Lessons from the legends of Wall Street PDF

Lessons from the legends of Wall Street PDF

Lessons from the legends of Wall Street PDF-  How Warren Buffett, Benjamin Graham, Phil Fisher, T. Rowe Price, and John Templeton Can Help You Grow Rich 

Category: Stock

Author: Nikki Ross

tag: Warren Buffett

Language: English

Free Download link: At the end of the post

Introduction- Lessons from the legends of Wall Street PDF

The five investors named in the subtitle of this book are undoubtedly among the most influential American investors of the 20th century: Graham and Fisher primarily as teachers, the other three for building large, successful investment companies. Ross summarizes their methods, then presents a composite version of their strategies. Is such a “greatest hits” compilation useful? After all, three of these investors have written their own books, and one could fill a small library with works by their interpreters and disciples. Many investment students will still find this book valuable as a starting point or as an accessible alternative to the originals. Ross packs a large fraction of each investor’s ideas into an average of 45 pages, including enough details and formulas to make the ideas usable, yet the book is still easy to read. Benjamin Graham, by contrast, can be tedious to read and Warren Buffett is fond of dropping aphorisms that sound indisputable but provide little useful guidance for real investment decisions. One advantage here is that each method is broken down into three systematic steps, making it easy to see the commonalities and departures of each system. Biographical information is also included, giving context to the teachings. Purists will justifiably complain that this approach does not adequately capture the essence of each investor, and some will argue that grasping this essence makes all the difference between serious, disciplined investing and dilettantism. But most readers will find at least some useful insights.

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For the first time, investors will discover how to apply the three vital investment steps for todays markets along with time-tested strategies for acquiring wealth and keeping it. Nikki Ross profiles five legends, revealing how they gather and evaluate information and make investment decisions.

Each chapter provides vital strategies for creating a sound investment plan.

*WARREN BUFFETT: the super-combination investor shares insights about how to profit from annual reports and what to look for in stock research reports. *PHIL FISHER: the investigative growth investor tells how to pick stocks with tremendous profit potential by evaluating management, products, and policies of companies. *BENJAMIN GRAHAM: the value numbers investor provides important financial numbers and ratios to evaluate companies. Grahams followers give expanded criteria for 21st century value investing. *T. ROWE PRICE: the visionary growth investor discusses how to evaluate the life stage of a company, warning signals of slowing growth, and trends affecting stocks, updated by disciples. *JOHN MARKS TEMPLETON: the spiritual global investor, and one of the first money managers to invest internationally, gives 16 timeless investment rules and strategies for global investing in todays volatile markets.

Table of Contents- Lessons from the legends of Wall Street PDF

Part I. Warren Buffett: The Super Combination Investor
1 Buffett’s Success Strategies: Building Real Wealth with Commonsense Investment Rules and Compound Returns 5
2 Buffett Applies the 3 Steps: Getting Insights from Annual Reports 12
3 Buffett Applies the 3 Steps (continued): Getting Insights from Stock Research Reports 20
4 GEICO Revisited 32
5 Applying Buffett’s Strategies for Different Types of Investors 38
6 The Ultimate Annual Meeting 40
7 The Life and Career of Warren Buffett 43

Part II. Benjamin Graham: The Value Numbers Investor
8 Graham’s Success Strategies: The Cornerstones of Investing 51
9 Graham and His Followers Apply the 3 Steps: Going Bargain Hunting for Undervalued Stocks 57
10 21st-Century Value Investing with John Spears and Mason Hawkins 74
11 Applying Graham’s Strategies for Different Types of Investors 82
12 The Life and Career of Benjamin Graham 84

Part III. Phil Fisher: The Investigative Growth Stock Investor
13 Fisher’s Success Strategies: Evaluating a Company’s People, Products, and Policies 93
14 Fisher Applies the 3 Steps: Getting the Scuttlebutt 95
15 Motorola Revisited 106
16 Applying Fisher’s Strategies for Different Investment Types 113
17 Thorns and Roses: Learning from Investment Mistakes 117
18 The Life and Career of Phil Fisher 119

Part IV. Thomas Rowe Price: The Visionary Growth Investor
19 Price’s Success Strategies: Think Like a Business Owner, but Be Aware That “Change Is the Investor’s Only Certainty” 129
20 Price Applies the 3 Steps: Examining the Growth and Life Cycles of Companies 132
21 Applying Price’s Strategies for Different Types of Investors 148
22 Current and Future Investment Trends: Technology, Health Care, and Financial Services 161
23 The Life and Career of Thomas Rowe Price 164

Part V. John Templeton: The Spiritual Global Investor
24 Templeton’s Success Strategies: Foresight, Patience, and the Contrarian View 177
25 Templeton Applies the 3 Steps: Worldwide Comparison Shopping for Stocks 180
26 Templeton’s 15 Commonsense Rules for Investment Success 187
27 The Evolution and Importance of Global Investing 194
28 Applying Templeton’s Strategies for Different Types of Investors 201
29 Templeton’s Positive View: The Future of Free Enterprise and the Stock Market 204
30 The Life and Career of John Templeton 208

Part VI. Creating Your Own Wealth Plan
31 How You Can Apply a Composite Version of the 3 Steps and Project Potential Investment Returns 213
32 How You Can Build and Preserve Real Wealth 226
Endnotes 251
Index 259

Reviews

“Nikki Ross has wisely simplified most of the commonsense policies used by famous investors for the best long-term results.”- John M. Templeton Founder, Templeton Mutual Funds The Templeton Foundation

“Nikki Ross has captured the spirit of our founder and provides valuable information for investors of stocks as well as mutual funds.” George A. Roche Chairman, T. Rowe Price Associates, Inc.

“Would you like to learn about investing and have fun too? With decades of Wall Street wisdom woven into this delightful book, I learned lessons, and relearned and remembered my way back to being a better investor. Thank you, Nikki, and thank you legends.”– Gail M. Dudack Chief U.S. Strategist and Managing Director, UBS Warburg LLC and Guest commentator, CNBC, PBSs Nightly Business Reports and CNNs Moneyline

“Nikki Ross tells how the great investors achieved success and provides a plan for investors to apply the information. This book is a must-read for NAIC members and belongs on the shelf of every investor.”– Thomas E. OHara Chairman of the Board of Trustees, National Association of Investors Corporation (NAIC)

“Provides unprecedented insights into the best financial minds of our time . . . must reading for all investors.”- Christopher L. Hayes, Ph.D. Founder and Director, National Center for Women & Retirement Research

“All investors can benefit from studying how others have made fortunes in the market, and Lessons from the Legends is an excellent way to discover the strategies of five of America’s best known stock market investors. Use this book to see how you can adapt the strategies of Graham, Buffett, Price, and the others to help your own portfolios. You will surely benefit from it.”- Stephen Sanborn Director of Research, Value Line Publishing, Inc.

“Over a 35 year career in equity investing, I have come across few books which I have found to be useful. This book is one of the few. It belongs on my very short list of recommended reading for any serious investor.”- Philip K. Swigard Berkshire Hathaway Shareholder and Private Investor

“If you want to understand literature, you study the great authors; music, the great composers. Why, then, do most investment courses ignore the great investors and instead preach the efficient market theory, which tells us no one can beat the market and ignore those who do? Thankfully, Nikki Ross’s Lessons from the Legends of Wall Street helps to right the score. You’ll find more practical advice in this one book than in a dozen academic investment texts.”- Don Phillips CEO, Morningstar, Inc.

“Well done! An excellent book for the investing public. The blend of biography and academic text is unique. It makes learning more fun.”- T. Wayne Whipple, CFA Executive Director, The New York Society of Security Analysts, Inc.

“Articulating lessons from the deans of the investment world, this wonderful how-to book is a remarkable resource for investors.”- Bernadette B. Murphy Chief Market Analyst, Kimelman & Baird LLC and Regular panelist on Wall $treet Week With Louis Rukeyser

“The markets always remind us of the necessity of wise investment counsel. The insights offered by the investment Dream Team put together by Nikki Ross are as timely as they are brilliant. The wisdom and insights of these five legends can help consultants, money managers, financial advisors, stockbrokers, and most importantly the investor, develop successful investment strategies. I thoroughly enjoyed reading this outstanding and informative book and recommend it to all types of investors.”- Michael T. Dieschbourg CIMA, Consulting Group, Salomon Smith Barney

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