This national bestseller is "highly readable and valuable. . . . The best book in the investment field I've read in years."-- "New York Times Book Review" "Highly readable and valuable ....best one in the investment field I have read in years."--Paul Erdman, "New York Times"This national bestseller is "highly readable and valuable. . . . The best book in the investment field I've read in years."-- "New York Times Book Review" "Highly readable and valuable ....best one in the investment field I have read in years."--Paul Erdman, "New York Times"Read Less
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Good. This book is the clearest, most insightful work on how the great investors of the last 50 years built their enviable track records. Seeing what people actually do is often more helpful than running computer simulations on what would have outperformed the past market. Since the future will probably be different, such exercises often have little benefit, and may hold the potential for harm. After all, people are tempted to do the wrong things, just as you may be sometimes. This book gives you an insight into what the great investors paid attention to, what questions they asked themselves, and others, and how they behaved. You will find that successful investing has been a lot different than it sounds on CNBC. Generally, those who are eager to talk about what they do have little of value to share. The exception may be managers of large mutual funds who want to attract your funds to theirs (for a piece of the action, in the form of a management fee).
Profiles of the early giants in the 20th century like Phil Fisher, Warren Buffett, Benjamin Graham, John Templeton, T. Rowe Price, and so on. Train's writing style is stuffy and snobby at times, but his Money Masters books are very worthwhile reading because it exposes you to the philosophies of so many of the great investors. Some specific techniques are dated, but the fundamental principles will always be relevant. You should also definitely buy the second piece "The New Money Masters" which covers the next generation of investors (as well as some older ones) like John Neff, Peter Lynch, and George Soros. I still re-read them occasionally even though they're all dog-eared and have notes in 4 different colors of ink in them!
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