The Dhandho Investor

In this book, Pabrai distills the methods of Buffett, Graham, and Munger into a user-friendly approach applicable to individual investors.

Author: Mohnish Pabrai

Publisher: John Wiley & Sons

ISBN: 9781118044681

Category: Business & Economics

Page: 208

View: 958

A comprehensive value investing framework for the individual investor In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Readers will be introduced to important value investing concepts such as "Heads, I win! Tails, I don't lose that much!," "Few Bets, Big Bets, Infrequent Bets," Abhimanyu's dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks. Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy-to-use format. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals.


The Entrepreneurial Investor

The Entrepreneurial Investor is one of those rare books that come along once in a long while. I strongly recommend this book to anyone looking to become a better investor.

Author: Paul Orfalea

Publisher: Wiley

ISBN: 0470256621

Category: Business & Economics

Page: 208

View: 182

The Entrepreneurial Investor will inspire you to treat investing like a business and to think of yourself as an owner. Through solid examples and a light narrative, Paul Orfalea skillfully explores the essence of the entrepreneurial investor, which includes balancing the art and science of this discipline, and viewing investing itself as a business. Along the way, he also examines how the elements of focus, opportunism, and involvement can improve your overall investment results.

Behavioural Finance Second Edition

Starting with just eight investors, Pabrai Funds has (in 2007) about 400 families as ... The Dhandho framework of investing is based on nine principles. 1.

Author: Prasanna Chandra

Publisher: McGraw-Hill Education

ISBN: 9389811295

Category: Business & Economics

Page: 534

View: 213

The thoroughly revised 2nd edition of Behavioural Finance is designed as a textbook for students of MBA and CFA Programme. It will also serve a reference book for investment practitioners and corporate finance executives. The book discusses financial decision-making and financial markets from the perspective of behavioural sciences and allied disciplines. It expounds theories of behavioural finance and explores ways and means of injecting greater rationality in financial and investment decisions making. Salient Features: • An overview of Behavioural Finance • New and updated content in chapters 2-14 • A new mini case on Behavioural Biases and Asset Allocation • 16 new Appendices such as Expectations Investing Process, Left Brain, Right Stuff, and The Paradox of Choice

The Art of Execution

How the world's best investors get it wrong and still make millions Lee Freeman-Shor ... 10 The Dhandho Investor, by Mohnish Pabrai (2007).

Author: Lee Freeman-Shor

Publisher: Harriman House Limited

ISBN: 0857195026

Category: Business & Economics

Page: 208

View: 678

Over seven years, 45 of the world's top investors were given between $25 and $150m to invest by fund manager Lee Freeman-Shor. His instructions were simple. There was only one rule. They could only invest in their ten best ideas to make money. It seemed like a foolproof plan to make a lot of money. What could possibly go wrong? These were some of the greatest minds at work in the markets today - from top European hedge fund managers to Wall Street legends. But most of the investors' great ideas actually lost money. Shockingly, a toss of a coin would have been a better method of choosing whether or not to invest in a stock. Nevertheless, despite being wrong most of the time, many of these investors still ended up making a lot of money. How could they be wrong most of the time and still be profitable? The answer lay in their hidden habits of execution, which until now have only been guessed at from the outside world. This book lays bare those secret habits for the first time, explaining them with real-life data, case studies and stories taken from Freeman-Shor's unique position of managing these investors on a day-to-day basis. A riveting read for investors of every level, this book shows you exactly what to do and what not to do when your big idea is losing or winning - and demonstrates conclusively why the most important thing about investing is always the art of execution.

Value Investing And Behavioral Finance

Pabrai Mohnish; The Dhandho Investor: The Low-Risk ValueMethod to High Returns; Wiley (April 6, 2007). Rogers, Jim; Hot Commodities: How Anyone Can Invest ...

Author: by Parag Parikh

Publisher: Tata McGraw-Hill Education

ISBN: 0070077630

Category:

Page: 325

View: 480

Smart and successful way of investing calls for a thorough understanding of behavioral finance not just market sentiments, crowd behavior or company performance. This book studies investing and behavioral trends in Indian capital markets, and shows the follies of collective behavioral biases and their impact on investor decisions and returns.

Great Investment Ideas

The Dhandho Investor. Phelps, E. S. (1962). The accumulation of risky capital: A sequential utility analysis. Econometrica, 30, 729–743.

