Investing Secrets of the Masters: Applying Classical Investment Ideas to Today's Turbulent Markets

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9780071341004: Investing Secrets of the Masters: Applying Classical Investment Ideas to Today's Turbulent Markets

"Investing Secrets of the Masters" will make you wealthy. Maybe not today, or even this year. But if you implement the strategies contained in this commonsense book and give them the time to mature, you will be rewarded with a sizable investment portfolio -- one that stands an excellent chance of topping most managed mutual funds and major market averages. The logic is straightforward: Over time, good stocks produce superior numbers. John Burr Williams reported this phenomenon in his classic 1938 Harvard thesis. Benjamin Graham and David L. Dodd reiterated it in 1951. And now it's your turn.

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Review:

Investing is a lot like driving down the highway with the windshield blacked out and only the rearview mirror to guide you. It is a wise investor indeed who studies the past and carefully considers the advice of the best minds that have come before. The challenge in equity investing is to find reliable, disciplined ways to exploit the stock market while controlling risk. In Investing Secrets of the Masters, Charles Babin and William J. Donovan draw from the knowledge and experience of some of history's greatest investment minds to present a simple, easy-to-follow strategy for building a portfolio that historically has provided a total return that outperformed the broader market.

At its core, the strategy is focused on the 15 stocks in the Dow Jones Industrial Average that have the best record of providing investors with generous, ever-growing dividend payouts. The authors argue that as equity prices have risen in recent years, dividends have been all but forgotten by investors myopically focused on capital appreciation. In contrast to the enormous resources committed to revenue and earnings projections, dividend policy is far easier to evaluate and far less volatile. Dividend growth says a lot about management's assessment of a company's underlying business prospects, and the record indicates that generous dividend payers outperform over time.

The book is liberally peppered with tables and graphs to explain modern portfolio theory, the efficient frontier, tactical and strategic asset allocation, and an easy method for evaluating companies based on their dividend policies. Quoted throughout are such 20th-century investing legends as Irving Fisher, Benjamin Graham, David Dodd, and John Burr Williams. Most investing is characterized by long periods of boredom punctuated with occasional moments of terror. A well-conceived, disciplined investment plan such as that detailed here can make the journey lot less traumatic. --Scott Harrison

From the Back Cover:

A breakthrough investing program--combining the wisdom of 20th century investing legends with today's proven low-risk, high-return strategies. "Common sense, elegantly restated, with just the right amount of original research and insight--this book will educate the novice, expand the horizons of the amateur, and give new perspective to the professional." Rick A. Cooper, Ph.D., Senior Partner and Director of Analytical Research, Harris Investment Management.

"Investing fads come and go, but this book is filled with many timeless insights to help the serious investor avoid the fads and achieve long-term success. Happy reading!" James W. MacAllen, President, David L. Babson & Co.

"A triumph of clarity, shrewdness, and wisdom, this book provides clear explanations of stock market behavior and prescient, tax-advantaged strategies for anticipating market declines and accumulating wealth. A must-read for serious investors." Tania Zouikin, CFA, Chairman and Chief Executive Officer, Batterymarch Financial Management.

Investing Secrets of the Masters harnesses the classic investing principles of the 20th century's financial giants--legends including Irving Fisher, Benjamin Graham, John Burr Williams, and others--with the modern investment techniques that have revolutionized the world of finance. This commonsense book will lead you to a deeper understanding of today's financial markets, and serve as a reminder that, when all is said and done, time-tested knowledge remains the foundation for long-term success.

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