{"product_id":"the-little-book-of-sideways-markets-isbn-9780470932933","title":"The Little Book of Sideways Markets","description":"\u003cp\u003e\"It's hard to talk clearly about investing and make sense to ordinary readers at the same time. Katsenelson gives a lucid explanation of today's markets with sound advice about how to make money while avoiding the traps that the market sets for exuberant bulls and frightened bears alike.\"\u003cbr\u003e—\u003cb\u003eThomas G. Donlan, Barron's\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"A thoroughly enjoyable read. Provides a clear framework for equity investing in today's ‘sideways' and volatile markets useful to everyone. Clear thinking and clear writing are not often paired - well done!\"\u003cbr\u003e—\u003cb\u003eDick Weil, CEO, Janus Capital Group\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"The bible for how to invest in the most tumultuous financial market environment since the Great Depression. A true guidebook for how to build wealth prudently.\"\u003cbr\u003e—\u003cb\u003eDavid Rosenberg, Chief Economist \u0026amp; Strategist, Gluskin Sheff + Associates Inc.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"A wonderful, grounded read for new and seasoned investors alike, Katsenelson explains in plain English why volatility and sideways markets are a stock picker's best friend.\"\u003cbr\u003e—\u003cb\u003eThe Motley Fool, www.Fool.com\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePraise for Active Value Investing\u003c\/p\u003e \u003cp\u003e\"This book reads like a conversation with Vitaliy: deep, insightful, inquisitive, and civilized.\"\u003cbr\u003e—\u003cb\u003eNassim Nicholas Taleb, author of The Black Swan\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\"Thoroughly enjoyable. . . for the thoughtful and often entertaining way in which it is delivered. . . Katsenelson takes his reader step by step into the mind of the value investor by relating, in a fictional addendum to Fiddler on the Roof, the story of Tevye's purchase of Golde, the cow. He also describes his own big-time gambling evening (he was willing to lose a maximum of $40) and that of a half-drunken, rowdy fellow blackjack player to stress the importance of process. He then moves on to the fundamental principles of active value investing. What differentiates this book from so many others on value investing is that it describes, sometimes through the use of case studies, the thinking of a value investor. Not just his models or his metrics but his assessments. Katsenelson is an empiricist who weighs facts, looks for contraindications, and makes decisions. He makes value investing come alive. This may be a little book, but it's packed with insights for both novices and experienced investors. And it is a delight to read.\"\u003cbr\u003e—\u003cb\u003eSeeking Alpha\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eForeword xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xxii\u003c\/p\u003e \u003cp\u003eIntroduction xxiii\u003c\/p\u003e \u003cp\u003eChapter One Fasten Your Seat Belt 1\u003c\/p\u003e \u003cp\u003eChapter Two A Sideways View of the World 9\u003c\/p\u003e \u003cp\u003eChapter Three Don’t Shoot the Messenger 23\u003c\/p\u003e \u003cp\u003eChapter Four Tevye Was a Rich Man 41\u003c\/p\u003e \u003cp\u003eChapter Five What We Can Learn from Gamblers 59\u003c\/p\u003e \u003cp\u003eChapter Six Brought to You by the Letter “Q” (for Quality) 65\u003c\/p\u003e \u003cp\u003eChapter Seven Brought to You by the Letter “G” (for Growth) 87\u003c\/p\u003e \u003cp\u003eChapter Eight Brought to You by the Letter “V”(for Valuation) 105\u003c\/p\u003e \u003cp\u003eChapter Nine Add It Up 117\u003c\/p\u003e \u003cp\u003eChapter Ten Nip\/Tuck 133\u003c\/p\u003e \u003cp\u003eChapter Eleven The Born-Again Value Investor 143\u003c\/p\u003e \u003cp\u003eChapter Twelve Applying Darwinism to the Sales Process 161\u003c\/p\u003e \u003cp\u003eChapter Thirteen You Are Not As Dumb—or Smart—As You Think 175\u003c\/p\u003e \u003cp\u003eChapter Fourteen On a Scavenger Hunt for Stocks 181\u003c\/p\u003e \u003cp\u003eChapter Fifteen Farewell, Blissful Ignorance 189\u003c\/p\u003e \u003cp\u003eChapter Sixteen Think Different 211\u003c\/p\u003e \u003cp\u003eChapter Seventeen I Could Be Wrong, but I Doubt It 223\u003c\/p\u003e \u003cp\u003e \u003c\/p\u003e \u003cp\u003e\"This is a book you can understand and have fun with no matter what level of experience you have. Even advanced investors have to refresh themselves in the basics once in awhile. Read it....\" (\u003ci\u003eFinancial Tides and Seeking Alpha\u003c\/i\u003e)\u003c\/p\u003e \u003cp\u003e\"\u003ci\u003eThis\u003c\/i\u003e book isn't about market timing. It's about winning in a flat market — the sort of knowledge that can make you a lot of money. In his book, Katsenelson reminds us that investing returns come in three ways: more earnings, more dividends, or a higher price-to-earnings ratio. I'm a dividend guy, so Katsenelson had me when he declared that 'the importance of dividends quadruples in sideways markets, where they historically represent more than 90% of total return.' Amen, brother! There are a lot of 'little books' out there, but \u003ci\u003eThe Little Book of Sideways Markets\u003c\/i\u003e offers excellent advice, reads easily, and will help you sidestep a potentially frustrating market.