Author: William T Ziemba

Publisher: World Scientific Publishing Company

ISBN: 9813144386

Category: Electronic books

Page: 296

View: 540

Great Investment Ideas is a collection of articles published in the Journal of Portfolio Management from 1993 to 2015. The book contains useful ideas for investment management and trading and discusses the methods, results and evaluation of great investors. It also covers important topics such as the effect of errors in means, variances and co-variances in portfolio selection problems, stock market crashes and stock market anomalies, portfolio theory and practice, evaluation theory, etc. This book is a must-have publication for investors and financial experts, researchers and graduate students in finance.


The Kelly Capital Growth Investment Criterion

The Dhandho Investor. New York: Wiley. Poundstone, \/V. (2005). Fortune 's Formula. US: Hill and Wang. Taleb, N. N. (2007). The Black Swan: The Impact of ...

Author: Leonard C. MacLean

Publisher: World Scientific

ISBN: 9814293490

Category: Business & Economics

Page: 853

View: 353

This volume provides the definitive treatment of fortune's formula or the Kelly capital growth criterion as it is often called. The strategy is to maximize long run wealth of the investor by maximizing the period by period expected utility of wealth with a logarithmic utility function. Mathematical theorems show that only the log utility function maximizes asymptotic long run wealth and minimizes the expected time to arbitrary large goals. In general, the strategy is risky in the short term but as the number of bets increase, the Kelly bettor's wealth tends to be much larger than those with essentially different strategies. So most of the time, the Kelly bettor will have much more wealth than these other bettors but the Kelly strategy can lead to considerable losses a small percent of the time. There are ways to reduce this risk at the cost of lower expected final wealth using fractional Kelly strategies that blend the Kelly suggested wager with cash. The various classic reprinted papers and the new ones written specifically for this volume cover various aspects of the theory and practice of dynamic investing. Good and bad properties are discussed, as are fixed-mix and volatility induced growth strategies. The relationships with utility theory and the use of these ideas by great investors are featured.

Secrets of Swiss Banking

... Hedge Funds, and the Risk ofFinancial Innovation by Richard Bookstaber The Dhandho Investor: The Low Risk Value Method to High Returns by Mohnish Pabrai ...

Author: Hoyt Barber

Publisher: John Wiley & Sons

ISBN: 9780470257975

Category: Business & Economics

Page: 288

View: 451

In Secrets of Swiss Banking, offshore financial specialist Hoyt Barber shows how to protect your hard-earned assets by safely and legally moving your money into trusted Swiss financial institutions. Along with timely banking advice and solid investment insights, Barber provides authoritative information on a variety of Swiss banking-related issues—from the basics of opening an account to the nuances of numerous Swiss banking and investment strategies. He also details Swiss banking policies and regulations along with U.S. tax and reporting requirements.

Wisdom of Wealth

... Valley Boy by Tom Perkins Education Of A Value Investor By Guy Spier The Richest Man In Babylon By George Clason The Dhandho Investor By Mohnish Pobrai ...

Author: Poornesh K.K.

Publisher: Notion Press

ISBN: 164760771X

Category: Business & Economics

Page: 604

View: 217

The study of wealth is so fascinating. Having wealth is a dream for every human being. By pursuing different professions, we all chase wealth. These quotes contain a wealth of wisdom in a single line. These are timeless and immeasurable treasures of wisdom. Wealth is the product of man’s capacity to think. – Ayn Rand Markets always climb the wall of worry. – Rakesh Jhunjhunwala Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves. – Norm Franz Money: whether you have it or not, whether you want it or not, whether you like it or not, it will define your days. – Phil Knight Nine-tenth of wisdom consists in being wise in time. – Theodore Roosevelt Whenever you find yourself on the side of the majority, it’s time to pause and reflect. – Mark Twain Traditional wisdom is long on tradition and short on wisdom. – Warren Buffett Never mistake motion for action. – Earnest Hemmingway

Stochastic Optimization Methods in Finance and Energy

Growth versus security in dynamic investment analysis. Management Science 38, 1562–1585. ... The Dhandho Investor. Wiley, Hoboken, NJ.

