reviews ...
The Enormous Radio Written by John Cheever (MP3 Audio Download) Reviews ...
Cowboy Up: John Smith Leads the Legendary Oklahoma State Wrestlers to Their Greatest Season Ever ...
Memoirs of a great detective: incidents in the life of John Wilson Murray ...
The Personal World: John Macmurray on Self and Society ...
Neff: