{"product_id":"the-value-investors-isbn-9781119617068","title":"The Value Investors","description":"\u003cp\u003e\u003cb\u003eThe latest edition of the popular collection of in-depth portraits of extraordinary value investors, featuring new profiles and updates\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe second edition of\u003ci\u003e The Value Investors \u003c\/i\u003epresents a collection of investing legend profiles from around the world. Chapters explore the investors’ backgrounds, cultures, and personal stories, and reveal how life experiences have shaped their investment strategies and mindsets. This fascinating book shows you that value investing is a dynamic, constantly-changing strategy which, when properly implemented, can provide significant, sustainable benefits. Although the investors profiled come from a diverse range of geographic regions and socio-economic, cultural, and educational backgrounds, they share similar personality traits, temperaments, and investment philosophes.\u003c\/p\u003e \u003cp\u003eThoroughly revised and expanded, the book provides relevant updates on the professional and personal experiences of the investors since the first edition's publication. Complementing the original profiles are several new chapters featuring established value investors including Howard Marks, as well as rising personalities and fund managers such as Álvaro Guzmán de Lázaro and Fernando Bernad Marrase. Author Ronald Chan, founder of Hong Kong-based investment management Chartwell Capital Limited, highlights how and why the value investors have consistently beaten the stock market through the years. This book:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eCovers multiple generations, geographies, and value investing styles\u003c\/li\u003e \u003cli\u003ePresents updated profiles of notable value investors such as Walter Schloss, Irving Kahn and Thomas Kahn, Jean-Marie Eveillard, Mark Mobius, and Teng Ngiek Lian\u003c\/li\u003e \u003cli\u003eProfiles international fund and asset managers from the North America, Europe and Asia\u003c\/li\u003e \u003cli\u003eIncludes a chapter on the making of a successful value investor\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eThe Value Investors: Lessons from the World's Top Fund Managers, 2nd Edition\u003c\/i\u003e is a must-read for investors looking to diversify their portfolios across different asset classes or geographic areas, finance professionals and students, and general readers with interest in value investing.\u003c\/p\u003e \u003cp\u003eForeword xiii\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Master of the Market Cycle 1\u003cbr\u003e\u003c\/b\u003eHoward Marks, \u003ci\u003eOaktree Capital Management\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eFrom Equity to Credit 6\u003c\/p\u003e \u003cp\u003eA Priority on Avoiding Losses 10\u003c\/p\u003e \u003cp\u003eThe Pendulum Swing 14\u003c\/p\u003e \u003cp\u003eThe Negative Art of Investing 17\u003c\/p\u003e \u003cp\u003eNobody Knows 20\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Free to Choose in Value Land 24\u003cbr\u003e\u003c\/b\u003eWalter Schloss, \u003ci\u003eWalter \u0026amp; Edwin Schloss Associates\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eLiving through the Great Depression 28\u003c\/p\u003e \u003cp\u003eThe Meaning of Survival 31\u003c\/p\u003e \u003cp\u003eNet-Nets 32\u003c\/p\u003e \u003cp\u003eSetting the Right Pace 36\u003c\/p\u003e \u003cp\u003eKnow Thyself 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Once Upon a Time on Wall Street 42\u003cbr\u003e\u003c\/b\u003eIrving Kahn, \u003ci\u003eKahn Brothers Group\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eBecoming Graham’s Disciple 48\u003c\/p\u003e \u003cp\u003ePreaching Value 51\u003c\/p\u003e \u003cp\u003eA Centenarian Diet 56\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 The Making of a Contrarian 59\u003cbr\u003e\u003c\/b\u003eThomas Kahn, \u003ci\u003eKahn Brothers Group\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eA Modified Graham Approach 64\u003c\/p\u003e \u003cp\u003eThe Case for Obscure Securities 69\u003c\/p\u003e \u003cp\u003eMarket Reflection 72\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 On the Shoulders of Value Giants 75\u003cbr\u003e\u003c\/b\u003eWilliam Browne, \u003ci\u003eTweedy, Browne Company\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eA Valuable Detour 81\u003c\/p\u003e \u003cp\u003eStatistics and Beyond 82\u003c\/p\u003e \u003cp\u003eSetting a Global Standard 85\u003c\/p\u003e \u003cp\u003eThe Social Science of Investing 88\u003c\/p\u003e \u003cp\u003eThe Market Ahead 91\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 A Journey to the Center of Value 94\u003cbr\u003e\u003c\/b\u003eJean-Marie Eveillard, \u003ci\u003eFirst Eagle Funds\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eValley of Tears 99\u003c\/p\u003e \u003cp\u003eThe Inefficient Market 101\u003c\/p\u003e \u003cp\u003eThe Meaning of Value 105\u003c\/p\u003e \u003cp\u003eThe Courage to Say No 108\u003c\/p\u003e \u003cp\u003eSeeking Protection 110\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Self-Taught Value Spaniard 114\u003cbr\u003e\u003c\/b\u003eFrancisco García Paramés, \u003ci\u003eCobas Asset Management\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eOn a Solo Value Hunt 119\u003c\/p\u003e \u003cp\u003eInvesting Made Simple 122\u003c\/p\u003e \u003cp\u003eAustrian Economics and the Market 125\u003c\/p\u003e \u003cp\u003eA Global Rebalancing 129\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 The Law of Value Attraction 133\u003cbr\u003e\u003c\/b\u003eÁlvaro Guzmán de Lázaro and Fernando Bernad Marrase, \u003ci\u003eAzValor Asset Management\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eA Value Cross-Path 137\u003c\/p\u003e \u003cp\u003eA Value Reunion 141\u003c\/p\u003e \u003cp\u003eThe Art of Concentration 144\u003c\/p\u003e \u003cp\u003eThe A to Z of Value 148\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The Odyssey of a Value Broker 151\u003cbr\u003e\u003c\/b\u003ePhilip Best, \u003ci\u003eQuaero Capital S.A.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eEstablishing the Best Contacts 157\u003c\/p\u003e \u003cp\u003eAcquiring the Best Techniques 162\u003c\/p\u003e \u003cp\u003eInvesting Off the Beaten Path 164\u003c\/p\u003e \u003cp\u003eA Sustainable Investment Platform 168\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 The Income-Conscious Englishman 173\u003cbr\u003e\u003c\/b\u003eAnthony Nutt, \u003ci\u003eJupiter Asset Management\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eA Victorian Mindset 178\u003c\/p\u003e \u003cp\u003eFinding the Right Investment Culture 181\u003c\/p\u003e \u003cp\u003eTrusting Only Tangible Income 184\u003c\/p\u003e \u003cp\u003eThe Courage to Keep Going 188\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 The Frequent Value Traveler 190\u003cbr\u003e\u003c\/b\u003eMark Mobius, \u003ci\u003eMobius Capital Partners\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eReading between the Minds 195\u003c\/p\u003e \u003cp\u003eThinking Big and Small 197\u003c\/p\u003e \u003cp\u003eTrouble is Opportunity 200\u003c\/p\u003e \u003cp\u003eFeeling the Market 205\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 The Value-Oriented Businessman 208\u003cbr\u003e\u003c\/b\u003eTeng Ngiek Lian, \u003ci\u003eTarget Asset Management\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eLearning the Numbers 211\u003c\/p\u003e \u003cp\u003eThe Art of Contrary Thinking 214\u003c\/p\u003e \u003cp\u003eTargeting Good Businesses in Asia 217\u003c\/p\u003e \u003cp\u003eThe Relativity of Valuation 219\u003c\/p\u003e \u003cp\u003eA Value Lifestyle 222\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Value Investing in the Lost Decade 225\u003cbr\u003e\u003c\/b\u003eShuhei Abe, \u003ci\u003eSPARX Group\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eA Musical Beginning 230\u003c\/p\u003e \u003cp\u003eBreaking the Language Barrier 232\u003c\/p\u003e \u003cp\u003eLearning from the West 232\u003c\/p\u003e \u003cp\u003eThe Evolution of SPARX 235\u003c\/p\u003e \u003cp\u003eBuilding a Westernized Asia 238\u003c\/p\u003e \u003cp\u003eSearching for Value 239\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Eternal Sunshine of the Value Mind 243\u003cbr\u003e\u003c\/b\u003eV-Nee Yeh, \u003ci\u003eValue Partners Group\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eA Multidisciplinary Path 246\u003c\/p\u003e \u003cp\u003eSeeking a Comfortable Price 250\u003c\/p\u003e \u003cp\u003eFinding a Value Partner 251\u003c\/p\u003e \u003cp\u003eSpotting Value Minds 255\u003c\/p\u003e \u003cp\u003eBecoming a Man of Value 257\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 The Formless Value Deal Maker 260\u003cbr\u003e\u003c\/b\u003eKin Chan, \u003ci\u003eArgyle Street Management Ltd.