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This is not our type of book. It is involved in investment strategies and our focus is on trading approaches. It relies on fundamental information, while we use charting techniques. That said, the book is a very useful, practical application of Buffet’s techniques of analysis.


It is a very good outline of what is involved in value investing approaches. The workbook uses hard numbers and shows you how to find and apply them. Each chapter includes a key point summary, study questions and  some test questions on material covered in the chapter.


The second part deals with Buffet’s intrinsic value equations. This is specific adaptations and developments of Benjamin Graham’s work as used by Buffet. All of these equations require very little spreadsheet work. Most of them can be easily done using a calculator and some mental arithmetic.


The book is a good workbook. If you have enough money to become one of the top 5 stockholders in  the company then this is the workbook you need. For the shareholder who ranks in the bottom 20 shareholders by size, many of these calculations are just plain useless. The reality of the Buffet investing approach is that the success is due more to his ability to be a dominant management force on the company board than to any particular skill in stock selection. It is doubtful that this approach can be successfully scaled down to a level suitable for private investors with limited capital.


If this book is used as  a starting point for stock analysis on a fundamental basis, then it is very useful. We would suggest it is even more useful when combined with technical analysis to help determine when is the best time to buy.



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