The Complete Investor - Kindle edition by Stephen Leeb. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like.
Table of contents
Thank you for the commentary. We are also on Facebook now http: Overall Rating Rate this item: Investment Performance Rating from 21 votes. Value For Price Rating from 20 votes. Customer Service Rating from 18 votes. Click here to subscribe to this comment thread. December 28, 3: June 6, 7: Have actively followed Stephen Leeb since his days with Personal Finance.
Stephen Leeb is and has been an agnostic economist in his views.
- Master of the Crossroads.
- Fort!
- The River.
- ;
- Charlie Munger: The Complete Investor by Tren Griffin!
- !
December 6, 8: Have subscribed for two year. In addition, Leeb is a devote Keyesian and in one case chided the Fed for not starting QE3, which his ideology requires to make money. Back to my first point. But there is never a strategy. October 12, 3: Responses like these give us the feedback necessary to make the kind of changes to our services that best serve you, the customer.
We have a wonderful customer service center reachable by phone at We implore you to contact them with whatever concerns, problems or questions you may be having so that the issue s may be rectified ASAP. September 1, 2: I followed him to his new newsletter because his advice had been excellent.
Leeb has made a lot of people money by getting readers in oil and gold years ago. Personal Finance oil gold. May 28, March 28, March 14, Relatively inexpensive subscription rate.
- The Washington Consensus Reconsidered: Towards a New Global Governance (Initiative for Policy Dialog?
- Complete Investor, The!
- Normality and Pathology in Childhood: Assessments of Development.
- Bella Blues Big Adventures (Bella Blue Books Book 1);
- Charlie Munger: The Complete Investor.
- America in Peril.
- !
Too much portfolio turnover. Too many portfolio holdings — why not simply buy sector ETFs instead? The Small-Cap Value Portfolio is particularly atrocious: February 14, 3: November 25, 3: September 21, 3: September 19, 4: February 5, 8: January 23, 3: What was a terrible failure was to NOT give a sell signal during the summer of at all.
December 11, Like some of the other reviewers, I would say I get more value from his commentary than from his stock picks. Of the portfolios in the newsletter, I find the small cap value and the mutual fund portfolios the least useful. The mutual funds seem to change without much reasoning and are not covered nearly as extensively as his economic outlook or the individual stocks. Personal Finance mutual funds. October 31, 3: Stephen Leeb gold oil. October 30, October 12, 7: October 10, 4: A lot of valuable informations in a well written and relatively cheap newsletter.
October 7, 8: I had subscribed to the Complete Investor for many years. During that time Leeb had sent, by e-mail, advice and market information 2 or 3 times weekly. However, when the market meltdown occurred in late , he seemed to have disappeared.
The Complete Investor
Because of his neglect I did not renew my subscription. And, too, his constant barrage trying to sell his other advice letters had become very irritating. August 27, 4: Inside was material that was decidedly bullish on the stock market, stating that an important low soon would be reached.
August 7, 9: July 20, 1: I subscribed to the Complete Investor after reading the Oil Factor and thinking that it was terrific. In the Oil Factor Leeb gives a formula for when to be in the market based on the price of oil over the last 12 months. June 29, 8: June 23, 6: About two years ago, he sounded like a sage and I could see where he was going, agreed with many of his picks, and his rationale for doing so. His strategy seemed, well, pretty smart.
I agree with JohnnyHeck, what was the guy thinking?
See a Problem?
June 7, 8: June 6, May 27, I will not be renewing my 2 year subcription this fall. Well, it actually did! April 24, I like reading the letter for his sentiments. The picks make an interesting watchlist, but has to be combined with a timing system. So far he is a good example that you can be right in the long term and dead broke before you get there. April 23, 5: I have been subscribing to this newsletter for several years. Some of his advice has made money for me, chiefly in Gold and Energy stocks..
But I am increasingly perplexed by his ability to play both sides. In his ads for special services he trumpets how the newsletter warned of the coming financial storm, but if one looks at the portfolios he espouses, one can see that the losses there have been just as severe as the market in general. April 8, 2: March 28, 1: Early on I accepted their picks as gospel and invested in ten of their high rated picks. I lost money in all but two of them. March 21, Bear with me as I may ramble.