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eNavigating in the Slum 266\u003c\/p\u003e \u003cp\u003eSpecializing in Distressed Investing 269\u003c\/p\u003e \u003cp\u003eAn Atypical Investment Structure 271\u003c\/p\u003e \u003cp\u003eThe Rise of the “Can’t Do” Spirit 276\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 The Accidental Value Investor 279\u003cbr\u003e\u003c\/b\u003eCheah Cheng Hye, \u003ci\u003eValue Partners Group\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003eStarting an Investment Hobby Shop 286\u003c\/p\u003e \u003cp\u003eBuilding a Value Temple 288\u003c\/p\u003e \u003cp\u003eAn Industrialized Process 291\u003c\/p\u003e \u003cp\u003eA Value March Forward 295\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 The Making of a Value Investor 298\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvestment Stewardship 301\u003c\/p\u003e \u003cp\u003eIntellectual Humility 303\u003c\/p\u003e \u003cp\u003eDeveloping Your Own Rhythm 306\u003c\/p\u003e \u003cp\u003eBe Unconventional 308\u003c\/p\u003e \u003cp\u003eThe Balance Between Diversification and Concentration 309\u003c\/p\u003e \u003cp\u003eTemperament is Above All 311\u003c\/p\u003e \u003cp\u003eAcknowledgments 313\u003c\/p\u003e \u003cp\u003eAbout the Author 316\u003c\/p\u003e \u003cp\u003eIndex 317 \u003c\/p\u003e  \u003cp\u003e\u003cb\u003eRONALD W. CHAN \u003c\/b\u003eis Chief Investment Officer of Chartwell Capital Limited, an investment management company based in Hong Kong. He is a frequent contributor to financial newspapers and magazines in the Asia-Pacific region, and is the author of \u003ci\u003eBehind the Berkshire Hathaway Curtain: Lessons from Warren Buffett’s Top Business Leaders. \u003c\/i\u003eHe holds Bachelor of Science degrees in Finance and Accounting from the Stern School of Business at New York University.   \u003c\/p\u003e\u003cp\u003eThe second edition of \u003ci\u003eThe Value Investors: Lessons From The World’s Top Fund Managers \u003c\/i\u003esees the timely addition of successful value investors, such as Howard Marks of Oaktree Capital, to the existing line-up of investment luminaries that includes Irving Kahn, who worked closely with “the father of value investing” Benjamin Graham; Walter Schloss, who was described by Warren Buffett as the “superinvestor from Graham-and-Doddsville;” Cheah Cheng Hye of Hong Kong’s Value Partners and Shuhei Abe of Japan’s SPARX Group. Accomplished investor and author, Ronald Chan, sheds light on how all these internationally acclaimed value investors, despite differences in age and culture, remain as relevant as ever today. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Value Investors \u003c\/i\u003eshows how each investor’s personal background, life experiences, and culture have shaped their investment strategies and financial mindsets to consistently beat the stock market over the years. Readers will gain a better understanding of how personal traits and investment temperament can shape ordinary careers into extraordinary ones. \u003c\/p\u003e\u003cp\u003eThis book, written in an accessible and approachable style that foregoes much of the heavy mathematics found in competing works, puts together a compelling case for the argument that value comes in different forms. It also persuasively demonstrates that value investing is a dynamic and ever-evolving way of approaching the markets and is not the staid and old-fashioned investment strategy that it’s so often made out to be.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990362308837,"sku":"NP9781119617068","price":45.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119617068.jpg?v=1761787517","url":"https:\/\/k12savings.com\/es\/products\/the-value-investors-isbn-9781119617068","provider":"K12savings","version":"1.0","type":"link"}