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I liked this book enough that I've bought multiple hardcopies for friends and myself. The book provides a blueprint for personally managing a small number of stocks. This stock portfolio should be hedged by other diverse investments including safe money (i.e. fixed interest) and mutual funds.
There is a lot of good advice throughout the book. They cover, in part, (1) why you should concentrate on a few stocks and know them inside and out, (2) metrics for determining an appropriate value for a stock, (3) effective screening tools in finding the gems, and (4) some no-nonsense views of how the stock market really operates with respect to analysts.
9 of 9 people found this review helpful
Overall, I enjoyed the book even though the authors over-used Microsoft and Dell as examples of his successful stock picks. The basic concepts regarding the characteristics of a successful technology company are good, although they are marred somewhat by the irrational exuberance that affected virtually everyone in the bubble era. It is now amusing to hear about paying 40-70x P/E for a stock. Some of Mike's favorite stocks, including Red Hat software, Audible.com, Gateway, also have not done well. Overall though, it provides insights into how a research analyst in that era assess companies and pick stocks.
4 of 4 people found this review helpful