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Pat Dorsey The Five Rules for Successful Stock Investing (Paperback)

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Item specifics

Condition
Brand New: A new, unread, unused book in perfect condition with no missing or damaged pages. See the ...
Book Title
Five Rules for Successful Stock Investing : Morningstar's Guide to Building Wealth and Winning in the Market
Publication Name
The Five Rules for Successful Stock Investing
Title
The Five Rules for Successful Stock Investing
Subtitle
Morningstar's Guide to Building Wealth and Winning in the Market
Author
Pat Dorsey
Contributor
Joe Mansueto (Foreword by)
Format
Trade Paperback
EAN
9780471686170
ISBN
9780471686170
Publisher
Wiley & Sons, Incorporated, John
Genre
Business & Economics
Release Date
01/02/2005
Release Year
2005
Language
English
Country/Region of Manufacture
US
Item Height
1.2in
Item Length
8.9in
Item Width
5.9in
Item Weight
15.2 Oz
Publication Year
2004
Topic
Investments & Securities / Stocks, Personal Finance / General, Investments & Securities / General
Number of Pages
384 Pages

About this product

Product Information

The Five Rules for Successful Stock Investing "By resisting both the popular tendency to use gimmicks that oversimplify securities analysis and the academic tendency to use jargon that obfuscates common sense, Pat Dorsey has written a substantial and useful book. His methodology is sound, his examples clear, and his approach timeless." Christopher C. Davis , Portfolio Manager and Chairman, Davis Advisors Over the years, people from around the world have turned to Morningstar for strong, independent, and reliable advice. The Five Rules for Successful Stock Investing provides the kind of savvy financial guidance only a company like Morningstar could offer. Based on the philosophy that "investing should be fun, but not a game," this comprehensive guide will put even the most cautious investors back on the right track by helping them pick the right stocks, find great companies, and understand the driving forces behind different industries without paying too much for their investments. Written by Morningstars Director of Stock Analysis, Pat Dorsey, The Five Rules for Successful Stock Investing includes unparalleled stock research and investment strategies covering a wide range of stock-related topics. Investors will profit from such tips as: How to dig into a financial statement and find hidden gold . . . and deception How to find great companies that will create shareholder wealth How to analyze every corner of the market, from banks to health care Informative and highly accessible, The Five Rules for Successful Stock Investing should be required reading for anyone looking for the right investment opportunities in todays ever-changing market.

Product Identifiers

Publisher
Wiley & Sons, Incorporated, John
ISBN-10
0471686174
ISBN-13
9780471686170
eBay Product ID (ePID)
30997523

Product Key Features

Book Title
Five Rules for Successful Stock Investing : Morningstar's Guide to Building Wealth and Winning in the Market
Author
Pat Dorsey
Format
Trade Paperback
Language
English
Topic
Investments & Securities / Stocks, Personal Finance / General, Investments & Securities / General
Publication Year
2004
Genre
Business & Economics
Number of Pages
384 Pages