\"(\u003ci\u003eMotley Fool\u003c\/i\u003e)\u003c\/p\u003e \u003cp\u003e\"Offers guidance on the discipline of selecting stocks, as well as wisdom on the challenges of knowing when to sell. Does a masterful job of taking a highly technical subject and explaining it in easily understood terms. His explanation of discounted cash flow analysis to determine the right price for buying an asset is the best, and the most entertaining.\" (\u003ci\u003eNAPFA Advisor\u003c\/i\u003e)\u003c\/p\u003e \u003cp\u003e\"Thoroughly enjoyable. . . for the thoughtful and often entertaining way in which it is delivered. . . Katsenelson takes his reader step by step into the mind of the value investor by relating, in a fictional addendum to \u003ci\u003eFiddler on the Roof,\u003c\/i\u003e the story of Tevye's purchase of Golde, the cow. He also describes his own big-time gambling evening (he was willing to lose a maximum of $40) and that of a half-drunken, rowdy fellow blackjack player to stress the importance of process. He then moves on to the fundamental principles of active value investing. What differentiates this book from so many others on value investing is that it describes, sometimes through the use of case studies, the thinking of a value investor. Not just his models or his metrics but his assessments. Katsenelson is an empiricist who weighs facts, looks for contraindications, and makes decisions. He makes value investing come alive. This may be a little book, but it's packed with insights for both novices and experienced investors. And it is a delight to read.\" (\u003ci\u003eSeeking Alpha\u003c\/i\u003e)\u003c\/p\u003e \u003cp\u003e\"... thoroughly enjoyable, easy-to-read ... makes value investing come alive...packed with insights for both novices and experienced investors...a delight to read.\" (UK-Analyst.com)\u003c\/p\u003e \u003cp\u003e\"A thoroughly enjoyable read.... Useful to everyone.\" (Bullfax.com)\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eVITALIY N. KATSENELSON, CFA\u003c\/b\u003e, is Chief Investment Officer at Investment Management Associates. While his primary focus is on discovering undervalued companies for his clients, he is also known for his uncommon common sense, which he has regularly expressed in articles in the \u003ci\u003eFinancial Times, Barron's, Bloomberg Businessweek\u003c\/i\u003e, the \u003ci\u003eChristian Science Monitor, Institutional Investor\u003c\/i\u003e, and the \u003ci\u003eNew York Post\u003c\/i\u003e, among other outlets. He speaks frequently to investment groups around the world, and was most recently profiled in \u003ci\u003eBarron's\u003c\/i\u003e in September 2009. Previously, he was an adjunct faculty member at the University of Colorado Graduate School of Business, and he is also the author of \u003ci\u003eActive Value Investing\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003eTo read articles Katsenelson has written over the years, visit ActiveValueInvesting.com   \u003c\/p\u003e\u003cp\u003eWith the stock market turning into a roller-coaster ride of all-time highs and stomach-churning lows, where does that leave your portfolio? Pretty much back where you started in 2000. Which may be fine for visitors to Six Flags, but for your retirement, savings, and investments, you'd like to actually get somewhere. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eThe Little Book of Sideways Markets\u003c\/i\u003e, respected value investor and author Vitaliy Katsenelson shows you how to survive a stagnant market that's neither bull nor bear but instead what he calls a cowardly lion—it displays occasional bursts of bravado but is ultimately overcome by fear. \u003c\/p\u003e\u003cp\u003eKatsenelson, known for the commonsense principles he has written frequently about in the \u003ci\u003eFinancial Times, Bloomberg Businessweek\u003c\/i\u003e and elsewhere, decodes the theories and cuts to the chase with practical and timely strategies for how you can survive and thrive during a sideways market—a state of affairs, by the way, we should expect for the next decade. He'll show you: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eWhy your investments will stall in neutral and what to do about it\u003c\/li\u003e \u003cli\u003eWhy, despite its place as the Rodney Dangerfield of investing, you should treat \u003ci\u003emean reversion\u003c\/i\u003e with respect\u003c\/li\u003e \u003cli\u003eWhy Tevye was a rich man—and what you can learn from his purchase of Golde, the cow\u003c\/li\u003e \u003cli\u003eHow the dire state of economic affairs in China and Japan will impact your investments, and what to do about it\u003c\/li\u003e \u003cli\u003eThe three crucial concepts of value investing—Quality, Growth, and Valuation\u003c\/li\u003e \u003cli\u003eHow focus on process, boring as it may sound, leads to success\u003c\/li\u003e \u003cli\u003eWhy you should become a born-again value investor\u003c\/li\u003e \u003cli\u003eHow to break bad habits and find, buy and sell stocks in a sideways market\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eMaking progress in a sideways market is difficult, but the lively and entertaining \u003ci\u003eLittle Book of Sideways Markets\u003c\/i\u003e will help you triumph even when the market is stalled.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990280683749,"sku":"NP9780470932933","price":24.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470932933.jpg?v=1761787184","url":"https:\/\/k12savings.com\/products\/the-little-book-of-sideways-markets-isbn-9780470932933","provider":"K12savings","version":"1.0","type":"link"}