Chapter Nine. How to Be a Wise Investor

Chapters in this book

1. Frontmatter i
2. Contents vii
3. Preface xi
4. Acknowledgments xvii
5. Prologue: A Short History of Investing 1
6. Introduction: Noise 17
7. Part One. Illusion
8. Chapter One. Opinions and Beliefs 25
9. Chapter Two. Correlation of Errors 31
10. Chapter Three. The Dark Arts 44
11. Chapter Four. Purveyors of the Dark Arts 50
12. Chapter Five. Victims of the Dark Arts 61
13. Part Two. Verity
14. Chapter Six. Logic — Data — Doubt 71
15. Chapter Seven. Investing as a Negative Art 80
16. Chapter Eight. Shaping the Investment Thesis 84
17. Chapter Nine. How to Be a Wise Investor 97
18. Chapter Ten. The Art of Looking 102
19. Part Three. Foundations
20. Chapter Eleven. Price and Value 113
21. Chapter Twelve. How to Value a Business 123
22. Chapter Thirteen. Risk and Uncertainty 131
23. Chapter Fourteen. The Simple Math of Valuation 138
24. Chapter Fifteen. Yield — Stability — Strength 154
25. Part Four. Diligence
26. Chapter Sixteen. Depth Analysis 173
27. Chapter Seventeen. Dive for Strength 176
28. Chapter Eighteen. Define Good Business 190
29. Chapter Nineteen. Watch the Game 205
30. Chapter Twenty. Meet the Managers 225
31. Part Five. Policy
32. Chapter Twenty-One. Diversification 247
33. Chapter Twenty-Two. Another Way to Portfolio 253
34. Chapter Twenty-Three. Core Holdings 259
35. Chapter Twenty-Four. Growth 266
36. Chapter Twenty-Five. The Buffett Portfolio 276
37. Conclusion: Noise Control 291
38. Notes 299
39. Bibliography 313
40. Index 319