Dimensions

Item Length
8.9in
Item Height
1.2in
Item Width
5.9in
Item Weight
15.2 Oz

Additional Product Features

Lc Classification Number
Hg4521.D646 2004
Reviews
Not long ago, MagicDiligence reviewed Mary Buffett and David Clark's Warren Buffett and the Interpretation of Financial Statem...... and concluded that, while possibly useful for beginners, experienced stock investors would dismiss the book as simplistic and adding nothing new. The review also mentioned that a good alternative for more experienced investors looking to add to their knowledge is Pat Dorsey's The Five Rules for Successful Stock Investing. Today we'll take a look at that book. The author, Pat Dorsey, is currently the Director of Equity Research for Morningstar. Morningstar has historically been known for their 5-star scale of mutual fund ratings, but several years ago began applying the same scale to individual stocks. Since Morningstar's focus is on durable competitive advantage, the firm's investing philosophy correlates very well with that of the Magic Formula and of MagicDiligence. That makes the book particularly relevant and much of my stock analysis is based on techniques outlined in it. The Five Rules... is more or less a two part book. The first half deals covers the title, laying out the five rules for successful investing and then proceeding to expand on each of them. Without spoiling too much of the book, Dorsey's five rules are: 1) Do your homework. 2) Find economic moats. 3) Have a margin of safety. 4) Hold for the long haul. 5) Know when to sell. This first section then continues on to introduce the investor to the techniques of stock analysis. Topics covered include detailed explanations of each financial statement, the points of emphasis to look for in a good investment (such as growth potential and financial health), how to spot accounting blowups before they happen, how to value a stock, and so forth. For everyone interested in stock analysis, from 10 year pros to those just beginning to dip their toes in the market, these chapters contain invaluable and vital information. Nearly every investor will learn something new about evaluating companies and valuing stocks. One particularly valuable chapter is titled "The 10-Minute Test", which will help you quickly throw out stocks that are not worth your time, while highlighting investment opportunities that warrant additional research. The second half of the book is equally useful. In this section, Dorsey calls upon Morningstar's sector analysts to lay out the intrinsic moat qualities and the factors that separate good and bad companies in a variety of sectors, including Health Care, Consumer Services, Media, Banks, and so on. It's no secret to MagicDiligence Members that some industries are inherently better investment hunting grounds than others, and this book explains why. For example, retail is generally a difficult place to invest - there are no customer switching costs, tons of competition, and constantly changing consumer trends. On the other hand, most medical device makers have very high switching costs, as surgeons are trained on one company's products and are loathe to learn the intricacies of a competing product, unless there is a very good reason to do so. To close this review, a personal observation. Most investors routinely cite classic investing books like Ben Graham's The Intelligent Investor as the place to start for novice investors. I respectfully disagree. I've read many of those great classics, but no one book has explained the details of company and equity analysis as directly or relevantly as this book. This is one of the most overlooked investing books out there, and comes highly recommended to all investors. -The Motley Fool
Table of Content
Foreword. Introduction: Picking Great Stocks Is Tough. Chapter 1. The Five Rules for Successful Stock Investing. Chapter 2. Seven Mistakes to Avoid. Chapter 3. Economic Moats. Chapter 4. The Language of Investing. Chapter 5. Financial Statements Explained. Chapter 6. Analyzing a Company- The Basics. Chapter 7. Analyzing a Company-Management. Chapter 8. Avoiding Financial Fakery. Chapter 9. Valuation- The Basics. Chapter 10. Valuation-Intrinsic Value. Chapter 11. Putting It All Together. Chapter 12. The 10-Minute Test. Chapter 13. A Guided Tour of the Market. Chapter 14. Health Care. Chapter 15. Consumer Services. Chapter 16. Business Services. Chapter 17. Banks. Chapter 18. Asset Management and Insurance. Chapter 19. Software. Chapter 20. Hardware. Chapter 21. Media. Chapter 22. Telecom. Chapter 23. Consumer Goods. Chapter 24. Industrial Materials. Chapter 25. Energy. Chapter 26. Utilities. Appendix. Recommended Readings. Morningstar Resources. Index.
Copyright Date
2004
Lccn
2003-018287
Dewey Decimal
332.6322
Intended Audience
Trade
Dewey Edition
21
Illustrated
Yes

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  • Great book for novice investors!

    This is one of the best books I've read based on value investing. The author breaks down business sectors and explains how successful business picking relates to successful stock picking. For example, Walmart and other retail sectors have a very small profit margin. But Walmart sells about 70% of its inventory before it even pays the suppliers for the inventory. The author explains "how businesses within a sector function" giving an investor knowledge in a particular business model. There is also an overview on how to read balance sheets, income sheets, and cash flow. Any easy read with outstanding insight.

  • best book on investing

    best book on investing

    Verified purchase: YesCondition: Pre-OwnedSold by: stormycatbooks2014