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Title: Investment Philosophies: Successful Investment Philosophies and the Greatest Investors Who Made Them Work by Aswath Damodaran ISBN: 0471345032 Publisher: John Wiley & Sons Pub. Date: January, 2003 Format: Hardcover Volumes: 1 List Price(USD): $69.95

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Average Customer Rating: 5

Rating: 5
Summary: Excellent book on a good topic
Comment: The best thing about the book is it does not offer shallow remedies like "get rich in 30 days" ot " how to become a millionaire", but offers a more academic assement of the philosophies followed by disciplined investors. He fits it nicely in to theoretical framework. I think Damodaran wants to show the relevance of the theoretical knowledge in the strategies folled by these investors.

Rating: 5
Summary: Comprehensive
Comment: Investment Philosophies is one of the best investment books I have ever read. It is both informative in the sense that it contains detailed information, and in the sense that it proposes a theoretical framework for thinking about investing. My only complaint is that Damodaran did not cover more investment philosophies (he considers 7). However that is not a big enough complaint to take away even a half a star let alone a full one.

The book is broken down into two segments. The first gives a primer in finance theory which is useful to those who are beginners as well as those with more intermediate knowledge. The first segement is essentially a mini-textbook on finance related to investments. It is extremely handy and very well laid out. The second segment of the book uses the tools developed in the first to analyze various investment philosophies. Damodaran bases 95 percent of all his arguments on academic research. That is, he does not make any claims without backing them up.

There is little new information in this book, although there are the results of a few very recent research projects. The value of this book is in the organization of information already available, and of course in the theoretical framework of the "investment philosophy" that he lays out. It is important to note that Damodaran's definition of investment philosophy is not without dispute. Most investmentment philosophies used in practice do not meet his criteria. So, he is really making an argument for looking at investment philosophies in a new way. It is my belief that this new way is far, far superior to what is currently in use.

Rating: 5
Summary: A very good overall review of finance theory
Comment: A well written book offering a very good overview of financial theory and its implications from a practioner's point of view. It takes you from the ground up: starting with valuation issues reaching asset management and investment strategies. The book covers hot contemporary issues in finance, such as behavioral finance.

In my opinion, it is equally well suited for professionals, finance students and sophisticated investors. Highly recommended.

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