Author: Marida Bertocchi

Publisher: Springer Science & Business Media

ISBN: 9781441995865

Category: Business & Economics

Page: 476

View: 506

This volume presents a collection of contributions dedicated to applied problems in the financial and energy sectors that have been formulated and solved in a stochastic optimization framework. The invited authors represent a group of scientists and practitioners, who cooperated in recent years to facilitate the growing penetration of stochastic programming techniques in real-world applications, inducing a significant advance over a large spectrum of complex decision problems. After the recent widespread liberalization of the energy sector in Europe and the unprecedented growth of energy prices in international commodity markets, we have witnessed a significant convergence of strategic decision problems in the energy and financial sectors. This has often resulted in common open issues and has induced a remarkable effort by the industrial and scientific communities to facilitate the adoption of advanced analytical and decision tools. The main concerns of the financial community over the last decade have suddenly penetrated the energy sector inducing a remarkable scientific and practical effort to address previously unforeseeable management problems. Stochastic Optimization Methods in Finance and Energy: New Financial Products and Energy Markets Strategies aims to include in a unified framework for the first time an extensive set of contributions related to real-world applied problems in finance and energy, leading to a common methodological approach and in many cases having similar underlying economic and financial implications. Part 1 of the book presents 6 chapters related to financial applications; Part 2 presents 7 chapters on energy applications; and Part 3 presents 5 chapters devoted to specific theoretical and computational issues.

Kiplinger s Personal Finance

This was undoubtedly true, but investing always involves uncertainty. ... manager Mohnish Pabrai writes in his book, The Dhandho Investor: “Heads, I win; ...

Author:

Publisher:

ISBN:

Category:

Page: 88

View: 870

The most trustworthy source of information available today on savings and investments, taxes, money management, home ownership and many other personal finance topics.

The Joys of Compounding

(For the former, refer to Rudyard Kipling's poem “If” in appendix B.) Mohnish Pabrai's book The Dhandho Investor is one of the more accessible books written ...

Author: Gautam Baid

Publisher: Columbia University Press

ISBN: 0231552114

Category: Business & Economics

Page: 438

View: 213

Value investing is not just a system for success in the market. It is also an intellectual toolkit for achieving a deeper understanding of the world. In The Joys of Compounding, the value investor Gautam Baid builds a holistic approach to value investing and philosophy from his wide-ranging reading, combining practical approaches, self-cultivation, and business wisdom. Distilling investment and life lessons into a comprehensive guide, Baid integrates the strategies and wisdom of preeminent figures whose teachings have stood the test of time. Drawing on the work of investing greats like Warren Buffett, Charlie Munger, and Ben Graham, as well as philosophers and scholars, he artfully interweaves the lessons learned from his many teachers. Baid demonstrates their practical applications in the areas of business, investing, and decision making and also shows that these ideas can be applied to one’s own life with just as much reward. A celebration of the value investing discipline, this book also recounts Baid’s personal experiences, testifying to his belief that the best investment you can make is an investment in yourself. The Joys of Compounding offers curated reflections on life and learning for all investors, investment enthusiasts, and readers seeking a dose of practical wisdom. This revised and updated edition highlights Baid’s distinctive voice.

Why Symmetry Runs The Positive Circular Economy

Guy Spier (The Education of a Value Investor, 2014, p.131) “Einstein also ... “ Mohnish Pabrai (The Dhandho Investor, 2007, p.57) “I have also gotten ...

Author: George Hohbach

Publisher: BoD – Books on Demand

ISBN: 375345561X

Category: Business & Economics

Page: 256

View: 855

EXPANDED 3rd EDITION: Largely unnoticed by the general public, four intellectual giants of the 20th century, Kabbalist Rav Yehuda Ashlag, mathematical physicist Albert Einstein, mathematician Emmy Noether and the pioneering value investor Benjamin Graham, revealed the central role of symmetry in what we call reality. The most symmetric form is the Circle. Nature largely builds its diversity and abundance on circular motions and cycles. Yet, our linear economic model does not respect the central role of symmetry (balance, harmony, unity), and consequently disregards the holistic benefits of Nature’s positive circular motions. The book details how Nature, the cosmos, universally communicates in the super simple language of symmetry. It examines how Rav Ashlag, Einstein, Noether and Graham along with other scholars from around the globe, unveiled that symmetry is the creative principle which can build a prosperous future for Man, Artificial Intelligence and Nature together, via a symmetric, positive, eco-intelligent and climate-smart Circular Economy.

