In my view, the current market environment is certainly a 'stock pickers market', with the market pricing groups of stocks with the same broad brush. Investors have become lazy at identifying individual winners and losers, and this has created opportunities for diligent value investors to pick winning stocks.
With this in mind, I've written a short 4-page summary of the key lessons from the book 'The Little Book of Value Investing' by Christopher Browne. In my view, this book is required reading for those new to value investing. In today's market environment, this book also provides easy to read reminders of Value Investing basics for seasoned investors.
Christopher Browne (1946 – 2009) was a stalwart of value investing, starting his career as the broker (Tweedy, Browne) for Warren Buffet.
This book is a shortened summary of The Intelligent Investor by Benjamin Graham and includes all the same concepts in less detail.
The basic concept of Value Investing is “Buying a business for far less than it is worth”.
Most people sell when stock prices decline and buy when stock prices rise.
Download the 4-page summary the key investor lessons here: