Goodreads helps you keep track of books you want to read.
Start by marking “Contrarian Investment Strategies: The Classic Edition” as Want to Read:
Contrarian Investment Strategies: The Classic Edition
Enlarge cover
Rate this book
Clear rating
Open Preview

Contrarian Investment Strategies: The Classic Edition

3.95  ·  Rating details ·  523 ratings  ·  19 reviews
David Dreman's name is synonymous with the term "contrarian investing," and his contrarian strategies have been proven winners year after year. His techniques have spawned countless imitators, most of whom pay lip service to the buzzword "contrarian," but few can match his performance. His Kemper-Dreman High Return Fund has been the leader since its inception in 1988 -- th ...more
Hardcover, 464 pages
Published May 18th 1998 by Free Press (first published January 12th 1980)
More Details... Edit Details

Friend Reviews

To see what your friends thought of this book, please sign up.

Reader Q&A

To ask other readers questions about Contrarian Investment Strategies, please sign up.

Be the first to ask a question about Contrarian Investment Strategies

Community Reviews

Showing 1-30
3.95  · 
Rating details
 ·  523 ratings  ·  19 reviews


More filters
 | 
Sort order
Yang Ming Wen
Jul 25, 2011 rated it really liked it
David Dreman's Contrarian Investment Strategy should occupy the 3rd place in the Hall of Investment Classics, which puts it only after Graham's Intelligent Investor and Fisher's Common Stocks and Uncommon Profits. The most important value of this book is Dreman's commitment into the treacherous water of "market irrationality", which both Graham and Fisher recognized, but neither made serious attempts to explain. "Rational market", as the basic assumption the Efficient Market Hypothesis (EMH), is ...more
Steve Bradshaw
Nov 30, 2011 rated it it was amazing
Shelves: investment
Dremen's name is eponymous with successful contrarian investing and this book methodically shows why (along with the impressive records of the Kemper-Dremen funds). A modern Ben Graham, Dremen is driven by fundamentals and underlying data, an approach that oddly marks him as a contrarian investor in today's emotion-driven markets.

Contrarian Investment Strategies provides a clear synthesis of the research that backs value investing. It also packs a good dose of simple executable advice - in essen
...more
Steve
May 20, 2013 rated it really liked it  ·  review of another edition
Shelves: investing
Dreman makes a good case for Low P/E, P/B, P/CF and high Yield stocks, urging buying lowest quintile stocks in each.
This 2012 update is useful because he spends time discussing the current economic conditions and offering some strategies.
Basically he states to stay away from bonds and use stocks and real estate for the inflation he expects. Not a fan of the Goldman Sachs crowd. That alone earns kudos from me.
Tirath
Sep 24, 2014 rated it liked it
It's a good book for newbies in the investment world or for people who are disillusioned with growth investing prospects or for retail/ passive/ hobby investors.
I expected much more from the book but it kept going on and on about low P/E, low P/BV, low P/Cash flow strategies and how they make more sense than growth investing. And then it went on about the recent 2008-09, etc crisis. It's a decent book for the library - not much else.
Russ
Aug 04, 2018 rated it really liked it  ·  review of another edition
Read the original if you can. Written in 1978, it is remarkable how much history repeats itself. Here was another era of hatred towards corporations and volatile stock markets. There were manias and panics, include tech stock manias, in the 60s and 70s. The only difference in the 70s was the runaway inflation.

Dreman lays out a straightforward plan for making money in the stock market over a long term horizon with less risk. He debunks fad systems and even fundamental analysis. He is even handed
...more
Hahn Lin
May 18, 2018 rated it really liked it
4.5 stars. Part 2 is a must read where Dreman rips efficient markets hypothesis to shreds by poring over the original research and running new studies. He presents a new paradigm for investing based on cognitive biases, which result in predictable errors and reactions. He spends much of the book advocating for value stocks (low P/E, P/CF, P/B) and presents a number of compelling studies. The book concludes with a warning about high frequency trading, a description of the GFC, an overview of the ...more
Yushi Wei
Jul 21, 2017 rated it it was amazing
Very very good book! Despite it being written almost 20 years ago, the strategies outlined here are still applicable. Remember to think for yourself and do not follow the crowd!
Alessandro Orlandi
May 17, 2019 rated it really liked it
Shelves: investors
Very good book, very interesting and plenty of good ideas. The only thing I didn't like was the excessive rumble about Efficient Market theory, I'm already convinced it doesn't work!
Justin
Apr 09, 2018 rated it really liked it  ·  review of another edition
Shelves: money
I liked Contrarian Investment Strategies: The Classic Edition better. Both were more for people who people individual stocks although I managed to get some useful information nonetheless
Joel Gray
Jan 20, 2017 rated it really liked it
STATISTICS DRAG US TOWARD THE VALUE CAMP BUT OUR EMOTIONS JUST AS SURELY TUG US THE OTHER WAY.

Hindsight bias seriously impairs proper assessment of past errors and significantly limits which can be be learned from experience.

Treasury bills, supposedly the safest investment there is, have cost investors 77% of their purchasing power since 1946.

The excessive use of credit is the first of many destructive characteristics most bubbles have in common.

The Nasdaq fell 83% from 1996 to 2002.

When the eno
...more
Brian Zheng
Mar 08, 2012 rated it it was amazing  ·  review of another edition
This book is updated recently by the author, David Dreman, a pioneer on behavioral investing and a true contrarian. He used well-organized studies to argue against the Efficient Market Hypothesis and CAPM. Although EMH has been disproved by black swan events in many circumstances, it still has a large support base due to the lacking of a better theory. CAPM was rejected by Eugene Fama, father of EMH as early as 1992, who stated that "Beta as the sole variable in explaining returns on stocks is d ...more
Will
Jul 08, 2013 rated it it was amazing
Outstanding. Dreman cuts through the clutter of prevailing investment fads and delivers a solid approach to investing based on his experiences and careful statistical research. My only wish is that I had read his newl updated 2012 book, which seems to be receiving excellent reviews on Goodreads too.
Randy
Sep 18, 2012 rated it it was amazing  ·  review of another edition
Excellent, though it fails to tell the whole story. Beware of market manipulation....
Alan Deng
May 31, 2014 rated it really liked it
Fallacies in investments. Psychological detrimental factors that prevent one from being a successful investor. All common sense but difficult to be executed.
Jeffrey
May 30, 2009 rated it it was ok
Basically a book on value, buy and hold investing.
SHIVENDRA KUMAR
On Contrarian Investment Strategy
pavana Kumar Varanasi
A very good basic introduction on how value strategies outperformed all other strategies etc.
Ahmed Noureldein
rated it really liked it
Sep 27, 2015
Patrick
rated it it was amazing
Sep 25, 2016
simble
rated it it was amazing
May 20, 2016
Bin Li
rated it it was amazing
Dec 13, 2016
Stefan Verstraeten
rated it it was amazing
Apr 30, 2015
Sansondubey
rated it it was amazing
Jan 14, 2017
Harsh Patel
rated it it was amazing
Feb 15, 2018
Ryan
rated it liked it
Jul 18, 2016
Harsh Thaker
Apr 27, 2017 rated it it was amazing
Key take away is the difference is a great investor knows when to be a contrarian & when to be a conformist whereas a less successful value investor doesn’t
Stanley Aog
rated it liked it
Aug 12, 2017
Gert Van Huynegem
rated it liked it
Sep 22, 2015
Phil
rated it it was amazing
Oct 04, 2015
Thomas Nilsson
rated it liked it
May 19, 2018
« previous 1 3 4 5 6 7 8 9 next »
There are no discussion topics on this book yet. Be the first to start one »

Readers also enjoyed

  • John Neff on Investing
  • The Aggressive Conservative Investor
  • The Money Masters
  • Theory of Investment Value
  • What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time
  • Active Value Investing
  • Accounting for Value
  • Quality of Earnings
  • The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
  • The Invisible Hands: Hedge Funds Off the Record - Rethinking Real Money
  • The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend
  • Mosaic: Perspectives on Investing
  • A Piece of the Action: How the Middle Class Joined the Money Class
  • Value Investing: From Graham to Buffett and Beyond
  • Martin Zweig's Winning on Wall Street
  • The Art of Short Selling
  • There's Always Something to Do: The Peter Cundill Investment Approach
  • Creating Shareholder Value: A Guide for Managers and Investors
See similar books…

Goodreads is hiring!

If you like books and love to build cool products, we may be looking for you.
Learn more »
11 followers
David Dreman is a noted investor, who founded and is the Chairman of Dreman Value Management, an investment company. His father, Joseph Dreman, was a prominent trader on the Winnipeg Commodity Exchange for many years. David Dreman graduated from the University of Manitoba in 1958. After graduating, he worked as director of research for Rauscher Pierce, senior investment officer with Seligman, and ...more