{"product_id":"the-manual-of-ideas-isbn-9781119052418","title":"The Manual of Ideas","description":"\u003cb\u003eIdea generation for value-oriented investing, from the top names in finance\u003c\/b\u003e \u003cp\u003e\u003ci\u003eThe Manual of Ideas\u003c\/i\u003e is the indispensable resource top investment firms like Berkshire Hathaway rely on for cutting edge research and investment ideas. As the definitive source for value investing opportunities, this book takes you inside the minds of the world's top money managers to learn how they generate the bright ideas that lead to big profits. This new second edition includes insights from more than 100 exclusive interviews with leading fund managers to give you access to the thought processes of super value investors including Warren Buffett, Tom Gayner, and Joel Greenblatt. Real-life case studies bring each approach to life, revealing key lessons along the way, and new tables and charts illuminate important concepts to provide a quicker, easier read. \u003c\/p\u003e\u003cp\u003eSuccessful investing begins with idea generation. Following the crowd will only get you so far, and the most successful investors from around the globe have developed their own approaches to identifying the right opportunities at the right time. This book lays out a gold mine of a framework to help you generate your own new and profitable value investment ideas. \u003c\/p\u003e\u003cul\u003e \u003cli\u003eLearn how the wizards of Wall Street find stocks\u003c\/li\u003e \u003cli\u003eApply each approach appropriately and effectively\u003c\/li\u003e \u003cli\u003eGain personal investing insight from leading fund managers\u003c\/li\u003e \u003cli\u003eIdentify, analyze, and implement the best value investing opportunities\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eCreative thinking is the unexpected lifeblood of investing, which is why great ideas are the focus of this book. If you're ready to take investing to the next level, you're going to have to realign your thinking—and \u003ci\u003eThe Manual of Ideas\u003c\/i\u003e is your roadmap to untapped opportunity. \u003c\/p\u003e\u003cp\u003eForeword to the First Edition ix\u003c\/p\u003e \u003cp\u003eForeword to The Manual of Ideas (Second Edition) xi\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One MINDSET\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Identify as a Capital Allocator: Put Your Capital Where It Is Treated Best 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePassive Versus Active Investing 4\u003c\/p\u003e \u003cp\u003eRole of Capital Allocator 9\u003c\/p\u003e \u003cp\u003eOwner Mentality 17\u003c\/p\u003e \u003cp\u003eStock Selection Framework 21\u003c\/p\u003e \u003cp\u003eKey Takeaways 23\u003c\/p\u003e \u003cp\u003eNotes 25\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Invert, Always Invert: To Finish First, First Finish 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFollowing the Crowd 30\u003c\/p\u003e \u003cp\u003eIf You Don’t Blow Up 37\u003c\/p\u003e \u003cp\u003eErgodicity: Win Infinite Games 40\u003c\/p\u003e \u003cp\u003eEntropy: A Lesson from Thermodynamics 43\u003c\/p\u003e \u003cp\u003eKey Takeaways 46\u003c\/p\u003e \u003cp\u003eNotes 48\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two IDEA GENERATION\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Ben Graham Bargains: Deep Discounts to Readily Ascertainable Net Asset Value 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 52\u003c\/p\u003e \u003cp\u003eUses and Misuses of Deep Value Investing 63\u003c\/p\u003e \u003cp\u003eScreening for Graham-Style Bargains 71\u003c\/p\u003e \u003cp\u003eBeyond Screening: Working Through a List of Deep Value Candidates 74\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of Graham-Style Bargains 79\u003c\/p\u003e \u003cp\u003eKey Takeaways 84\u003c\/p\u003e \u003cp\u003eNotes 85\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Sum of the Parts: Investing in Companies with Multiple Sources of Value 87\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 88\u003c\/p\u003e \u003cp\u003eUses and Misuses of Investing in Companies with Overlooked Assets 91\u003c\/p\u003e \u003cp\u003eScreening for Companies with Multiple Assets 94\u003c\/p\u003e \u003cp\u003eBeyond Screening: Proven Ways of Finding Hidden Assets 100\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of Companies with Hidden Assets 108\u003c\/p\u003e \u003cp\u003eKey Takeaways 111\u003c\/p\u003e \u003cp\u003eNotes 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Compounders, GARP, and Greenblatt’s Magic Formula 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 116\u003c\/p\u003e \u003cp\u003eUses and Misuses of Investing in Good and Cheap Companies 123\u003c\/p\u003e \u003cp\u003eScreening for Good and Cheap Companies 131\u003c\/p\u003e \u003cp\u003eBeyond Screening: Hope for Improvement Springs Eternal 135\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of Greenblatt-Style Bargains 139\u003c\/p\u003e \u003cp\u003eKey Takeaways 146\u003c\/p\u003e \u003cp\u003eNotes 147\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Jockeys: Great Managers, Owner-Operators, and “Outsiders”: Making Money Alongside Great CEOs 149\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 151\u003c\/p\u003e \u003cp\u003eUses and Misuses of Investing in Jockeys 154\u003c\/p\u003e \u003cp\u003eScreening for Jockey Stocks 164\u003c\/p\u003e \u003cp\u003eBeyond Screening: Building a Rolodex of Great Managers 174\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of Management 179\u003c\/p\u003e \u003cp\u003eKey Takeaways 185\u003c\/p\u003e \u003cp\u003eNotes 186\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 The Smart Money: Finding Opportunity in Superinvestor Portfolios 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSuperinvestors Are Super for a Reason 190\u003c\/p\u003e \u003cp\u003eUses and Misuses of Superinvestor Tracking 193\u003c\/p\u003e \u003cp\u003eScreening for Companies Owned by Superinvestors 196\u003c\/p\u003e \u003cp\u003eThe Superinvestors of Buffettsville 198\u003c\/p\u003e \u003cp\u003eBeyond Screening: What Makes a Company Attractive to Superinvestors? 205\u003c\/p\u003e \u003cp\u003eKey Takeaways 209\u003c\/p\u003e \u003cp\u003eNotes 211\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Diamonds in the Rough: The Opportunity in Underfollowed Small- and Micro-Caps 213\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 214\u003c\/p\u003e \u003cp\u003eUses and Misuses of Investing in Small Companies 219\u003c\/p\u003e \u003cp\u003eScreening for Promising Small- and Micro-Caps 223\u003c\/p\u003e \u003cp\u003eBeyond Screening: Other Ways of Finding Compelling Small- and Micro-Cap Ideas 231\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of Small-Cap Prospects 241\u003c\/p\u003e \u003cp\u003eKey Takeaways 246\u003c\/p\u003e \u003cp\u003eNotes 247\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Special Situations: Uncovering Opportunity in Event-Driven Investments 249\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 250\u003c\/p\u003e \u003cp\u003eUses and Misuses of Investing in Special Situations 254\u003c\/p\u003e \u003cp\u003eUncovering Special Situations 262\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of Special Situations 266\u003c\/p\u003e \u003cp\u003eKey Takeaways 271\u003c\/p\u003e \u003cp\u003eNotes 272\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Equity Stubs: Investing (or Speculating) in Leveraged Companies 273\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 275\u003c\/p\u003e \u003cp\u003eUses and Misuses of Investing in Equity Stubs 276\u003c\/p\u003e \u003cp\u003eScreening for Equity Stubs 285\u003c\/p\u003e \u003cp\u003eBeyond Screening: An Ambulance-Chasing Approach 288\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of Equity Stubs 291\u003c\/p\u003e \u003cp\u003eKey Takeaways 298\u003c\/p\u003e \u003cp\u003eNotes 299\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Global Investing: Searching for Value beyond Home Country Borders 301\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Approach: Why It Works 303\u003c\/p\u003e \u003cp\u003eUses and Misuses of Investing in International Equities 306\u003c\/p\u003e \u003cp\u003eScreening for International Equities 314\u003c\/p\u003e \u003cp\u003eBeyond Screening: Riding the Coattails of Regional Experts 320\u003c\/p\u003e \u003cp\u003eAsking the Right Questions of International Equities 324\u003c\/p\u003e \u003cp\u003eKey Takeaways 328\u003c\/p\u003e \u003cp\u003eNotes 329\u003cbr\u003e\u003cbr\u003e Bibliography 331\u003cbr\u003e\u003cbr\u003e About the Author 343\u003cbr\u003e\u003cbr\u003e Index 345\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eJOHN MIHALJEVIC, CFA,\u003c\/b\u003e serves as Managing Editor of Latticework.com and Chairman of MOI Global, which he founded in 2008. Through invitation-only events and member publications, MOI Global fosters a community of intelligent investors united by a passion for lifelong learning. From 2005-2016, John managed a private partnership, Mihaljevic Partners LP. He is a winner of the Value Investors Club’s prize for best investment idea. John is a trained capital allocator, having studied under Yale University Chief Investment Officer David Swensen and served as Research Assistant to Nobel Laureate James Tobin. John holds a BA in Economics, \u003ci\u003esumma cum laude\u003c\/i\u003e, from Yale and is a CFA charterholder. He resides near Zurich, Switzerland.    \u003c\/p\u003e\u003cp\u003e\u003cb\u003eThe definitive source for value investing ideas from the brightest minds in the business\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eConsidered an indispensable source for cutting-edge research and ideas among the world’s top investment firms and money managers, the journal \u003ci\u003eThe Manual of Ideas\u003c\/i\u003e boasts a list of subscribers that reads like a Who’s Who of high finance. Serving as an “idea funnel” for the world’s top money managers, the journal gives its subscribers a look inside the minds of the world’s most successful value investors, revealing how they generate the bright ideas that lead to big profits.  \u003c\/p\u003e\u003cp\u003eNow, this second edition opens up \u003ci\u003eThe Manual of Ideas\u003c\/i\u003e for every investor, providing a proven framework for finding, analyzing, and implementing the best value investing opportunities. Based on interviews with more than 100 top fund managers, this gold mine of wisdom gives you unique access to the thought processes of such super value investors as Warren Buffett, Howard Marks, and Joel Greenblatt.  \u003c\/p\u003e\u003cp\u003e\u003ci\u003eThe Manual of Ideas, Second Edition\u003c\/i\u003e includes: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eA variety of idea-generation techniques from the wizards of value investing, such as Ben Graham’s “Cigar Butt” strategy and Joel Greenblatt’s “Magic Formula” technique for finding good and cheap stocks\u003c\/li\u003e \u003cli\u003eOther techniques, including strategies for finding companies with hidden assets, investing in small- and micro-cap stocks, event-driven investing, equity stubs, and international value investing\u003c\/li\u003e \u003cli\u003eIn-depth discussion of the uses and misuses of each idea generation approach, along with key questions to ask of potential investment candidates\u003c\/li\u003e \u003cli\u003eReal-life case studies that reveal key investing lessons and bring each distinct idea generation approach to life\u003c\/li\u003e \u003cli\u003eExpanded wisdom, insights, and ideas drawn from more than 100 new exclusive interviews with leading fund managers worldwide\u003c\/li\u003e \u003cli\u003eNew tables and charts that illuminate key concepts and make the content more accessible\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eGreat ideas are the lifeblood of investing and the exclusive focus of the second edition of \u003ci\u003eThe Manual of Ideas\u003c\/i\u003e. Look inside and learn how to generate your own new and profitable value investing ideas.    \u003c\/p\u003e\u003cp\u003e\u003cb\u003ePRAISE FOR THE MANUAL OF IDEAS\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e“From esteemed author and investor John Mihaljevic, this standout guide brilliantly illuminates diverse paths to value investing success with compelling examples from various investors, offering enduring relevance that empowers readers at every level.”\u003cbr\u003e \u003cb\u003e—Christopher Tsai,\u003c\/b\u003e President and Chief Investment Officer, Tsai Capital Corporation \u003c\/p\u003e\u003cp\u003e“John Mihaljevic is one of the all-time best thinkers about the philosophy and practice of value investing. \u003ci\u003eThe Manual of Ideas\u003c\/i\u003e should be essential reading for investors and scholars who want access to his opinions, as well as the opinions of the dozens of highly successful investors he references. It is a manual of exceptionally good ideas.”\u003cbr\u003e \u003cb\u003e—Edgar (Ed) Wachenheim III\u003c\/b\u003e, Chairman, Greenhaven Associates \u003c\/p\u003e\u003cp\u003e“John’s work has stood the test of time and has a permanent spot on my bookshelf in the canon of value investing. John has articulated a taxonomy of investing and how to navigate the world of financial markets. As a gifted writer he both educates those just learning the craft of investing as well as those who have made it their life’s work.”\u003cbr\u003e \u003cb\u003e—Scott Miller,\u003c\/b\u003e Founder, Greenhaven Road Capital \u003c\/p\u003e\u003cp\u003e“Most books that promise to teach you how to become a great investor overlook the crucial first step—how to find ideas worth researching in the first place. Leveraging his experience interviewing the world’s most successful investors, John Mihaljevic distills this wisdom into a practical, repeatable framework for generating investment ideas. Delving into some of the most effective value strategies, \u003ci\u003eThe Manual of Ideas\u003c\/i\u003e will equip an investor with the tools to keep their pipeline full of compelling overlooked candidates ready to analyze.”\u003cbr\u003e \u003cb\u003e—Robert E. Robotti,\u003c\/b\u003e President and CIO, Robotti \u0026amp; Company Advisors \u003c\/p\u003e\u003cp\u003e“While value investing covers the full spectrum from growth to deep value, its core principles remain constant. In \u003ci\u003eThe Manual of Ideas\u003c\/i\u003e, John masterfully distills wisdom from the community’s varied sources and schools of thought. It’s clear why he has built and nurtured MOI Global into the most diverse and inspiring value investing community today.”\u003cbr\u003e \u003cb\u003e—Elliot J. Turner,\u003c\/b\u003e Chief Investment Officer, RGA Investment Advisors\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990283927781,"sku":"NP9781119052418","price":40.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119052418.jpg?v=1761787197","url":"https:\/\/k12savings.com\/products\/the-manual-of-ideas-isbn-9781119052418","provider":"K12savings","version":"1.0","type":"link"}