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The Little Book of Value Investing

3.93  ·  Rating Details  ·  924 Ratings  ·  39 Reviews
In this stand-alone follow-up to The Little Book That Beats the Market, influential money manager Christopher H. Browne introduces readers to all the essentials of value investing, the most reliable and time-tested investment strategy. As in his previous book, Browne refuses to pad his text; this 200-page guide is a quick read that successfully delivers its lessons.
ebook, 208 pages
Published May 27th 2010 by Wiley (first published September 22nd 2006)
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(showing 1-30 of 1,805)
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Dan
May 01, 2007 Dan rated it liked it  ·  review of another edition
Recommends it for: Anyone interested in investing in stocks
I read this book today in a few hours. Very well-written. And very understandable. It's actually a more drawn out treatment of a study on Tweedy, Browne's website, called, "What Has Worked In Investing."

It's great, too, because it's peppered liberally with many historical examples from Chris Browne's long, successful career as an investor.

Every now and then, he lets something slip, like when he says you'd have avoided the 1929 crash using Ben Graham's principles. In reality, of course, Graham
...more
Joe
Jan 01, 2009 Joe rated it really liked it  ·  review of another edition
I am a big fan of value investing, because I am not smart enough to mess around with quants, momentum investing, and all that jazz. I like to know how good a company is (or isn't) and then invest in it (or not).

It is also fun to use value investing techniques to keep an eye on the company you work for. It's sometimes helpful to notice any contrasts between your company's fundamentals and what they are telling you in emails :).

So, needless to say, Browne is preaching to the choir with this book,
...more
Kay
Nov 24, 2007 Kay rated it really liked it  ·  review of another edition
If you're reading this, hope its just a review of what you know already. If not, hope this opens you up for further research/study. If neither, there is a high probability that you are not suited for this.
Scott Dinsmore
Why I Read this Book: With the intensity of today’s market, I wanted a quick recap of true value investing. This hit all the key points.

Review:

Whether you are a savvy investor or are just beginning, this is a great book to pick up. You reading this post shows me that you most likely have a keen interest in investing which leads me to believe you have been following the market lately. It’d be very hard not to given all that’s gone on. At times it seems like the market is falling apart. Many of yo
...more
Steve Bradshaw
Jan 29, 2011 Steve Bradshaw rated it really liked it  ·  review of another edition
Shelves: investment
This is a straight forward and concise book on how to pick safe long term value stocks. Browne includes a great number of personal anecdotes and rules of thumb that he's developed over the years that make for light interesting reading. A little too brief given the depth of the subject matter but a good first read in the area of value investing.

One significant disagreement I had with Browne is that one should stay fully invested in equities at every point in the cycle. This sounds to me like the
...more
John Barbour
Jul 11, 2013 John Barbour rated it really liked it  ·  review of another edition
Shelves: investment
The heart of this book is chapters 12-14. Chapter 12 is titled "Give the Company a Physical" and shows you how to examine the balance sheet. The important ratios here are:
1. The current ratio - Current assets over Current liabilities - look for a figure greater than 2
2. The quick ratio - same thing minus the inventory
3. Shareholder equity (book value)- Total assets (less intangibles) minus total liabilities
4. Debt to equity ratio - Total debt over Shareholders equity - look for numbers < 1 -
...more
Jacob
Jan 05, 2016 Jacob rated it really liked it  ·  review of another edition
This is a fairly good introduction to the approach of value investing, in terms of why you might want to pursue it as a strategy and how to do so. However, it does cover a lot of the same ground that other books on value investing address. To that extent there's not a lot of information you couldn't get from other sources.

What this book does have is the author's perspective on value investing, which becomes more pronounced (and thus more interesting) in later chapters. It also has a number of po
...more
Melissa Avery-Weir
I cracked open this book expecting a standard, high-level popular survey of investing, but found myself learning quite a few things, most notably a focused view of investing from a value perspective. When I was done with it, I handed it right over to my investing-uneducated fiance as a must-read.

Browne is overly inclined to name-drop and give anecdotal examples, but it does make the book more approachable. It helps compensate for the deliberately old-fashioned cover and type-face.

