More reviews
Outsmarting the Crowd (2015) is a stellar beginner’s guide to investing. These blinks will give you all the knowledge you need to get started investing. Just don’t expect to get rich overnight: good investing is all about patience, discipline and rationality.
Elvisa M.
It pushes you in the right direction. This is a book full of great and inspiring ideas. I actualy registered with one of the popular trade websites and had no idea what I was doing. Now I have some insight on how to think about the stock market. I listened to friends and family and lost more than I had gained. Now I have a new perspective on how to make money with my money. Thank you!
Jared
Great read! I read this over the holidays and starting out a New Year reading this book was a great idea. It is an easy, un-daunting read, outlines a call to action if you are interested in building wealth (and why wouldn't you be?), and helps eliminate the typical "fears" that keep people out of the markets. We all know that the first step is probably the hardest to take, and this book shows us really how easy it can be. I enjoyed the philosophy as well as the research and real life learning that created this book.
Rick Lance
I have lost count of the investing books that I have read. Of all the books that I have read on investing this one is the best. The author has done his homework in the area of value investing. He does not have some magic formula or a complicated set of guidelines that would take a masters in finance to figure out. What he does have is clear and simple common sense instructions on how to invest for the long haul and keep your emotions in check. He has followed the best in the business and gives credit where it is due.
For me this was the book that switched on the light bulb and gave me the "aha moment". I suddenly knew where to put my money and leave it alone. Wish he had written this 25 years ago; it would have save me a lot of stress, misdirection and costly mistakes.
Amirshayan
This new book by Bogumil is a wonderful book to read, especially for people new to value investing. The author works at a tier one value investing fund in NYC. One of the great benefits of the book is the references to all the other excellent books that the author has read over time and references. This is a great book to teach young people how to save money (financial literacy) as well as more high level on value investing. It is pretty similar to Guy Spier book since it has much more to do with philosophy of value investing and living wisely. I personally will recommend this book to all my mentees in college about to start their careers in buy-side and sell-side alike.
Ken
I read this book as an "Intermediate Personal Investor" - at least that is how I like to think of myself. I've done some things right - and I think I could do better at some others. What I loved about this book is that it helped me to see personal investing in terms of my own Philosophy, Path, and Principles (Bogumil's words) - and gave me some measure by which I could break them down and tell which were supporting me and which needed improvement. I found this book inspirational enough that I am actually following through with my own list of "Improvements". This is a book that I wish I would have read earlier in my "investment Education" - and will read again (and again) from time to time as I continue to grow. As an added bonus, the "Suggested Reading" that Bogumil provides in an appendix is a wonderful assortment of books from financial and other disciplines and is worth the purchase price all by itself. I have added many of them to my own personal reading list. Enjoy!
RZ
If you have been looking for a good primer on Value Investing - this book answers the mail.
The book is broken down by the authors “Three Pillars” of Value Investing:
PHILOSOPHY – how to think differently; be patient; and embrace failure
PATH – how to learn; simplify and focus; and earn, save, and invest
PRINCIPLES - stocks are businesses; moody Mr. Market; and Margin of Safety
The thing I liked most about this book - is that it has made me rethink my holding periods for individual stocks. I really appreciate any book that forces a review of my core investing processes - backed up by logic and good examples.
I don't agree with the author's view that Options should be avoided - especially when you want to buy Stocks via cash secured puts - but I take his point, most novices should keep it simple.
Highly recommended.
Outsmarting the Crowd: A Value Investor's Guide to Starting, Building, and Keeping a Family Fortune by Bogumil K. Baranowski is a non-fiction book that states that normal individuals are wired to fail when it comes to money and investment choices. The author sets forth a group of "rules" he has assembled over the last ten years from the world's most successful investors. Himself an experienced investor, he believes these rules, set forth in the book, are a great road map or guide for young or inexperienced investors that covers the most common investing mistakes. It is an easy to read, easy to understand book that makes it so unique compared to other books written about financial topics. The book has many personal stories from the author about his experiences, but also brings the reader into the pages by asking questions and giving small tasks and examples for the reader to focus on and think about, especially when it comes to money and investing in the reader's personal life.
While many other books covering this topic can be confusing, or can misinform, intimidate, or do not draw from real, personal experience, that is not the case in this book. That's what makes this book so unique and one of a kind. The writing is very straightforward, comprehensive, and easy to follow, especially for readers who might not be the most well versed when it comes to complicated investment or financial terms. It covers the emotional aspect of investing, which is a very interesting concept and one that most readers probably are not familiar with from other books.