This classic text is annotated to update Graham's timeless wisdom for today's market conditions...The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.

The best-selling investing "bible" offers new information, new insights, and new perspectivesThe Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007, Bogle’s investment principles have endured and served investors well. This tenth anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor.Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation, the other on retirement investing.A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favored by Warren Buffett, who said this about Bogle: “If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.”Bogle shows you how to make index investing work for you and help you achieve your financial goals, and finds support from some of the world's best financial minds: not only Warren Buffett, but Benjamin Graham, Paul Samuelson, Burton Malkiel, Yale’s David Swensen, Cliff Asness of AQR, and many others.This new edition of The Little Book of Common Sense Investing offers you the same solid strategy as its predecessor for building your financial future. Build a broadly diversified, low-cost portfolio without the risks of individual stocks, manager selection, or sector rotation. Forget the fads and marketing hype, and focus on what works in the real world. Understand that stock returns are generated by three sources (dividend yield, earnings growth, and change in market valuation) in order to establish rational expectations for stock returns over the coming decade. Recognize that in the long run, business reality trumps market expectations. Learn how to harness the magic of compounding returns while avoiding the tyranny of compounding costs.While index investing allows you to sit back and let the market do the work for you, too many investors trade frantically, turning a winner’s game into a loser’s game. The Little Book of Common Sense Investing is a solid guidebook to your financial future.

A guide to investing basics by the author of Broke Millennial, for anyone who feels like they aren't ready (or rich enough) to get into the marketMillennials want to learn how to start investing. The problem is that most have no idea where to begin. There's a significant lack of information out there catering to the concerns of new millennial investors, such as:* Should I invest while paying down student loans?* How do I invest in a socially responsible way?* What about robo-advisors and apps--are any of them any good?* Where can I look online for investment advice?In this second book in the Broke Millennial series, Erin Lowry answers those questions and delivers all of the investment basics in one easy-to-digest package. Tackling topics ranging from common terminology to how to handle your anxiety to retirement savings and even how to actually buy and sell a stock, this hands-on guide will help any investment newbie become a confident player in the market on their way to building wealth.

Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.Money―investing, personal finance, and business decisions―is typically taught as a math-based field, where data and formulas tell us exactly what to do. But in the real world people don’t make financial decisions on a spreadsheet. They make them at the dinner table, or in a meeting room, where personal history, your own unique view of the world, ego, pride, marketing, and odd incentives are scrambled together.In The Psychology of Money, award-winning author Morgan Housel shares 19 short stories exploring the strange ways people think about money and teaches you how to make better sense of one of life’s most important topics.

Value investing is not just a system for success in the market. It is also an intellectual toolkit for achieving a deeper understanding of the world. In The Joys of Compounding, value investor Gautam Baid builds a holistic approach to value investing and philosophy from his wide-ranging reading, combining practical approaches, self-cultivation, and business wisdom.Distilling investment and life lessons into a comprehensive guide, Baid integrates the strategies and wisdom of preeminent figures whose teachings have stood the test of time. Drawing on the work of investing greats like Warren Buffett, Charlie Munger, and Ben Graham, as well as philosophers and scholars, he artfully interweaves the lessons learned from his many teachers. Baid demonstrates their practical applications in the areas of business, investing, and decision making, and also shows that these ideas can be applied to one’s own life with just as much reward.A celebration of the value investing discipline, this book also recounts Baid’s personal experiences, testifying to his belief that the best investment you can make is an investment in yourself. The Joys of Compounding offers curated reflections on life and learning for all investors, investment enthusiasts, and readers seeking a dose of practical wisdom.This revised and updated edition highlights Baid’s distinctive voice.

“The Only Investment Guide You'll Ever Need . . . actually lives up to its name.” — Los Angeles Times“So full of tips and angles that only a booby or a billionaire could not benefit.” — New York TimesFor nearly forty years, The Only Investment Guide You'll Ever Need has been a favorite finance guide, earning the allegiance of more than a million readers across America. This completely updated edition will show you how to use your money to your best advantage in today's financial marketplace, no matter what your means.Using concise, witty, and truly understandable tips and explanations, Andrew Tobias delivers sensible advice and useful information on savings, investments, preparing for retirement, and much more.

