This would be five stars if it weren't for the infomercial-like writing style. The information about calculating return on equity through clean surplus accounting is revelatory. It offers specific, actionable advice on how to select stocks, identify an acceptable purchase price and clearly identify sell points. If I were the editor, especially of a book about ROE, I would have cut 100 pages worth of fluff writing and reallocated that space to a further discussion of his fascinating-but-too-brief income-focused options trading strategy and a little more toward his portfolio insurance ideas. Even still, this book is a fantastic read for any active investor.
This was a frustrating read. I definitely learned something, and have come away with a better understanding of how to evaluate different companies, but there was so much repetition of the same ideas that the book just felt like it was dragging. There are also a number of chapters which felt like tangents, briefly covering topics like enhanced income or put options without really providing any explanation as to how they work.
He rambles on about Clean Surplus ROE so many times it is nauseating. It felt to me like he force-fitted Buffett and Berkshire Hathaway stock picking just to sell more books. I bought this used and plan on giving it back. I didn’t find anything particularly useful in it.
If you’ve read the great books on investing and/or Buffett already, give this a pass.
Repetitive texts that revolve around the same clean surplus ROE concept. He could probably halved the pages if needed. And similar to a lot of investment/trading books out there, the book is just a theory promotion, though some good info can be seen.
The writer could have been more brief. 100 pages or less would have been enough the deliver the idea of clean surplus accounting. Nonetheless, a decent read which encapsulates the overall idea of the strategy and will definitely benefit any investor in helping them make better investing decisions.