The Business of Value Investing.pdf

remembering the wonderful help I received that enabled me to go

into business for myself.

For the new student of value investing, this book aims to provide

a clear and concise illustration of the fundamental tenets of value

investing, which are ingrained in the mind and psyche of every suc-

cessful value investor. For the more advanced student and the active

professional, The Business of Value Investing endeavors to add to the

never-ending process of constant learning and application.

In the investment management business, eating one ’ s own

cooking should be the standard not the exception. The investment

manager who has his own capital invested alongside his clients ’ is

a powerful sign of alignment of interests. I see no reason why this

viewpoint should not spill over to an author who is recommending

an investment approach in a book. Thus, as you go over the case

studies presented in this book, they were, at one time or another,

all actual investments made by me.

xx Introduction

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