#1 NEW YORK TIMES, WALL STREET JOURNAL, USA TODAY, AND BUSINESSWEEK BESTSELLER—OVER 1.5 MILLION COPIES SOLD!David Bach’s no-budget, no-discipline, no-nonsense system to help you finish rich automatically, now expanded and updatedDo you want to live rich and retire richer? Rich enough to do what you want when you want to do it? Rich enough to stop worrying about money? Rich enough to make a difference and help others?With The Automatic Millionaire, David Bach presents an easy, realistic system, based on timeless principles, with everything you need to know so you can put the secret to becoming an Automatic Millionaire in place from the comfort of your own home. All you have to do is follow his one-step program to financial security—the rest is automatic!This edition includes updated information on taxes, investments, technologies, and apps to automate your financial life as well as Bach’s latest systems for making the entire process even easier.

From the host of NPR’s Planet Money, the deeply-investigated story of how one visionary, dogged investor changed American finance forever.Before Bill Gross was known among investors as the Bond King, he was a gambler. In 1966, a fresh college grad, he went to Vegas armed with his net worth ($200) and a knack for counting cards. $10,000 and countless casino bans later, he was hooked: so he enrolled in business school.The Bond King is the story of how that whiz kid made American finance his casino. Over the course of decades, Bill Gross turned the sleepy bond market into a destabilized game of high risk, high reward; founded Pimco, one of today’s most powerful, secretive, and cutthroat investment firms; helped to reshape our financial system in the aftermath of the Great Recession―to his own advantage; and gained legions of admirers, and enemies, along the way. Like every American antihero, his ambition would also be his undoing.To understand the winners and losers of today’s money game, journalist Mary Childs argues, is to understand the bond market―and to understand the bond market is to understand the Bond King.

“One of the best investing books ever written.” —Charlie MungerFrom an award-winning financial journalist, a fresh and insightful book that draws on interviews with more than forty of the world’s super-investors to demonstrate that the keys to building wealth also apply to everyday life.Billionaire investors. If we think of them, it’s with a mixture of awe and suspicion. Clearly, they possess a kind of genius—the proverbial Midas Touch. But are the skills they possess transferable? And do they have anything to teach us besides making money.In Richer, Wiser, Happier, William Green draws on interviews that he’s conducted over twenty-five years with many of the world’s greatest investors. As he discovered, their talents extend well beyond the financial realm. The most successful investors are mavericks and iconoclasts who question conventional wisdom and profit vastly from their ability to think more rationally, rigorously, and objectively. They are master game players who consciously maximize their odds of long-term success in markets and life, while also minimizing any risk of catastrophe. They draw powerful insights from many different fields, are remarkably intuitive about trends, practice fanatical discipline, and have developed a high tolerance for pain. As Green explains, the best investors can teach us not only how to become rich, but how to improve the way we think, reach decisions, assess risk, avoid costly errors, build resilience, and turn uncertainty to our advantage.Green ushers us into the lives of more than forty super-investors, visiting them in their offices, homes, and even their places of worship—all to share what they have to teach us. From Sir John Templeton to Charlie Munger, Jack Bogle to Ed Thorp, Will Danoff to Mohnish Pabrai, Joel Greenblatt to Howard Marks, Green explains how they think and why they win.Profound, practical, and “unexpectedly illuminating” (Peter Diamandis), Richer, Wiser, Happier provides “many nuggets of wisdom” (The Washington Post) that will enrich you both financially and personally.

The Richest Man in Babylon, based on "Babylonian parables", has been hailed as the greatest of all inspirational works on the subject of thrift, financial planning, and personal wealth. In simple language, these fascinating and informative stories set you on a sure path to prosperity and its accompanying joys. A celebrated bestseller, it offers an understanding and a solution to your personal financial problem. Revealed inside are the secrets to acquiring money, keeping money, and making money earn more money.This original edition has the original language, content, and message from George S. Clason as intended in 1926. It's all here, uncensored.

The definitive book on Warren Buffett's views on everything from investing to management, this is the classic curated collection of his famous shareholder letters, masterfully arranged according to topic by long-time Buffett expert, Lawrence Cunningham.

NEW YORK TIMES, WALL STREET JOURNAL, ANDUSA TODAY BESTSELLER. A ten-step plan for finding peace, safety, and harmony with your money-no matter how big or small your goals and no matter how rocky the market might be-by the inspiring and savvy "Budgetnista." "No matter where you stand in your money journey,Get Good with Moneyhas a lesson or two for you!"-Erin Lowry,bestselling author of theBroke Millennial series Tiffany Aliche was a successful pre-school teacher with a healthy nest egg when a recession and advice from a shady advisor put her out of a job and into a huge financial hole. As she began to chart the path to her own financial rescue, the outline of her ten-step formula for attaining both financial security and peace of mind began to take shape. These principles have now helped more than one million women worldwide save and pay off millions in debt, and begin planning for a richer life. Revealing this practical ten-step process for the first time in its entirety, Get Good with Money introduces the powerful concept of building wealth through financial wholeness- a realistic, achievable, and energizing alternative to get-rich-quick and over-complicated money management systems. With helpful checklists, worksheets, a tool kit of resources, and advanced advice from experts who Tiffany herself relies on (her "Budgetnista Boosters"), Get Good with Money gets crystal clear on the short-term actions that lead to long-term goals, including- .A simple technique to determine your baseline or "noodle budget," examine and systemize your expenses, and lay out a plan that allows you to say yes to your dreams. .An assessment tool that helps you understand whether you have a "don't make enough" problem or a "spend too much" issue-as well as ways to fix both. .Best practices for saving for a rainy day (aka job loss), a big-ticket item (a house, a trip, a car), and money that can be invested for your future. .Detailed advice and action steps for taking charge of your credit score, maximizing bill-paying automation, savings and investing, and calculating your life, disability, and property insurance needs. .Ways to protect your beneficiaries' future, and ensure that your financial wishes will stand the test of time. An invaluable guide to cultivating good financial habits and making your money work for you, Get Good with Money will help you build a solid foundation for your life (and legacy) that's rich in every way.

Learn the basics of investing with this approachable guide to the world of financeClever Girl Finance: Learn How Investing Works, Grow Your Money is the leading guide for women who seek to learn the basic foundations of personal investing. In a no-nonsense and straightforward style, this book teaches readers: Exactly how investing works and what you should be doing, no fancy finance degree required How to leverage investing to build long term wealth even on a modest salary The key pitfalls to avoid in order to become a successful investor How to build a nest egg and invest in your future Insights from real-world success stories from other "clever girl investors"Clever Girl Finance teaches readers the irreplaceable value of investing for long-term financial gain, and the difference between making money and building wealth.Written for any woman who’s ever sought out an accessible introduction to the world of investing, this book is especially suited to women interested in learning how investing works and taking guided action towards their financial success.

April of 2022 marks a 25-year milestone for the personal finance classic Rich Dad Poor Dad that still ranks as the #1 Personal Finance book of all time. And although 25 years have passed since Rich Dad Poor Dad was first published, readers will find that very little in the book itself has changed — and for good reason. While so much in our world is changing a high speed, the lessons about money and the principles of Rich Dad Poor Dad haven’t changed. Today, as money continues to play a key role in our daily lives, the messages in Robert Kiyosaki’s international bestseller are more timely and more important than ever.MilestonesWhile there is a milestone to commemorate — and a new section in the book on Why Milestones Are Important — preserving the integrity of the original content is testimony to the fact that this book has truly stood the test of time. The sidebars throughout the book (that were updated for the 20-year anniversary edition) have been updated again, but the core principles that parents and grandparents — those who embraced Robert’s story and messages 25 years ago — are sharing them with new generations who have found that its timeless wisdom and no-nonsense lessons can be applied to anyone’s life and their vision for a future that includes taking control of their finances.People of all cultures and countries celebrate milestones. We use them to measure time, mark progress, reflect on the lessons we’ve learned, and celebrate accomplishments… and they give meaning to our life’s journey. They are a way that we integrate past, present, and future… looking back at where we started, where we are today… and the promise of all that the future can hold.In the quarter century that has passed since Rich Dad Poor Dad was first published — 25 years since April 8, 1997 — so many things in our world have changed. But the one thing that has not changed is the pressing need for and the power of financial education. Money is still a mainstay of our lives, like it or not, and technology has brought both speed and innovations to the world of money. In an ever-changing world, we can all still get smarter when it comes to money… and learn as much as we can to secure our future.Still the One… #1Today Rich Dad Poor Dad consistently ranks among bestsellers around the world in the categories of Personal Finance, Parenting, and Investing, has been translated into 38 languages, and has sold more than 40 million copies worldwide.Rich Dad Poor Dad is Robert's story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.In many ways, the messages of Rich Dad Poor Dad, messages that were challenged and criticized 25 ago, are more meaningful, relevant, and important today than ever.Rich Dad Poor Dad...• Explodes the myth that you need to earn a high income to become rich• Challenges the belief that your house is an asset• Shows parents why they can't rely on the school system to teach their kids about money• Defines once and for all an asset and a liability• Teaches you what to teach your kids about money for their future financial success

A Best Book For Investors Pick by the Wall Street Journal’s “Weekend Investor”Whether you’re considering your first 401k contribution, contemplating retirement, or anywhere in between, A Random Walk Down Wall Street is the best investment guide money can buy. In this new edition, Burton G. Malkiel shares authoritative insights spanning the full range of investment opportunities―including valuable new material on cryptocurrencies like bitcoin, and “tax-loss harvesting”―to help you chart a calm course through the turbulent waters of today’s financial markets.

WALL STREET JOURNAL BESTSELLER\n“An incredible, compelling read. It covers an astonishing amount of ground with basic simplicity and good humor. A masterful starting point for any investor. Tina Hay is a wizard.”—Ben Stein, economist, author, actor and commentator\nA handy crash course in personal finance, Napkin Finance is the groundbreaking guide everyone needs to help them manage their money and feel more secure.Surveys have found that two thirds of Americans can’t pass a basic financial literacy test, and nine in ten believe personal finance should become a required high school course. Tina Hay understands the confusion. While attending Harvard Business School, she struggled to keep up with classmates–many of whom came from the banking world–when it came to understanding jargon and numbers-heavy concepts. Tina developed a visual learning strategy using sketches and infographics that helped her succeed in her studies and master even the most complex financial topics.\nSince then, Tina founded Napkin Finance, a thriving company built on the concept of taking seemingly overwhelming topics—such as budgeting, investments, and retirement accounts—and turning them into simple, skimmable explanations. Now, she’s synthesized the most important content into this personal finance handbook. Napkin Finance includes dozens of individual learning modules, on topics ranging from credit scores to paying off student loans to economics and blockchain. \nThe first illustrated guide that makes finance fun and accessible, Napkin Finance can help even the most numbers-phobic reader learn about complex financial topics without dying of boredom.

A crash course in managing personal wealth and building a profitable portfolio—from stocks and bonds to IPOs and more!Too often, textbooks turn the noteworthy details of investing into tedious discourse that would put even Warren Buffett to sleep. Investing 101 cuts out the boring explanations, and instead provides a hands-on lesson that keeps you engaged as you learn how to build a portfolio and expand your savings. From value investing to short selling to risk tolerance, this primer is packed with hundreds of entertaining tidbits and concepts that you won't be able to get anywhere else.So whether you're looking to master the major principles of investing, or just want to learn more about stocks and bonds, Investing 101 has all the answers--even the ones you didn't know you were looking for.

