The Education of a Value Investor

Name of the Book: - The Education of a Value  Investor

Author: - Guy Spier

No of Chapters: -13

Number of Pages: - 209

About the Author: - Guy Spier is one of the famous value investors who has run the Aquamarine fund for seventeen years with an impressive record of market beating returns.

One line Description of the book:-  Create your ecosystem without noise

What this book is about: - Book is a journey of author from an oxford graduate followed by not so impressive career stint at D.H. Blair, starting his fund, handling the financial crisis,  having charity lunch with Warren  Buffet and learning from his mistakes. The one thing that makes the book compelling to read is the honesty with which author expresses his thoughts about value investing  and challenges involved in it. It is also a journey of transformation of an ambitious young professional to a thoughtful and mature. Author explains how the world of elite education of big universities is entire different from real life investing scenario. Author has explained how human behaviour and psychology plays an important role in investing by citing the example of only book that is recommended by Charlie Munger is “ Influence: The psychology of persuasion”.

Author is highly influenced by Mohnish Pabrai, an Indo-American investor who believes in learning new things and ardent believer of art of giving. Author has learned the importance of checklists from the Atul Gawande( Author of book:- Checklist Manifesto) and inculculated the same in his investing style. Book also provide detailed description of charity lunch of author and Mohnish Pabrai with Warren Buffet on 25^th June 2008. Taking a cue from Warren Buffet, Author has created his own world of Omaha by shifting to Zurich with least distraction from constant noise of Wall street.

Rules of Author for Value investing

1. Stop checking the stock prices frequently
2. If someone tries to sell you something, Don’t buy it
3. Don’t talk to Management as it may create positive bias towards company
4. Gather investment research in the right order
5. Discuss Your investment ideas only with people who have no Axe to Grind
6. Never Buy or sell stocks when the market is open
7. If a stock Tumbles after you Buy it, Don’t sell it for two years
8. Don’t talk about your current investments

Conclusion:- Overall, Book is an engaging and informative read that appeals to anyone interested in investing or personal development. Whether you are a seasoned investor or just starting out, the  book is worth your time

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