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The Little Book of Value Investing

Christopher H. Browne, Roger Lowenstein (Foreword by)

ISBN: 978-0-470-89327-2 May 2010 208 Pages


There are many ways to make money in today’s market, but the one strategy that has truly proven itself over the years is value investing. Now, with The Little Book of Value Investing, Christopher Browne shows you how to use this wealth-building strategy to successfully buy bargain stocks around the world.

Foreword xi

Acknowledgments xix

Introduction xxiii

Chapter One Buy Stocks like Steaks . . . On Sale 1

Chapter Two What’s It Worth? 10

Chapter Three Belts and Suspenders for Stocks 18

Chapter Four Buy Earnings on the Cheap 26

Chapter Five Buy a Buck for 66 Cents 35

Chapter Six Around the World with 80 Stocks 41

Chapter Seven You Don’t Need to Go Trekking with Dr. Livingston 49

Chapter Eight Watch the Guys in the Know 58

Chapter Nine Things That Go Bump in the Market 63

Chapter Ten Seek and You Shall Find 70

Chapter Eleven Sifting Out the Fool’s Gold 78

Chapter Twelve Give the Company a Physical 87

Chapter Thirteen Physical Exam, Part II 94

Chapter Fourteen Send Your Stocks to the Mayo Clinic 102

Chapter Fifteen We Are Not in Kansas Anymore! (When in Rome . . .) 114

Chapter Sixteen Trimming the Hedges 119

Chapter Seventeen It’s a Marathon, Not a Sprint 123

Chapter Eighteen Buy and Hold? Really? 130

Chapter Nineteen When Only a Specialist Will Do 139

Chapter Twenty You Can Lead a Horse to Water, But . . . 145

Chapter Twenty-One Stick to Your Guns 156

Don’t Take My Word for It 165

Bibliography 177

"Fools would be well-served to place The Little Book of Value Investing on their holiday shopping lists". (, December 12, 2006)

"sharply written...gets you fired up about buying stocks" (USA Today, December 4, 2006)

"If you are a value investor by temperament, you will (or should) find a lot that is persuasive in what Christopher Browne has to say about the craft of value investing in a delightful new book out this autumn...It is nicely written and utterly persuasive if long-term investment success is what you are after and your temperament is equipped to handle the psychological pressures of making non-consensus investments." (The Independent, November 2006)

"elegant new treatise on the art of value investing. . ." (Financial Times (UK), October 30, 2006)

"...easily digestible and shortish treatise for anyone who wants to try out this particular investment strategy".  (The Wall Street Journal, October 10, 2006)

"After 37 years of practicing what Graham preached, Browne has distilled the creed into a disarmingly chatty primer. . ." (Bloomberg)

"one of the best guidebooks toward protecting and growing a retirement nest egg. This advice comes from a legend of value investing, and it’s presented with enough clarity that anyone can follow it." (