Product Description \nTake advantage of the decades ahead and invest in your financial future today \nYou may be at the stage of your life where you’re still watching every penny, but you know the earlier you invest, the more time your money has to work for you. Investing in Your 20s and 30s For Dummies provides novice investors with time-tested advice, along with strategies that reflect today’s market conditions. You’ll get no-nonsense guidance on how to invest in stocks, bonds, funds, and even real estate―complete with definitions of all the must-know lingo. You’ll also learn about the latest investment trends, including using robo-advisors to manage your portfolio, relying on apps to make fast trades, and putting your hard-earned cash in digital currencies. Armed with the knowledge and strategies in this book, you can invest wisely, monitor your progress, and avoid risking too much. Today’s investing landscape is changing at record speed, and this book helps you keep up. Find information on the latest tax laws, financial lessons learned from the COVID-19 pandemic, and popular funds for the 2020s. \\nLearn the investment basics you need to get started \nDiscover new tools and technologies that make it easier than ever to participate in the market \nBuild a diverse portfolio that reflects your values, financial goals, and risk tolerance \nFeel more confident as you fund an investment account, choose equities or funds, and plan for the future \nMake an impact with your money by selecting socially responsible investments \nFigure out how much money to invest in employer-sponsored accounts or other retirement plans \\nIf you’re a little unsure about stepping into the world of investing, Investing in Your 20s and 30s For Dummies gives you the confidence you need to establish a smart investment strategy. Grab your copy today. \n From the Inside Flap \nDiscover your unique investing style!\nNow is an exciting time to get started with investments. Stock trading apps, robo-advisors, ETFs, small business ownership—setting your money in motion is a lot more fun than it used to be. And if you make your investing debut in your 20s and 30s, you can realize substantial returns by the time you retire. This book demystifies the stock market, government bonds, portfolio diversification, and beyond, so you can turn your hard-earned money into… more money! The sooner you begin, the “greener” your future will be!\nInside. . .\\nLearn how to start investingChoose stocks and funds wiselyMinimize your tax billDecide how much to investGet into real estateManage your level of riskInvest in small businessDiversify your portfolio\\nFrom the Back Cover \nDiscover your unique investing style!\nNow is an exciting time to get started with investments. Stock trading apps, robo-advisors, ETFs, small business ownership―setting your money in motion is a lot more fun than it used to be. And if you make your investing debut in your 20s and 30s, you can realize substantial returns by the time you retire. This book demystifies the stock market, government bonds, portfolio diversification, and beyond, so you can turn your hard-earned money into… more money! The sooner you begin, the “greener” your future will be!\nInside. . .\\nLearn how to start investingChoose stocks and funds wiselyMinimize your tax billDecide how much to investGet into real estateManage your level of riskInvest in small businessDiversify your portfolio\\nAbout the Author \nEric Tyson, MBA, is a bestselling personal finance author, counselor, and writer. He is the author of the national bestselling financial books Investing For Dummies, Personal Finance For Dummies, and Home Buying Kit For Dummies.

Fast-track your way to financial freedom with this bestselling guide to finding and funding profitable real estate business deals.Are you ready to discover a safe and fast path to financial freedom? Brandon Turner, bestselling author and longtime host of The BiggerPockets Podcast, will show you how to achieve your goals by finding incredible real estate investment opportunities. With a wealth of in-depth advice, The Book on Rental Property Investing shares the secret strategies that will help you build high-margin cash flow across your real estate portfolio.Whether you’re a beginner or looking for an advanced guide, this valuable book will help you learn how to create an profitable and practical plan, find incredible deals, analyze properties, build a team, finance rentals, and much more―everything you need to start making millions from your investments.Inside, you’ll discover: Why many real estate investors fail, and how you can ensure you don’t!Creative ways to find incredible deals in any marketHow to achieve property management success without touching a toilet, paintbrush, or broomUnique strategies for financing rentals, even with limited cash flowHow to maximize your wealth during tax seasonAnd so much more!

In the book, I describe the fundamentals of day trading, explain how day trading is different from other styles of trading and investment, and elaborate on important trading strategies that many traders use every day. I've kept the book short so you can actually finish reading it and not get bored by the middle.For beginner traders, this book gives you an understanding of where to start, how to start, what to expect from day trading, and how to develop your strategy. Simply reading this book, however, will not make you a profitable trader. Profit in trading does not come with reading a book or two or browsing online. It comes with practice, the right tools and software and appropriate ongoing education.Intermediate traders may benefit from the book's extensive overview of some of the classic strategies that the majority of retail traders regularly use with proven success. If you think you are beyond the stage of a novice trader, then you may want to jump ahead and start reading from Chapter 7 for an overview of the most important day trading strategies:Day trading is not gambling or a hobby. You must approach trading very, very seriously. As such, I wake up early, go for a run, take a shower, get dressed, eat breakfast, and fire up my trading station before the markets open in New York. I am awake. I am alert. I am motivated when I sit down and start working on the list of stocks I will watch that day. This morning routine has tremendously helped my mental preparation for coming into the market. Whatever your routine is, starting the morning in a similar fashion will pay invaluable dividends.ABCD Pattern TradingBull Flag Momentum TradingTop Reversal TradingBottom Reversal TradingMoving Average Trend TradingVWAP TradingSupport and Resistance TradingFor each strategy, I explain:How to find the Stock in Play for tradeWhat indicators I am using on my chartsWhen I enter the tradeWhen I exit the trade (profit taking)What is my stop lossDay trading is not gambling. It's not an online poker game. To be successful at day trading you need the right tools and you need to be motivated, to work hard, and to persevere. That's How to Day Trade for a Living.

