![]() Isn’t the main aim of any investment is to get the maximum returns with minimizing risks? Moreover, Pabrai’s idea to invest in businesses with low risk and high returns makes perfect sense. He is the Managing Director of Pabrai Investment funds, an investment fund based on a similar model to that of Warren Buffett’s Partnerships in the 1950s. Since its inception in 1999, this investment fund has given an annualized return of over 28% and hence has consistently beaten the S&P 500 Index. The author of this book, Mohnish Pabrai is an Indian-American Investor, businessman, and Philanthropist. The book is based on the central concept of “Heads I win, tails I don’t lose much” i.e. ![]() This is one of the most simple yet influential books that I’ve ever read. The concept of Dhandho Investing changed the way I look at investing. The Little Book That Beats the Market by Joel Greenblatt The fact that Benjamin Graham survived the great depression ( where dow fell nearly 90% in a stretched period of three years ), itself adds credibility to his investing knowledge and experience. ![]() The first edition of this book was published in 1934, shortly after the Wall Street Crash and the start of the Great Depression in the US. Quick Note: Benjamin Graham has also authored another book named Security Analysis, which is also a best-seller. You can read the complete book review of The intelligent investor here. If you want to build a strong value investing foundation, I’ll highly recommend you to read this book. Overall, this is definitely one of the best value investing books and for serious investors- this is a must-read. Many people consider this book as the bible of value investing. This book contains a number of time-tested lessons like investment vs speculation, the margin of safety, the concept of Mr market (the fictional manic-depressive character), different approaches for defensive and enterprise (aggressive) investors etc. Warren Buffett inherited the principles of value investing from Benjamin Graham, which later helped him to build a great fortune and becoming one of the most successful stock market investors of all time. After graduation, Graham hired Warren Buffett to work (and learn) in his investing firm. ![]()
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