Wall Street Dos and Don ts

The Intelligent Investor Revised Edition By Benjamin Graham Updated by ... The Market Updated By Greenblatt The Dhandho Investor By Pabrai Baruch My Own ...

Author: Mr. Market

Publisher: Booktango

ISBN: 1468965905

Category: Business & Economics

Page:

View: 745

This book will teach the reader what to do and what not to do in the stock market so that he or she can succeed in making lots of money.

The Option Trader s Hedge Fund

... Schwartz The Dhandho Investor, by Mohnish Prabai Trend Following, by Michael W. Covel The Intelligent Investor: The Definitive Book on Value Investing, ...

Author: Dennis Anthony Chen

Publisher: FT Press

ISBN: 0132823403

Category: Business & Economics

Page: 219

View: 398

In this book, a hedge fund manager and an option trading coach show you how to earn steady, reliable option income trading options by managing your trades and running your option portfolio as a real business following the fundamental principles of an insurance company. Mark Sebastian (TheStreet.com, OptionPit.com) and hedge fund manager Dennis Chen (Smart Income Partners, Ltd.) explain why this particular business model offers such an attractive practical model for individual traders, and teaches the specific how tos you need to create and operate your personal option income portfolio this way. Sebastian and Chen begin by introducing their exclusive business model framework, identifying the option concepts most critical to long-term trading success, and presenting core income strategies based on selling rather than purchasing options. Next, they walk you through setting up your business, offering a complete operations manual addressing each practical issue you'll face. The authors teach key lessons they've learned from their own experience - including how to maintain trading discipline, manage volatility and risk, account for the other Greeks, and handle payments. Packed with real-world examples, this book reveals how professional money managers and hedge funds really manage their option trading operations - and guides you step-by-step through setting up your portfolio and running your trades to earn the same high levels of income.

Charlie Munger

The Dhandho Investor. New York: Wiley, 2007. Paladinvest. “Wesco Meeting.” The Motley Fool, May 7, 2000. http://boards.fool. com/wesco-meeting-12529248.aspx ...

Author: Tren Griffin

Publisher: Columbia University Press

ISBN: 0231540418

Category: Business & Economics

Page: 224

View: 480

Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same. His notion of "elementary, worldly wisdom"—a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management—allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment. Munger's system has steered his investments for forty years and has guided generations of successful investors. This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.

You Say Tomayto

Contrarian Investing in Bitesize Pieces Alastair Mundy ... for a number ofyears,thus encouraging Pabraitoshare his secretsin his book The Dhandho Investor.

Author: Alastair Mundy

Publisher: Harriman House Limited

ISBN: 0857192744

Category: Business & Economics

Page: 210

View: 893

Although many people consider bloody-mindedness and stubbornness as being perfect qualifications for a contrarian investor, the approach is in fact a little different than that. Yes, it requires one to act against the crowd. However, it is futile to do so without good reason. A naïve contrarian investor pops into a pub looking for a fight and is delighted if his first opponent is Lennox Lewis. A more seasoned contrarian looks to fight only little old ladies. But looking for the right opponent in a local pub is far from straightforward - little old ladies can sometimes be veteran jujitsu champions - and detecting the easier battles in the stock market is similarly challenging. At first blush, many stocks are attractive and other appealing stocks may initially look like dogs. There is no trustworthy shortcut to separate the dogs from the delightful. The long cut is the implementation of much hard work. Hard work as in understanding a company's business model, why other investors hate it, what positive factors they might have missed, how its balance sheet and cash flow interact, and whether its valuation is sufficiently attractive. None of that is rocket science perhaps, but that does not make it easy. The bull arguments are often well hidden and can only be discovered through meticulous work, a sceptical mindset, and deep thought. In this collection of his writings, top fund manager Alastair Mundy takes a contrarian look at a host of topics and issues, providing a range of ideas and approaches and encouraging investors to think hard about their approach to investment. This book should be essential reading for any investor - contrarian or otherwise.

Kiplinger s Personal Finance

This was undoubtedly true, but investing always involves uncertainty. ... writes in his book, The Dhandho Investor: "Heads, I win; tails, I don't lose much.

Author:

Publisher:

ISBN:

Category:

Page: 88

View: 141

The most trustworthy source of information available today on savings and investments, taxes, money management, home ownership and many other personal finance topics.