Even though I'
...more
Tristan
May 16, 2008 Tristan rated it really liked it  ·  review of another edition
This is a well-written and brief introduction to value investing. Browne points to the filings and numbers to look at, and provides anecdotes about the successes he has had by looking deep into a company's balance sheet. Even if you don't do the detailed research of a professional investor like Browne, the book is a crash course in determining whether you're really buying financially sound stocks that could reasonably outperform the market or getting caught up in the same whims and trends that d ...more
Alexis
Jun 10, 2014 Alexis rated it liked it  ·  review of another edition
Despite how brief this book is, I still felt like I was skimming through a lot of it. Value investors are understandably super gung-ho about their approach and at a certain point it turns into a soothing susurration. I get it, though, because his (and their) point is to really drill the temperament aspect into your head, which takes time. Anyway, it's his stuff about how to put things on the "no thank you pile" that I really liked plus there was some interesting stuff about how different choices ...more
Aditya
Mar 24, 2007 Aditya rated it really liked it  ·  review of another edition
As the title says, this is a really small book in dimensions and content. The author lays out the argument of why Value Investing is better than any other method of investing and gives reasonably good explanation of why. This would appeal to people who are just starting out in investing and want to know about various different techniques of investing. All you need is a basic understanding of how stock markets and this book does a good job of walking you through the process of selecting the right ...more
Intikhab
Sep 14, 2013 Intikhab rated it really liked it  ·  review of another edition
A helpful read in introducing to the tricky world of value investing. Browne has shared his thoughts based on his wealthy experience as a professional value investor for the benefits of his readers. This book leaves with greater interest and a desire to increase one's knowledge about the investment opportunities that stocks offer. He has substantiated his opinion with the help of examples from his prolonged career in the field of value investing.
Aparna
Dec 23, 2015 Aparna rated it really liked it  ·  review of another edition
Like it's Title, its a very small book about Value Investing. A summary of value investing. Dwells a little bit about screening the stocks and reading PL statement. Pretty concise. I would recommend this book to someone who is familiar with Value Investing and it's concepts and is looking for a framework. This book gives you a rough framework which you can build on if you are seriously planning to invest.
bookreader
Less a value investing primer than a folksy & affable compendium of investing vignettes from the lamentably departed Tweedy Browne chairman. With a gift for metaphor, Browne was perhaps at his wittiest and most sensible describing the difference between traditional money-manager interviews and the questions one should actually ask of people running your money. Thanks for a good read & RIP.
Andy Valen
It presents a good overview of value investing, but falls short in actually telling you something that you couldn't pick up in 20 minutes of searching the internet. Add to that, the fact that the great nuggets of info seem buried within and paragraphs that are buried within chapters and you get two stars.
Cherif
Aug 04, 2015 Cherif rated it really liked it  ·  review of another edition
What I took away from this book was that Value Investing is an Art that requires alot of patience and fortitude. There is no magic formula to determine the 'intrinsic value' of a company. Any criteria (be it P/E, net asset value,..., etc.) is going to have fuzzy edges and drawbacks.
M0rningstar
Some useful pointers, approachable explanation of general principles. Would have been improved by removing irrelevant details related to the author and his career, and replacing some examples that are impractical unless the reader already has a very high net worth or is part of a firm.
Joseph
Jan 21, 2013 Joseph rated it really liked it  ·  review of another edition
If you can devote your whole life to researching stocks and looking for edges then by all means you should read and follow this book. if you are investing for retirement you are far better off reading the elements of investing
Jeremy
This book was very approachable and I have a fair understanding of the value investing concepts. Now I just have to start playing with the numbers suggested to see if I can actually implement the concepts discussed.
Kent Say
Jan 03, 2016 Kent Say rated it liked it  ·  review of another edition
Shelves: financial
Useful historical backdrop on value investing which I did not have. Some useful thoughts on foreign accounting rules, and particular metrics.

Not very insightful on investing more broadly.
Charlie
Mar 14, 2009 Charlie rated it really liked it  ·  review of another edition
Really good introduction to value investing. Having said that I used the advice to make a couple of investments and I've lost 80% of my money. Probably my fault as opposed to the book's though.
Marshall
Aug 24, 2012 Marshall rated it it was ok  ·  review of another edition
Shelves: non-fiction, money
If you're looking for a concise overview of value investing in relatively plain English, this is a decent book. If you want details, examples, or thorough explanations, look elsewhere.
Ian C.r.n
Apr 16, 2014 Ian C.r.n rated it really liked it  ·  review of another edition
Just right. (Most of the vocab was easy enough but the concepts were sometimes a bit hard to understand.)
Recommended by my grandparent because it reflected a bit of my interest.
Sami Saleh
Sep 01, 2014 Sami Saleh rated it it was amazing  ·  review of another edition
This little book is a must read if you are a value investor. After Ben Graham'S Intelligent investor, this little boom stands out for it's simplicity and clarity.
Dino Dinarga
Jan 16, 2008 Dino Dinarga rated it really liked it  ·  review of another edition
Shelves: finance
Taught me a little bit more about value investing. It's a pretty good book to read if you want the first touch in value investing because the book is fast to read.
Milan
A good introduction to value investing. This book can be a starting point for learning for a lot of new investors who are entering the market.
Amit Arora
A neat and succint package with enough insights on value investing mindset, process and temperament required.
Tina
Aug 30, 2010 Tina rated it it was ok  ·  review of another edition
Shelves: financial, gave-up
Trying to get through...got a little bit dry near the end but good info on the theory of value investing.
Omnamaha
Mar 20, 2016 Omnamaha rated it really liked it  ·  review of another edition
very valuable and practical advice. need money to make the ideas work
Catherine
May 08, 2012 Catherine rated it really liked it  ·  review of another edition
Well written...not dry at all. Easy to understand. Hoping to apply.
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Christopher H. Browne was a famous value investor. He started his career at the firm Tweedy, Browne, a favourite brokerage firm among prominent value investors like Benjamin Graham and Warren Buffett. His success as an investor and shareholder, who held business management accountable, was renowned. For example, since their inception in 1993, both Tweedy, Browne's Value and Global Value Funds have ...more
More about Christopher H. Browne...

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“THE BEAUTY OF VALUE INVESTING is its logical simplicity. It is based on two principles: What’s it worth (intrinsic value), and don’t lose money (margin of safety).” 0 likes
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