Steve Leeb has decent logic and knowledge on the stock market and the economy, in general. Apparently exisiting members of his two other newsletters were not worthy of such advice without paying the extra fee. March 21, 8: March 19, 6: I subscribed from through Leebs comments about then current economic trends was the best part of his news letter. His recommendations were conservative, mostly blue chip types, with no wild out of space ideas! His portfolios rarely changed….
When it came time to re-subscribe for , I dug out all issues from the previous years, and reviewed winners and losers. March 3, 9: Want to Read Currently Reading Read. Refresh and try again. Open Preview See a Problem? Thanks for telling us about the problem. Return to Book Page. Preview — Charlie Munger by Tren Griffin. The Complete Investor by Tren Griffin. The Complete Investor 3. Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same.
His notion of "elementary, worldly wisdom"--a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management--allows him to Charlie Munger, Berkshire Hathaway's visionary vice chairman and Warren Buffett's indispensable financial partner, has outperformed market indexes again and again, and he believes any investor can do the same.
His notion of "elementary, worldly wisdom"--a set of interdisciplinary mental models involving economics, business, psychology, ethics, and management--allows him to keep his emotions out of his investments and avoid the common pitfalls of bad judgment. Munger's system has steered his investments for forty years and has guided generations of successful investors.
This book presents the essential steps of Munger's investing strategy, condensed here for the first time from interviews, speeches, writings, and shareholder letters, and paired with commentary from fund managers, value investors, and business-case historians. Derived from Ben Graham's value-investing system, Munger's approach is straightforward enough that ordinary investors can apply it to their portfolios. This book is not simply about investing. It is about cultivating mental models for your whole life, but especially for your investments.
Hardcover , pages. To see what your friends thought of this book, please sign up. To ask other readers questions about Charlie Munger , please sign up. Lists with This Book. This is a great book filled with the timeless wisdom and sharp wit of Charlie Munger. This book may make you a better investor but it will absolutely teach you about some of the virtues you may want to cultivate in your life. At the end of every book I read, I like to do a little exercise that tries to summarize the book in three sentences.
If the book was really good, I would struggle greatly as I fight to decide what concepts merit mention in the allotted three sentences. If it was not, it would be easy to write. With this book I can say it was quite a struggle. There is just so much in here worth internalizing. The book in three sentences Practice these virtues daily: Compounding and probability are critical concepts to internalize and are broadly applicable beyond financial matters.
View all 3 comments. Sep 21, Michael rated it really liked it. This book is carried not by the author or writing style, but earns 4 solid stars for the wisdom of Charlie Munger that reverberates beyond the syntax of the prose.
Charlie's maxims echo the wisdom of Ben Franklin on how to achieve success through integrity, reputation, thrift, hard-work, constant learning and reading. These virtues seem so simple as to be obvious, yet they are so rarely exemplified over a lifetime of practice. Charlie's greatest advice is to learn from others, an insight shared b This book is carried not by the author or writing style, but earns 4 solid stars for the wisdom of Charlie Munger that reverberates beyond the syntax of the prose.
Complete Investor, The | Stock Gumshoe
Charlie's greatest advice is to learn from others, an insight shared by Isaac Newton who is said to have stood on the shoulders of giants so that he might see further. If you are looking for a recipe for success in investing and life, Charlie offers a plain spoken candor. Here is is that recipe, the secret sauce, the simple road to riches. Charlie Munger delineates the path to wisdom, "In my whole life, I have known no wise people over a broad subject matter area who didn't read all the time -- none, zero. You'd be amazed at how much Warren reads--and at how much I read.
My children laugh at me. They think I'm a book with a couple of legs sticking out. How many of us take those words to heart and read 4, 5, 6 hours a day? Read this book and you will be a few hours closer to a vantage point that took Charlie and Warren some 70, 80, 90 years of lifelong learning to achieve so that they clearly stand on the shoulders of giants and see further than any other set of living investors with a track-record to prove it.
Oct 27, Petr Bela rated it it was ok Shelves: This book is a collection of Munger's and Buffet's quotes probably even citing Buffet more often than Munger , which the author uses to explain their life philosophy and the principles of value investing. If you, by reading the title, think this book is Munger's biography, well, it's not. Read Poor Charlie's Almanac instead.
To read about value investing, get Graham's The Intelligent Investor. The only positive of this book is that it's relatively short, and thus you can use it to quickly refresh the rules of value investing that are reiterated multiple times throughout the book: Treat a share of stock as a proportional ownership of a business.