Legendary investor Howard Marks is chairman and co-founder of Oaktree Capital Management, which has $100 billion under management. He is sought out by the world's leading value investors and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, readers can benefit from Mark's wisdom, concentrated into a single lifetime of experience and study, The Most Important Thing explains the keys to successful investment and the pitfalls that can destroy capital or ruin a career. Utilising passages from his memos to illustrate his ideas, Marks teaches by example, detailing the development of an investment philosophy that fully acknowledges the complexities of investing and the perils of the financial world. Brilliantly applying insight to today's volatile markets, Marks offers a volume that is part memoir, part creed, with a number of broad takeaways.

How a Nobel Prize–winning theory of the mind altered our perception of reality.Forty years ago, Israeli psychologists Daniel Kahneman and Amos Tversky wrote a series of breathtakingly original studies undoing our assumptions about the decision-making process. Their papers showed the ways in which the human mind erred, systematically, when forced to make judgments in uncertain situations. Their work created the field of behavioral economics, revolutionized Big Data studies, advanced evidence-based medicine, led to a new approach to government regulation, and made much of Michael Lewis’s own work possible. Kahneman and Tversky are more responsible than anybody for the powerful trend to mistrust human intuition and defer to algorithms.The Undoing Project is about a compelling collaboration between two men who have the dimensions of great literary figures. They became heroes in the university and on the battlefield―both had important careers in the Israeli military―and their research was deeply linked to their extraordinary life experiences. Amos Tversky was a brilliant, self-confident warrior and extrovert, the center of rapt attention in any room; Kahneman, a fugitive from the Nazis in his childhood, was an introvert whose questing self-doubt was the seedbed of his ideas. They became one of the greatest partnerships in the history of science, working together so closely that they couldn’t remember whose brain originated which ideas, or who should claim credit. They flipped a coin to decide the lead authorship on the first paper they wrote, and simply alternated thereafter.This story about the workings of the human mind is explored through the personalities of two fascinating individuals so fundamentally different from each other that they seem unlikely friends or colleagues. In the process they may well have changed, for good, mankind’s view of its own mind.

“An outstanding book about CEOs who excelled at capital allocation.” — Warren Buffett#1 on Warren Buffett’s Recommended Reading List, Berkshire Hathaway Annual Shareholder Letter, 2012Named one of “19 Books Billionaire Charlie Munger Thinks You Should Read” in Business Insider.“A book that details the extraordinary success of CEOs who took a radically different approach to corporate management.” — Charlie Munger, Vice-Chairman of Berkshire Hathaway Corporation“Thorndike explores the importance of thoughtful capital allocation through the stories of eight successful CEOs. A good read for any business leader but especially those willing to chart their own course.” — Michael Dell, chairman of the board of directors and chief executive officer of DellWhat makes a successful CEO? Most people call to mind a familiar definition: “a seasoned manager with deep industry expertise.” Others might point to the qualities of today’s so-called celebrity CEOs—charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.In this refreshing, counterintuitive book, author Will Thorndike brings to bear the analytical wisdom of a successful career in investing, closely evaluating the performance of companies and their leaders. You will meet eight individualistic CEOs whose firms’ average returns outperformed the S&P 500 by a factor of twenty—in other words, an investment of $10,000 with each of these CEOs, on average, would have been worth over $1.5 million twenty-five years later. You may not know all their names, but you will recognize their companies: General Cinema, Ralston Purina, The Washington Post Company, Berkshire Hathaway, General Dynamics, Capital Cities Broadcasting, TCI, and Teledyne. In The Outsiders, you’ll learn the traits and methods—striking for their consistency and relentless rationality—that helped these unique leaders achieve such exceptional performance.Humble, unassuming, and often frugal, these “outsiders” shunned Wall Street and the press, and shied away from the hottest new management trends. Instead, they shared specific traits that put them and the companies they led on winning trajectories: a laser-sharp focus on per share value as opposed to earnings or sales growth; an exceptional talent for allocating capital and human resources; and the belief that cash flow, not reported earnings, determines a company’s long-term value.Drawing on years of research and experience, Thorndike tells eye-opening stories, extracting lessons and revealing a compelling alternative model for anyone interested in leading a company or investing in one—and reaping extraordinary returns.