A riveting read for investors of every level, this book shows you exactly what to do and what not to do when your big idea is losing or winning - and demonstrates conclusively why the most important thing about investing is always the art of execution. This book lays bare those secret habits for the first time, explaining them with real-life data, case studies and stories taken from Freeman-Shor's unique position of managing these investors on a day-to-day basis. How could they be wrong most of the time and still be profitable? The answer lay in their hidden habits of execution, which until now have only been guessed at from the outside world. Nevertheless, despite being wrong most of the time, many of these investors still ended up making a lot of money. Shockingly, a toss of a coin would have been a better method of choosing whether or not to invest in a stock.
But most of the investors' great ideas actually lost money. What could possibly go wrong? These were some of the greatest minds at work in the markets today - from top European hedge fund managers to Wall Street legends. It seemed like a foolproof plan to make a lot of money. They could only invest in their ten best ideas to make money. Over seven years, 45 of the world's top investors were given between $25 and $150m to invest by fund manager Lee Freeman-Shor. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals. Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy-to-use format.
Readers will be introduced to important value investing concepts such as "Heads, I win! Tails, I don't lose that much!," "Few Bets, Big Bets, Infrequent Bets," Abhimanyu's dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market.
A comprehensive value investing framework for the individual investor In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing.
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