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| Active Value Investing: Making Money in Range-Bound Markets (Wiley Finance) | 
 enlarge | Author: Vitaliy N. Katsenelson
Publisher: Wiley
Category: Book
List Price: $55.00
Buy New: $29.89
You Save: $25.11 (46%)
Buy New/Used from $29.59
Avg. Customer Rating:  (37 reviews)
Sales Rank: 54690
Languages: English (Original Language), English (Unknown), English (Published)
Media: Hardcover
Number Of Items: 1
Pages: 304
Shipping Weight (lbs): 1.1
Dimensions (in): 9.1 x 6.2 x 1.2
ISBN: 0470053151
Dewey Decimal Number: 332.6
EAN: 9780470053157
ASIN: 0470053151
Publication Date: September 28, 2007
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 Great Book on the Fundamentals of Investing September 28, 2007
3 out of 4 found this review helpful
Active value investing is a phenomenal book that breaks down the fundamentals of investing in stocks. A lot of investing books today talk about strategy and basic philosophy of investing but very few take the steps of walking a reader through the logic of picking stocks and then how to assign a valuation. Many authors shy away from taking on this additional step of valuation, which is the most difficult part of the process. Vitaliy dares to undertake such a task in his book and the best part is he does it in a manner that would make Warren Buffet proud, translating complex information into an easily comprehended set of chapters. With a Buffet style humor, Vitaliy lays out complex security valuation material in humor seen in the Berkshire Hathaway annual reports we all love.
I strongly recommend this book, it's truly a great book on investing and good resource in those times you have those doubts or high expectations about a stock!
Excellent strategy for today's market September 27, 2007
4 out of 5 found this review helpful
The notion of buying stocks for the long run, or buy and hold, is so drilled into most value investor's heads, that few question whether it is always the right strategy. Katsenelson effectively outlines that some markets, in particular, range bound markets, are not an environment in which to blindly buy and hold stocks.
What is unique to this investment book is how Katsenelson illustrates the history of range bound markets and the low returns to investors during these periods. Since most of today's investors only know the feast and famine of the tech bull and subsequent bust, I think they will find the notion of range bound markets, which have extended for 10 or 15 years at a clip, to be an eye opener. The charts and graphs of how this has played out over the past century cannot be found in any other investment book I have read.
After spelling out its theory, the book turns practical and outlines how stocks should be bought and then unlike most investment books, it addresses how to sell stocks, too. I believe it is well worth a read and the charts and graphs alone are worth the price of the book.
Active Value Investing or How to be a better Investor! September 27, 2007
2 out of 4 found this review helpful
Katsenelson's passionate, witty and accessible writing expertly takes the reader through his original framework for valuing stocks in range-bound markets. A student of history and an overzealous stock picker, the author entertainingly illustrates every concept with a collection of real-world examples, demonstrating an impressive breath and depth of understanding of what makes stocks move! I hope you enjoy "Tevye the Milkman" as much as I did!
Beyond the writing you will find a sound and disciplined valuation approach based on rigorous research which should help any investor steer away from irrational investment decisions in any market conditions.
The Antidote to Buy & Hope September 27, 2007
3 out of 4 found this review helpful
This book is a must-read for any serious investor. It explains why holding for the long term is a mistake for extended periods of time, and helps you to know when those times are and how to act differently. This is one of those times, I believe.
It's About Time! September 26, 2007
3 out of 4 found this review helpful
An instant classic! Unlike all the bear market predictions, and other polyanna prognistications of the dow sky rocketing, this book, which was sorely needed, gets at the true nature of the stop and start history of equity markets.
Vitaliy Katsenelson's use of eye-opening charts, hard-core data, and clever real world examples makes this a great read. The book is long and packed with information, but it is worth it. I gained a lot of insight into today's volatile markets. I put it right up there with other great finance titles like "Fooled by Randomness" and "Liar's Poker"!
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