Buy at a significant discount to intrinsic value to create a margin of safety. Make a bipolar Mr. Market your servant rather your master. Be rational, objective and dispassionate. Applied to investing, people often believe they must get rich on a stock just because someone else has.
Griffin's book highlights the investing style of Charlie Munger - and, to a lesser extent, Warren Buffett. He uses lots and lots of quotes to illustrate his points - at first they're interesting and useful but, after a while, they're much less so. His two chapters at the end about the Graham style and valuation are useful on their own.
Dec 09, Anil Tulsiram rated it it was amazing. I previously read this book and found it to be ok. When I heard the same book in audible slowly, I realized there is lot more which I missed earlier. Mar 22, Faye rated it liked it. This is okay since the two tycoons have extremely tight working relationship and it is hard to separate them unless the sole purpose is to distinguish the two.
The investing philosophy of Charlie is the juice of the book. However, the author seems to have blended some of his own investment thoughts into the book, although benign, diluted the good juice to some degree. I love Charlie Munger's quotes throughout the book. Maybe it's because Charlie shies away from the publicity, the lack of personal touch in the book fails to glue the book together to make it great.
Sep 26, Milan rated it did not like it Shelves: This book mainly tries to describe Charlie Munger's Mental Models. There are no new insights provided in the book. The author has taken the various quotes of Munger and other investors and tried to explain it in his own words, sometimes poorly. If you have already read Poor Charlie's Almanack, the author is just trying to write a shortened version of that amazing book. The use of the term "Graham value investors" again and again is quite irritating.
Tren Griffin thinks that he represents the thinking of all the value investors of the world. His writing comes off as condescending at times. He is better off writing on his blog than writing a book on investing and that too on a person, no less than Charlie Munger. Dec 13, Hariharan Ragunathan rated it really liked it. In a short page book, Griffin summarize the principles of value investing and also the psychological bias investors have, and some checklist to overcome some of them. A pager on Bogle's index fund investor is also covered.
Overall a quick read to understand basics of value investing. Jan 20, Andrei Savu rated it really liked it. A very useful read on business fundamentals and how to use them to make investment decisions. It's a very good read for anyone considering to be an active investor vs. The effort needed to build a good portfolio of a small number of securities is very significant and something requires a lot of time - a complex path to take. I think this book is also a very useful read for business owners because it has some good information on how to approach capital all Dense.
I think this book is also a very useful read for business owners because it has some good information on how to approach capital allocation, design a proper system of incentives and develop moats that will provide a long-term competitive advantage. Jan 07, Abhijit rated it really liked it. It's a short breezy read packing in more wisdom per page than most books. Read it as an introduction to Charlie Munger's investment philosophy. Sep 06, Darren rated it really liked it. Anyone who is even remotely active and concerned with investing will know of Charlie. For those whom the name means nothing, this book will more than capably fill in the gaps and dispense a lot of wisdom along the way.
Charlie Munger is today the sidekick of Warren Buffett, part of the top leadership double-act at Berkshire Hathaway his official title is vice-chairman and he has been giving sage-like investment advice for over four decades. Munger has his strategies, his focus and his viewpoint Anyone who is even remotely active and concerned with investing will know of Charlie.
Munger has his strategies, his focus and his viewpoint and this book gives the reader a taste of Munger and shows a bit of what makes him tick. Whilst the investor will learn a lot, it is not just a book about making your riches by trading stocks — there is a lot of crossover that can be used elsewhere in life, both professional and personal.
The book can be a bit of a challenging read for some and perhaps it could have been polished a little more to give it greater, widespread appeal yet it does contain a heck of a lot of information and if you can get over the overload and begin to process the data, potentially limitless benefits can follow. For those who like to dig even deeper, the book is awash with bibliographic references and notes that guide the reader along. With a book like this, sometimes you can be forgiven for wanting even more when it is giving so much, without it being a fault of the book from the get-go.
It provided an engaging, informative and stunning look at a person who is, for many, part of a cult-like double act. Unless Institutional Investor magazine is being a little naughty, they recently informed their readers that you can even get underwear, yes, underwear, emblazoned with the faces spelling checked of Charlie Munger and Warren Buffet! Their company owns Fruit of the Loom. Charlie Munger is 91 years old and yet he seems to be still steaming along like an express train and as this book and countless media comments attest, he is still sharp as the sharpest tack in the box.