Tuesday, 10 January 2017

Money Masters of Our Time (John Train)

This is a more modern update of the classic, Money Masters, written by the same author. This book compiles materials and interviews from 18 different investors/ traders. These include famous ones like Buffet, Soros, and relatively less well-known ones like Philip Carret and Ralph Wanger.

The book draws upon rich resources including conversations Train had, materials published from funds, and the investors' books, if any had been written. This book covers more because it includes updates on what each person has done or any changes in style (up to 2000, the year of publication) as most of the books written were done so earlier. In addition, Train offers his own commentary and summary of all investors. It is easy to read and good for readers to be exposed to different styles and see that each still works in the financial world.

Even if readers have read some of the investors' books before, this is still a good book to read to have updates on their ideas. This book would be slightly more useful if readers have covered the investment classics beforehand (such as Soros or Lynch), but this is not necessary.

Recommended: Yes

Found in NLB: Yes

Monday, 9 January 2017

100 Baggers: Stocks That Return 100-to-1 and How To Find Them (Chirstopher W. Mayer)

Mayer is the founder of two investment newsletters and author of other books. This book is intended to be a spiritual successor to another book: 100 to 1 in the Stock Market authored by Thomas W. Phelps.

This book is a summary of 100-baggers by other authors, investors and research. Mayer builds the case with some inspirational stories before presenting evidence, and some how-to. I felt that the first half of the book can be skipped and some of the content has been repeated in other books. However, readers can tell that Mayer is widely read and he quotes from a staggering array of sources. I did not feel that I gained in terms of content, but I benefited from his list of sources more and will be reading up on other authors and ideas presented in this book. Readers can expect this book to be a distillation of ideas presented elsewhere, but thematically there is no central theme other than the title itself.

I am a giving thumbs-up because this book would be useful to neophytes as some sophisticated ideas are summarised here (such as the Kelly formula in investments).

Recommended: Yes

Found in NLB: No (as of 9 Jan 2017)