Investment Philosophies

The guide for investors who want a better understanding of investment strategies that have stood the test of time

This thoroughly revised and updated edition of Investment Philosophies covers different investment philosophies and reveal the beliefs that underlie each one, the evidence on whether the strategies that arise from the philosophy actually produce results, and what an investor needs to bring to the table to make the philosophy work.

The book covers a wealth of strategies including indexing, passive and activist value investing, growth investing, chart/technical analysis, market timing, arbitrage, and many more investment philosophies.

• Presents the tools needed to understand portfolio management and the variety of strategies available to achieve investment success
• Explores the process of creating and managing a portfolio
• Shows readers how to profit like successful value growth index investors
• Aswath Damodaran is a well-known academic and practitioner in finance who is an expert on different approaches to valuation and investment

This vital resource examines various investing philosophies and provides you with helpful online resources and tools to fully investigate each investment philosophy and assess whether it is a philosophy that is appropriate for you.

ASWATH DAMODARAN is Professor of Finance at New York University's Leonard N. Stern School of Business. He has been the recipient of numerous awards for outstanding teaching, including the NYU university-wide Distinguished Teaching Award, and was named one of the nation's top business school teachers by BusinessWeek in 1994. In addition, Damodaran teaches training courses in corporate finance and valuation at many leading investment banks. His publications include Investment Valuation (now in its third edition), Damodaran on Valuation: Security Analysis for Investment and Corporate Finance; Corporate Finance; Investment Management; and Applied Corporate Finance, all published by Wiley, and The Dark Side of Valuation.

Praise from the first edition of Investment Philosophies "Damodaran is a well-informed scholar with a gift for organized, clearly written syntheses of complex topics in modern finance. With Investment Philosophies he provides the uncensored facts about winning in the marketplace. If you are a fund manager, an investor, or simply a student of finance, you will want to read this book." --Tom Copeland , Managing Director of Corporate Finance, Monitor "Professor Damodaran has zeroed in on the most important missing element of many investment management processes: a clearly defined investment philosophy which can serve as a beacon in difficult markets. He offers a cornucopia of philosophies and strategies that have worked for many of the most successful investors, and which have stood the test of time." --Rob Arnott, Chairman , First Quadrant, LP; Editor, Financial Analysts Journal "As an investor, I always have to look back to my philosophy and strategy for taking risk and making money. This book is an invaluable aid for 'taking stock' before buying stock. It lays out the concepts and tools for understanding the basics of risk and return in the stock market, and presents a framework for any investor to construct his or her own investment philosophy." --Mitch Julis , Managing Partner, Canyon Capital Advisors

Praise from the first edition of Investment Philosophies "Damodaran is a well-informed scholar with a gift for organized, clearly written syntheses of complex topics in modern finance. With Investment Philosophies he provides the uncensored facts about winning in the marketplace. If you are a fund manager, an investor, or simply a student of finance, you will want to read this book." Tom Copeland , Managing Director of Corporate Finance, Monitor "Professor Damodaran has zeroed in on the most important missing element of many investment management processes: a clearly defined investment philosophy which can serve as a beacon in difficult markets. He offers a cornucopia of philosophies and strategies that have worked for many of the most successful investors, and which have stood the test of time." Rob Arnott, Chairman , First Quadrant, LP; Editor, Financial Analysts Journal "As an investor, I always have to look back to my philosophy and strategy for taking risk and making money. This book is an invaluable aid for taking stock before buying stock. It lays out the concepts and tools for understanding the basics of risk and return in the stock market, and presents a framework for any investor to construct his or her own investment philosophy." Mitch Julis , Managing Partner, Canyon Capital Advisors

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