{"product_id":"the-little-book-of-investing-like-the-pros-isbn-9781118281406","title":"The Little Book of Investing Like the Pros","description":"\u003cp\u003eAs you have probably noticed, there are quite a few investing books out there. Many of them were written by some of the world's greatest investors. So, why should \u003ci\u003eyou\u003c\/i\u003e read \u003ci\u003eour\u003c\/i\u003e book?\u003c\/p\u003e \u003cp\u003eStock investing is more prevalent than ever, whether directly or indirectly through brokerage accounts, exchange-traded funds, mutual funds, or retirement plans. Despite this, the vast majority of individual investors have no training on how to pick stocks. And, until now, there hasn't been a truly accessible, easy-to-understand resource available to help them. \u003ci\u003eThe Little Book of Investing Like the Pros\u003c\/i\u003e was written to fill this void.\u003c\/p\u003e \u003cp\u003eWe believe the simplicity and accessibility of our stock picking framework is truly unique. Using real-world examples and actual Wall Street models used by the pros, we teach you how to pick stocks in a highly accessible, step-by-step manner. Our goal is straightforward—to impart the skills necessary for finding high-quality stocks while protecting your portfolio with risk management best practices.\u003c\/p\u003e \u003cp\u003eOur practical approach is designed to help demystify the investing process, which can be intimidating. This training will help set you apart from others who are largely flying blind.\u003c\/p\u003e \u003cp\u003ePilots require extensive training before receiving a license. Doctors must graduate medical school, followed by a multi-year residency. Even those providing professional investment advice require certification. But, anyone can buy a stock without any training whatsoever. While buying stocks on a hunch and a prayer may not endanger your life, it can certainly put your finances at risk.\u003c\/p\u003e \u003cp\u003eAbout the Authors ix\u003c\/p\u003e \u003cp\u003eForeword by \u003ci\u003eHoward Marks\u003c\/i\u003e xv\u003c\/p\u003e \u003cp\u003eAcknowledgments xix\u003c\/p\u003e \u003cp\u003eDisclaimer xxv\u003c\/p\u003e \u003cp\u003eIntroduction 1\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter One Step I: Idea Generation 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eScreens 22\u003c\/p\u003e \u003cp\u003eBottom-Up Approach 24\u003c\/p\u003e \u003cp\u003eTop-Down Approach 59\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Two Step II: Identifying the Best Ideas 71\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIdea Review Framework 73\u003c\/p\u003e \u003cp\u003eInvestment Thesis 77\u003c\/p\u003e \u003cp\u003eBusiness Overview 82\u003c\/p\u003e \u003cp\u003eManagement 91\u003c\/p\u003e \u003cp\u003eRisks \u0026amp; Considerations 96\u003c\/p\u003e \u003cp\u003eFinancials \u0026amp; Valuation 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Three Step III: Business \u0026amp; Financial Due Diligence 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBusiness Due Diligence 123\u003c\/p\u003e \u003cp\u003eFinancial Due Diligence 148\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Four Step IV: Valuation \u0026amp; Catalysts 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eValuation 173\u003c\/p\u003e \u003cp\u003eMarket and Intrinsic Valuation 174\u003c\/p\u003e \u003cp\u003eBuyout Valuation 194\u003c\/p\u003e \u003cp\u003eCatalysts 206\u003c\/p\u003e \u003cp\u003eSetting the Price Target 227\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter Five Step V: Investment Decision \u0026amp; Portfolio Management 233\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMaking the Investment Decision 236\u003c\/p\u003e \u003cp\u003eMonitor the Investment 243\u003c\/p\u003e \u003cp\u003ePortfolio Construction 250\u003c\/p\u003e \u003cp\u003ePortfolio \u0026amp; Risk Management 263\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePost-Mortem: Delphi Automotive 279\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBibliography \u0026amp; Recommended Reading 289\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJOSHUA PEARL\u003c\/b\u003e has served as a Managing Director at Brahman Capital, a long\/short equity asset manager. He focuses on public equity investments and special situations utilizing a fundamentals-based approach. Previously, he structured high yield financings, leveraged buyouts, and restructurings as a Director at UBS Investment Bank. Prior to UBS, he worked at Moelis \u0026amp; Company and Deutsche Bank. He received his BS in Business from Indiana University's Kelley School of Business. He is also the co-author of \u003ci\u003eInvestment Banking: Valuation, LBOs, M\u0026amp;A, and IPOs\u003c\/i\u003e.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJOSHUA ROSENBAUM\u003c\/b\u003e is a Managing Director and Head of the Industrials \u0026amp; Diversified Services Group at RBC Capital Markets. He originates, structures, and advises on M\u0026amp;A, corporate finance, and capital markets transactions. Previously, he worked at UBS Investment Bank and the International Finance Corporation, the direct investment division of the World Bank. He received his AB from Harvard and his MBA with Baker Scholar honors from Harvard Business School. He is also the co-author of \u003ci\u003eInvestment Banking: Valuation, LBOs, M\u0026amp;A, and IPOs\u003c\/i\u003e.\u003c\/p\u003e  \u003cp\u003eAs you have probably noticed, there are quite a few investing books out there. Many of them were written by some of the world's greatest investors. So, why should \u003ci\u003eyou\u003c\/i\u003e read \u003ci\u003eour\u003c\/i\u003e book?  \u003c\/p\u003e\u003cp\u003eStock investing is more prevalent than ever, whether directly or indirectly through brokerage accounts, exchange-traded funds, mutual funds, or retirement plans. Despite this, the vast majority of individual investors have no training on how to pick stocks. And, until now, there hasn't been a truly accessible, easy-to-understand resource available to help them. \u003ci\u003eThe Little Book of Investing Like the Pros\u003c\/i\u003e was written to fill this void.  \u003c\/p\u003e\u003cp\u003eWe believe the simplicity and accessibility of our stock picking framework is truly unique. Using real-world examples and actual Wall Street models used by the pros, we teach you how to pick stocks in a highly accessible, step-by-step manner. Our goal is straightforward—to impart the skills necessary for finding high-quality stocks while protecting your portfolio with risk management best practices.  \u003c\/p\u003e\u003cp\u003eOur practical approach is designed to help demystify the investing process, which can be intimidating. This training will help set you apart from others who are largely flying blind.  \u003c\/p\u003e\u003cp\u003ePilots require extensive training before receiving a license. Doctors must graduate medical school, followed by a multi-year residency. Even those providing professional investment advice require certification. But, anyone can buy a stock without any training whatsoever. While buying stocks on a hunch and a prayer may not endanger your life, it can certainly put your finances at risk.\t   \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePRAISE FOR THE LITTLE BOOK OF INVESTING LIKE THE PROS\u003c\/b\u003e  \u003c\/p\u003e\u003cp\u003e\"Contrary to what many believe, investing need not be a random walk. For would-be stock pickers who want to beat the market, \u003ci\u003eThe Little Book of Investing Like the Pros\u003c\/i\u003e articulates a process which will greatly assist them in achieving that goal.\" \u003cb\u003e —Stanley Druckenmiller,\u003c\/b\u003e Founder \u0026amp; CIO, Duquesne Family Office \u003c\/p\u003e\u003cp\u003e\"Pearl and Rosenbaum have written a book that any serious investor, or anyone aspiring to be one, will want to read. Investing in stocks sounds easy. It's not. Emotion surrounding equities and money too often impedes clear and methodical thinking, which is the key to long-term success in the stock market. This volume provides a framework that will help you stay on track.\" \u003cb\u003e —David Abrams,\u003c\/b\u003e Founder, Abrams Capital Management \u003c\/p\u003e\u003cp\u003e\"The two Joshes have produced a succinct investment guide. They have distilled some of the most complex investing concepts into an easily digestible and accessible framework.\" \u003cb\u003e —Nelson Peltz,\u003c\/b\u003e CEO \u0026amp; Founding Partner, Trian Fund Management, L.P. \u003c\/p\u003e\u003cp\u003e\"This book is a valuable guide for investors learning to select securities and build portfolios in a thoughtful, professional manner. The authors provide an easy-to-follow approach which begins with idea generation and moves through the critical steps for analyzing company performance, security valuation, and potential risks.\" \u003cb\u003e —Abby Joseph Cohen, CFA,\u003c\/b\u003e Advisory Director \u0026amp; Senior Investment Strategist, Goldman Sachs \u003c\/p\u003e\u003cp\u003e\"Josh was among the first investors outside of the cable universe to understand and believe in what we could do with Charter. The tools and techniques contained in this book were crucial in uncovering this story, which continues to unfold.\" \u003cb\u003e —Thomas Rutledge,\u003c\/b\u003e Chairman \u0026amp; CEO, Charter Communications \u003c\/p\u003e\u003cp\u003e\"When we did our roadshow, many investors felt our story was too good to be true. Those that didn't invest missed out on a tremendous ride. This book may have helped them make a different decision.\" \u003cb\u003e —Rodney O'Neal,\u003c\/b\u003e Retired President \u0026amp; CEO, Delphi Automotive  \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePraise for \u003ci\u003eThe Little Book of Investing Like the Pros\u003c\/i\u003e\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Simply put, I have never before seen a book that provides the same complete and thoughtful orientation to the process of investing. The Little Book is clear, logical and well-organized, a concise survey course in what investors need to know. It starts at the beginning, with identifying candidates for investment and screening them for potential.\"\u003cbr\u003e—Foreword by \u003cb\u003eHoward Marks,\u003c\/b\u003e Co-Chairman and Co-Founder, Oaktree Capital Management\u003c\/p\u003e \u003cp\u003e\"Contrary to what many believe, investing need not be a random walk. For would-be stock pickers who want to beat the market, \u003ci\u003eThe Little Book of Investing Like the Pros\u003c\/i\u003e articulates a process which will greatly assist them in achieving that goal.\"\u003cbr\u003e—\u003cb\u003eStanley Druckenmiller\u003c\/b\u003e, Founder \u0026amp; CIO, Duquesne Family Office\u003c\/p\u003e \u003cp\u003e\"Pearl and Rosenbaum have written a book that any serious investor, or anyone aspiring to be one, will want to read. Investing in stocks sounds easy. It's not. Emotion surrounding equities and money too often impedes clear and methodical thinking, which is the key to long-term success in the stock market. This volume provides a framework that will help you stay on track.\"\u003cbr\u003e—\u003cb\u003eDavid Abrams\u003c\/b\u003e, Founder, Abrams Capital Management\u003c\/p\u003e \u003cp\u003e\"The two Joshes have produced a succinct investment guide. They have distilled some of the most complex investing concepts into an easily digestible and accessible framework.\"\u003cbr\u003e—\u003cb\u003eNelson Peltz\u003c\/b\u003e, CEO \u0026amp; Founding Partner, Trian Fund Management\u003c\/p\u003e \u003cp\u003e\"This book is a valuable guide for investors learning to select securities and build portfolios in a thoughtful, professional manner. The authors provide an easy-to-follow approach which begins with idea generation and moves through the critical steps for analyzing company performance, security valuation, and potential risks.\"\u003cbr\u003e—\u003cb\u003eAbby Joseph Cohen\u003c\/b\u003e, CFA, Advisory Director and Senior Investment Strategist, Goldman Sachs\u003c\/p\u003e \u003cp\u003e\"Josh was among the first investors outside of the cable universe to understand and believe in what we could do with Charter. The tools and techniques contained in this book were crucial in uncovering this story, which continues to unfold.\"\u003cbr\u003e—\u003cb\u003eThomas Rutledge\u003c\/b\u003e, Chairman \u0026amp; CEO, Charter Communications\u003c\/p\u003e \u003cp\u003e\"When we did our roadshow, many investors felt our story was too good to be true. Those that didn't invest missed out on a tremendous ride. This book may have helped them make a different decision.\"\u003cbr\u003e—\u003cb\u003eRodney O'Neal\u003c\/b\u003e, Retired President CEO, Delphi Automotive\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990280192229,"sku":"NP9781118281406","price":28.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118281406.jpg?v=1761787182","url":"https:\/\/k12savings.com\/es\/products\/the-little-book-of-investing-like-the-pros-isbn-9781118281406","provider":"K12savings","version":"1.0","type":"link"}